Brief history

Nokas was established by the Norwegian Central Bank in 2001 as a provider of cash handling services. 

Nokas was established as “Norsk Kontantservice AS” on July 1st, 2001 to offer commercial cash services to Norwegian banks previously delivered by the Norwegian Central Bank. The ownership was initially split between Norges Bank with 33.5 % and a mix of private banks.

In October 2007, Nokas was acquired by VaktService AS, who later became Avarn Security Group, after a series of mergers and acquisitions.

Early 2019 Nokas Group acquired Avarn Security, a leading security company in Finland and Sweden. During the merge process it was decided to separate the Cash Handling and Security businesses. The Security business became Avarn Security Group and the cash handling part continued under the Nokas brand. Nokas is 100 percent owned by Avarn Security Group.

Today, Nokas focus on three main service areas in the Nordic market:

  • Automated cash management products for businesses
  • Bank-neutral ATMs (IAD – Independent ATM deployer)
  • Traditional cash handling services (Cash Centers and Cash in Transit)