OneBanx is a FinTech allowing customers of any bank to access banking services in their community. Their kiosks are estimated to save banks more than 90% of the cost of running a branch, ensuring no customer is left behind even as branches continue to close. Raising funds for nationwide expansion.

United Kingdom
No. Investors

Company Description

Retail banks have closed 5,000 branches since 2015, yet many customers still need physical locations for their everyday banking needs. The UK government wants to prevent the closure of all physical banking locations. On average, it costs a bank £590K per year per branch. Open Banking allows us to provide a single, conveniently located, retail banking service to customers of any bank, at a location and time convenient to them. This ensures that any banks’ customers can continue to access important in-person banking services. Our solution costs a bank >90% less while delivering great customer service. Our solutions are designed to be commissioned and paid for by banks who offer transactional banking services to their customers. 10 UK banks have committed to a nationwide scheme to deploy shared banking facilities in response to the growing public and regulatory backlash against the increasing number of branch closures. We have 3 successful pilot locations in Scotland located within Co-op supermarkets, in communities where there are no bank branches. We are backed by Glory, who specialises in banking solutions, alongside industry experts; the former CEO UK Finance, former deputy governor of Bank of England and former CFO Nordea Bank. We are now raising funds for nationwide expansion.

Key Deal Facts

Shared banking sector growing; recent nationwide scheme backed by 10 UK banks, 4 operational sites across the UK: 3 Co-op stores and 1 TSB pop up, Our proprietary tech has processed more than £1.9m of cash to date, Backed by Japanese publicly-listed tech giant Glory
Amount Raised : $0
Reveal the Score by Voting
Additional ratings from other users are needed to determine a viable CrowdScore for this deal.
The "CrowdScore" for this deal is determined by user ratings and other factors using our proprietary algorithm.
The overall viability and scalability of the business concept as well as the ability to drive the concept to profitability over time.
Business Idea
The progress made thus far in demonstrating that the business has viability, a customer base or other business traction.
Business Traction
The experience of the management team in running, scaling and/or exiting a business that required similar skills to execute the business plan.
Management Team
The value of the company compared to similar companies raising money from investors.

Research Reports

No reports have been submitted

Become a Reporter