OneBanx

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.

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