Billed as the future of high street banking, OneBanks offers personal, in-branch services for people and SMEs in communities where traditional bricks and mortar banks have disappeared. The Co-op collaboration is part of OneBanks’ purpose to bring back human banking to communities and to accelerate financial inclusion for everyone – including people left behind by the shift towards cashless transactions.
OneBanks, a new banking concept that gives customers and businesses everyday access to any bank or building society from one location, has partnered with leading convenience retailer, Co-op, to launch its first UK kiosk in Denny Co-op, Falkirk.
The fully staffed kiosk, which has created seven new roles for local people, will have a soft launch from Tuesday 15 December, with the service going full live in the New Year. It will signal the town’s first face-to-face banking facility in over two years.
It is set to provide Denny with an independent “gateway” provider, offering access to on-site OneBanks colleagues and services of the big high street banks in one location, irrespective of where individuals and SME customers bank.
OneBanks will be open from 7am until 10pm Monday to Friday and 9 am until 6pm at weekends, giving people in the community access to over 90 hours of banking services each week.
New technology such as facial recognition will help customers who struggle with passwords; and open banking and technology partners will bring world class security to transactions. The OneBanks kiosk will offer everyday banking from cash withdrawals, deposits, payments, transfers, to support and face to face conversation with human beings. Services to customers are free of charge.
Recent data analysis shows that 40 per cent of Scottish towns have either only one bank branch, or none*.
Duncan Cockburn, OneBanks’ Founder and CEO, says: “Co-op is a remarkable retailer with the community right at its heart and by joining forces together here in Denny, we will bring human banking back to the town. It’s so important that residents and businesses have quick and easy access to essential banking services and OneBanks in the Co-op store means that we’re able to provide straightforward banking solutions to ensure financial inclusion for all.
“Recent months have seen radical change in the world and it’s no surprise people are drawn towards brands that listen to their new needs. We want to be a part of this new world and we’re using new, advanced technology to do something a little old fashioned: bringing banking back to people.”
The initiative also results from OneBanks’ partnership with the national Community to Access to Cash Pilot (CACP) project – led by the banking and finance industry working with UK communities to test scalable solutions to keep cash sustainable.
OneBanks’ offering is an original solution to support people impacted by financial inclusion: individuals who choose not to bank, cash-based businesses and areas where bank branches are reduced or non-existent.
Natalie Ceeney, CBE, Chair Community Access to Cash Pilot comments, “OneBanks offers innovation in the cash market and is a welcome addition to the Denny community”.
Denny is located between Edinburgh and Glasgow with a population of circa 8,000. It is looking to improve cash deposit and withdrawal facilities for small local retailers and consumers, and support the community in budgeting and accessing cash digitally.
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*source OneBanks
About OneBanks
OneBanks is not a bank, it does not sell services and is not competitive to banks. It is wholly independent, a bank-agnostic service helping customers access their own bank accounts via app, ATM and/or services in person, for personal and business accounts.
The OneBanks customer team is independent to Denny’s Co-op staff.
Until five years ago, there were four banks in Denny. In December 2018, the last bank closed leaving the town without a bank for two years.
OneBanks is a radical new concept in retail banking. Founder & CEO Duncan Cockburn is launching a unique business model tapping the latest technology and open banking to provide key banking services through community-based kiosks. The aim is to provide financial inclusion for everyone. The fully manned, bank agnostic platform will facilitate everyday banking services and preserve human interaction.
OneBanks has recently announced partnerships with trusted technology companies to enable its services through Trust Stamp, Nuapay, NCR and Accenture Business.
About Co-op
The Co-op is one of the world’s largest consumer co-operatives with interests across food, funerals, insurance, legal services and health. It has a clear purpose of championing a better way of doing business for you and your communities.
Owned by millions of UK consumers, the Co-op operates 2,600 food stores, over 1,000 funeral homes and it provides products to over 5,100 other stores, including those run by independent co-operative societies and through its wholesale business, Nisa Retail Limited. It has more than 63,000 colleagues and an annual revenue of over £10 billion.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
