G4S, a UK’s secure cash management firm, is partnering with OneBanks, a shared branch banking innovator, to enable banking customers to pay bills, deposit and withdraw cash at OneBanks shared banking kiosks currently being trialled in the UK.

The kiosks, which are fully manned, have been designed to use Open Banking technology to offer face to face banking to communities which no longer have local bank branches.

G4S will equip OneBanks kiosks with a Cash 360 intelligent safe which will allow customers to pay utilities and other bills with cash. This same intelligent technology will also enable the customer to make cash withdrawals.

More compact and lower cost installations

The OneBanks facility is equipped with a touch screen which also allows customers who may not have a credit card to purchase goods and services from online providers, such as Amazon, eBay or ASOS, using cash.

Ultimately this G4S facility will enable OneBanks to offer a more compact and lower cost version of its shared banking installations more suitable for corner shops and convenience stores.

The initial format currently being trialled in Denny, near Falkirk in Central Scotland is designed for use in larger supermarkets, shopping malls, and other high footfall locations such as railway and bus stations.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

Greater convenience for residents and small businesses

Since the Denny trial was launched, as lockdown eased in April, local residents have been taking advantage of the kiosk to carry out their everyday banking transactions.

The ability to deposit cash at the kiosk has been particularly popular for local small businesses as it has enabled them to avoid a round trip of nearly 15 miles to their nearest bank branch to bank their cash takings.

The range of service at Denny will be enhanced once the G4S technology is installed later this month. Further trials are planned later this year at three sites including two more on Scotland and one in England.