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OneBanks is a Scottish start-up aiming to support people who aren't ready for online-only banking and a cashless society. Using open banking protocols — whereby financial data can be accessed by third parties through APIs — OneBanks will operate bank-agnostic kiosks offering services formerly provided by bank branches. Staff will be able to help customers with cash deposits, withdrawals, payments and transfers, regardless of which bank they hold their accounts with. OneBanks' first kiosk will open next week in a supermarket in Denny, a small Scottish town that hasn't had a bank branch since 2018.
If you've passed through a town or city over the past 10 years you've seen shuttered buildings where bank branches once operated. As banking has moved from face-to-face transactions to online and mobile, banks saw footfall drop and closed many of their brick-and-mortar locations. In the UK alone, 3,770 branches have closed since January 2015. While obviously a response to changing consumer habits, some people still rely on in-person banking, and the shift especially affects the elderly and those in rural areas, and anyone who doesn't feel confident using online banking or mobile apps. It's estimated that 9 million people in the UK struggle to use the internet independently.
While most fintech innovation is focused on tech-savvy consumers, OneBanks is leveraging advanced technology to make banking accessible to all. Which services can your brand launch or partner with to make sure no one is left behind?
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