Empowering banks to offer seamless, app-based cash access through OneBanx kiosks.
OneBanx, the UK-based fintech and a GLORY group company dedicated to enhancing in-person banking services, today unveiled a strategic initiative aimed at integrating cash deposit and withdrawals capabilities directly into partner banks' mobile apps. This move represents a significant step in OneBanx's mission to bridge the gap between digital banking and physical cash access.
Strategic Vision
Recognising the evolving needs of consumers and the banking industry's shift towards digital solutions, OneBanx is developing a suite of secure APIs. These APIs will enable partner banks to offer their customers the ability to initiate and complete cash deposits and withdrawals from OneBanx kiosks using their existing mobile banking apps. This integration ensures that customers can access cash without the need for physical cards or third-party digital wallets.
Complementing Existing Digital Payment Solutions
While digital payment platforms like Apple Pay and Google Pay have streamlined retail transactions, OneBanx’s approach focuses on enhancing the utility of banks’ own apps. By embedding cash access features directly into their apps, banks can provide a more comprehensive service offering—catering to customers who value the convenience of digital banking alongside the practicality of cash.
OneBanx releases a joint white paper with Enryo this week titled ‘Cash as Payments Infrastructure’, which highlights that the vast majority of people still use cash at least occasionally. This underscores that beyond vulnerable groups, most of the population maintains some connection to cash—calling for a long-term strategic approach to ensure these users are served efficiently and sustainably well into the future.
Benefits for Banks and Their Customers
- Enhanced Customer Experience: Customers can enjoy a unified banking experience, managing their finances and accessing cash through a single, familiar platform.
- Increased Digital Engagement: Introducing cash access features within bank apps can serve as a gateway for customers who are less digitally active, encouraging gradual adoption of digital banking services.
- Cost-Effective Infrastructure: Banks can extend their service reach without the overhead of maintaining traditional branch networks, leveraging OneBanx’s kiosk infrastructure.
Collaborative Development and Deployment
OneBanx is actively collaborating with partner banks to pilot this integrated solution, with plans to roll out the service later in the year. This phased approach ensures that the solution is tailored to meet the specific needs of each bank’s customer base.
“We believe the future of banking is about creating real-world utility for digital channels while still supporting vital in-person needs” said Javed Anjum, CEO of OneBanx. “This strategy enables our partner banks to deepen their digital engagement and bring their services even closer to the communities they serve.”
About OneBanx
OneBanx managed service provides our customers a viable alternative when they choose to close a branch by enabling most personal and small business customers’ cash transactions at secure, convenient and shared offsite locations. Our solution has been deployed in supermarkets, building society branches, shopping malls and local community hubs such as libraries.
OneBanx technology solves our customers’ cash challenges of today while enabling transition to an increasingly digital future.
For media inquiries, please contact: press@onebanx.com
