Author: Nicholas Collinson

Banxlocal’s multi-bank proposition will significantly enhance choice and value for customers in several ways:

Diverse Banking Options: By partnering with multiple banks, Banxlocal can offer a wider range of products and services. This means customers can choose from various savings accounts, loans, and investment options tailored to their specific needs.

Competitive Rates: With access to multiple banks, Banxlocal can help customers find the best rates for loans and savings, ensuring they get the most value for their money.

Convenience: Banxlocal’s hybrid model of digital and physical branches provides the convenience of online banking with the personal touch of in-person service. This can be particularly beneficial for the 55% of the UK who still prefer face-to-face interactions for complex financial decisions.

Enhanced Customer Service: By leveraging the strengths of multiple banks, Banxlocal can offer superior customer service, addressing issues more efficiently and providing more comprehensive support.

Innovation and Flexibility: The multi-bank approach allows Banxlocal to quickly adapt to market changes and introduce new services, keeping pace with evolving customer expectations and technological advancements.

Overall, Banxlocal’s model will provide customers with more choices, better rates, and a more personalised banking experience, addressing the growing demand for value and flexibility in the banking sector.

If you’d like to find out more, please get in touch info@banxlocal.uk

Recently we were asked to define our five key service propositions of the Banxlocal.uk approach to market and explain how this is innovative in the retail banking market, so here are what we saw as the top five – this was tough as we actually address so many issues we see in the current service delivery of banking.
We’re obviously keen to have insights on how you see our approach changing the way people bank too!

1. Hybrid Banking Model:
Combining physical branches with digital banking services, allows customers to access multiple banks from a single location and choose how they bank.

2. Independent Branch Network:
Providing a platform for digital, neo, and lesser-known banks, as well as established regional building societies and banks, to have a physical presence on UK high streets again.

3. Access as a Service:
Offering a multi-access platform that integrates various banking services as marketplaces through a centralised core, supported by manned branches, terminals and a customer SuperApp.

4. Financial Inclusion:
Addressing the issue of financial exclusion by ensuring that communities have access to essential banking services, bridging the gap between digital and physical banking.

5. Innovative Technology Integration:
Utilising AI, latest fintech developments and the open banking frameworks to provide a seamless and efficient banking experience, enhancing customer service and operational efficiency.

These key elements mean Banxlocal.uk’s approach is innovative and redefines the traditional bank branch model, making banking more accessible and inclusive while leveraging modern technology to improve service delivery

We welcome your thoughts! Get in touch today info@banxlocal.uk

It’s become apparent over the last months since this post that increasing numbers of people are seeing the decline in the local community due to the major banks branch closures in their area.

Our CCO Nicholas Collinson has been speaking to a variety of community groups and small business owners and has some compelling statistics around this now.

At banxlocal.uk we are committed to bringing financial inclusion, but moreover financial sustainability to our communities.

Get in touch with Nicholas Collinson if you’d like to share your story, add your voice, or help our mission to bring banking back to the high street.

🌟 At banxlocal.uk, we’ve been talking with and listening to our future customers, and one thing stands out: the importance of cash as a payment method. 💸 (We’re seeing this sign increasingly displayed in local businesses)

Whether you’re a business owner, a young professional, or someone who values simplicity, we get it.

But guess what? We’re ready to tackle this challenge head-on! Get in touch today to see how we’re tackling these real-world issues! 💪

🏦 Banxlocal.uk: Revolutionising Retail Banking

Are you tired of the impersonal nature of digital banking? Longing for the days when you could walk into a local branch and chat with a friendly face? Banxlocal.uk has the solution! 🌐💼

The Problem: A Shrinking Banking Landscape
The shift to digital banking has led to a drastic reduction in physical bank branches. From 20,000 branches, we’re down to just 5,000 today. Yet, over 55% of people still prefer face-to-face banking. 🏦📱

Our Innovative Solution: Bridging the Gap
Banxlocal.uk bridges the gap between old-school branches and modern digital convenience. How? By creating a groundbreaking “Total Banking” service platform.

Here’s how it works:

Hybrid Model: Imagine a shared branch that combines the best of both worlds. We bring together the innovation of the last 15 years in retail banking to create a unique hybrid model. 🌐🤝

Multiple Banks, One Location: Customers can access multiple banks from a single Banxlocal.uk branch. No more driving 30 minutes to reach a bank – we’re bringing banking closer to you! 💡🏢

Financial Inclusion: Our independent branch network ensures that even underserved communities have access to essential banking services. Say goodbye to financial exclusion! 🌍🔑

Choice and Trust: Banxlocal.uk gives you control over how you bank. Whether you prefer digital transactions or a friendly chat with a local banker, we’ve got you covered. 🙌💰

Join us in revolutionising retail banking! Visit https://banxlocal.uk to learn more. Let’s close the gap and build a better banking future together. 💪🌟

Feel free to share this post and spread the word about Banxlocal.uk! 😊📢

🌐 Embracing Both Worlds: Offline and Online Banking 🌐

In the aftermath of the recent #crowdstrike outage, it’s become abundantly clear that striking the right balance between offline and online operations is crucial. While online services offer convenience, they also come with vulnerabilities. The banking industry, in particular, can draw valuable lessons from this incident.

At banxlocal.uk, we’ve built our proposition around this very idea. Our approach combines the best of both worlds: physical branches staffed by knowledgeable professionals and backed by cutting-edge technology. When the digital landscape falters, our human touch remains a reassuring constant.

If you share our vision for revolutionising banking at the point of delivery, we’d love to connect. We’re currently raising capital and eagerly seeking potential partners and investors! 🚀💼

Imagine a world where digital and physical banking seamlessly complement each other. Here’s how it will benefit users:

Hybrid Services: Customers can access both online and in-person services. For routine transactions, digital platforms may offer speed and convenience. For more complex financial advice or personalised assistance, physical branches remain essential to the vast number of customers.

Personalized Guidance: Combining data from digital interactions with face-to-face consultations allows banxlocal.uk to offer tailored advice. Imagine receiving an alert about a potential overdraft and then discussing solutions with a knowledgeable advisor at your local branch.

Education and Workshops: Physical branches could host financial literacy workshops, retirement planning seminars, and investment webinars. These events would empower customers to make informed decisions.

Community Engagement: Banxlocal.uk branches will serve as community hubs. By integrating digital tools, they could enhance local engagement. Picture a branch hosting a virtual town hall meeting or supporting local charities through online fundraising.

Trust and Security: Many customers still prefer face-to-face interactions for sensitive matters. A combined approach ensures that trust and security remain at the forefront, whether it’s simply helping combat scam and phishing emails, or unbiased guidance and reassurance about transaction legitimacy.

Your Voice Matters: If you’re unhappy with the current accessibility to banking, speak up! Ask us at banxlocal.uk how we are going to revolutionise the banking landscape. Let’s advocate for a financially inclusive future.

Get in touch at info@banxlocal.uk

Access to cash plays a crucial role for small businesses such as restaurants, hairdressers and florists etc. When bank branches close in their towns, it has several effects:

1. Operational Challenges: Businesses often need to make frequent cash deposits and withdrawals. With bank branches closing, they must travel farther to access banking services, which increases administrative costs and reduces operational efficiency.

2. Community Impact: If a bank branch is the last one in town, its closure can significantly affect the community. Reduced patronage and community amenity lead to economic decline. Moreover, shopkeepers struggle to safely bank cash-takings and cheques without local branches.

3. Financial Exclusion: Many small businesses rely on branches as their primary means of banking. When these close, it impacts their ability to manage finances. Additionally, elderly and disabled individuals, who may not use online banking, face challenges when the last branch shuts down.

4. Long-Term Viability: The closure of branches also raises concerns about the overall viability of the cash system. Measures like the Access to Banking Standard and Post Office services aim to mitigate the impact, but more needs to be done to address the negative consequences.

Here at banxlocal.uk we believe in maintaining and improving access to cash services, amongst our other service lines as it is vital for small businesses’ survival and community well-being. 🌼🍽️💰

If you’d like to hear more about what we’re doing to solve these real-world problems, please drop us a line to info@banxlocal.uk

🏦 banxlocal.uk: Solving the access-to-cash crisis!

With branch closures reducing from 20,000 to just 5,000 today, traditional banks have deserted the high street.

But banxlocal.uk steps in, bringing innovative banks back to local communities through our unique Multi-Bank independent branch network. Let’s reinvigorate our high streets! 💪🌟

Already a week has passed by since we were in Lisbon and our CCO Nicholas Collinson was preparing to pitch in the final 16 of the #EBAday Fintech Zone.

Reflecting on the event as a whole, we would again like to thank Finextra for the opportunity.

Since the event many of the exhibitors, speakers and other contestants have reached out to us offering support, advice and assistance and we would like to say thanks to all of these people for recognising that there is still much to do to make banking accessible and inclusive.