Strategic approach

As part of the strategic planning for the roll out of banxlocal.uk, we’ve taken in all of the information and data published on branch closures up and down the country.
Everyone knows that when banks decide to shut on our high streets the void left behind is bad for all of the other high street businesses, as well being inconvenient for customers.
The UK economy thrives on small businesses and branch closures are putting this under threat!
Let’s make a change and bring banking services back to the high street in a new, sustainable and customer focussed way!
Get in touch with us at info@banxlocal.uk if you’d like to help us reverse the trend!

What is a Hybrid Banking Experience?

Banxlocal.uk will offer a unique hybrid approach that combines leading edge digital banking supported by customer centric physical branches, with staff on hand to guide through all aspects of banking including savings, loans, international payments and much more.
This approach ensures that customers can have access to the banking services they need, regardless of their location or preferred mode of interaction.

Adverse effects of branch closures

Over the last few days, we’ve posted some examples of the type of people being adversely affected by the high street bank branch closures.

We’re building a new way to bank at banxlocal.uk by offering choice of products, services and delivery channels.

Banxlocal.uk gives the power back to the consumer by providing access to banking through simplicity, choice and trust.

Henry and Beatrice

Henry and Beatrice are lawyers, but due to limited and troublesome access to a branch they haven’t switched their savings for some years, despite being aware their savings could be working harder for them.

They join the 77% of people who haven’t switched their savings accounts for a better return.

If banxlocal.uk was nearby they would have access to a one stop branch for all of their banking requirements.

Henry and Beatrice are lawyers, but due to limited and troublesome access to a branch they haven’t switched their savings for some years, despite being aware their savings could be working harder for them. They join the 77% of people who haven’t switched their savings accounts for a better return.

Mary and Arthur

Mary and Arthur prefer to do their banking in person and value the advice and assistance in branch.

Although they can use the app their current bank offers, they find it confusing and are worried about being scammed.

They have £350k in savings but earn less than 1% in interest.

With banxlocal.uk in their town, Mary and Arthur could easily get a better rate on their savings, all with the peace of mind that ‘in person’ banking brings.

Mary and Arthur prefer to do their banking in person and value the advice and assistance in branch. Although they can use the app their current bank offers, they find it confusing and are worried about being scammed. They have £350k in savings but earn less than 1% in interest.

Jonny

Jonny works for Dave the Butcher, he likes to use the digital app from his current bank, however, he’s been trying to take out a loan to buy his first car but is having difficulty arranging this with them.

It’s also been challenging for him to open a regular savings account through his app and joins 3 out of 10 adults still without a savings account of any type.

Utilising banxlocal.uk will allow Jonny to get the advice and assistance he needs!

Jonny works for Dave, he likes to use the digital app from his current bank, however, he’s been trying to take out a loan to buy his first car but is having difficulty arranging this with them. It’s also been challenging for him to open a regular savings account through his app and joins 3 out of 10 adults still without a savings account of any type.

Dave The Butcher.

Dave runs a small butcher shop where most of his customers pay in cash.

Since the last bank in his town closed, he now has to take two hours from his working day to travel to his nearest branch in the next town just to pay in the daily takings.

Dave joins the 40% of SME’s finding it difficult or expensive to access bank depositing services.

If banxlocal.uk was on Dave’s high street his customer footfall would increase and he’d have more time to be on his business premises serving his customers!

Dave runs a small butcher shop where most of his customers pay in cash. Since the the last bank in his town closed, he now has to take two hours from his working day to travel to his nearest branch in the next town just to pay in the daily takings. Dave joins the 40% of SME’s finding it difficult or expensive to access bank depositing services.

Customer demand

Over the coming days we’ll start talking about the types of people we’ve identified as being affected by branch closures and now have limited access to cash and restricted choices for savings, loans and financial advice. We’d love to hear your stories too, so please visit banxlocal.uk and tell us your story!