Glory has acquired an additional stake in OneBanx, increasing its ownership to 91.99%, to enhance cash service accessibility in line with new FCA regulations in the UK.
Information on the Target
OneBanx, established in 2019, is a pioneering provider of fully managed shared banking solutions aimed at both individual and business customers in the UK. The company has developed a unique platform that facilitates essential banking services through a blend of personalized assisted services and advanced self-service features. Currently, OneBanx's solutions are operational with three UK financial institutions, facilitating thousands of transactions for customers of major UK banks.
OneBanx’s innovative mobile-first approach empowers users with advanced functionalities, such as enhanced authentication during deposits and expedited processing for business transactions. This strategic offering not only addresses current banking needs but also supports customers transitioning to digital banking solutions.
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Industry Overview in the UK
The UK banking sector is undergoing significant transformation due to changing consumer behaviors and technological advancements. With a growing preference for digital banking solutions, customers increasingly demand convenient options that cater to their di
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