The OneBanx app brings together all your accounts in one place. So you can decide which of multiple accounts you want to take out money from.
The app works via the Open Banking platform which allows you to directly access any bank account from any digitally enabled device in an entirely secure environment.This video above is the first example of an open banking powered ATM globally. By operating outside the existing Link ATM infrastructure, OneBanx can also enable cash deposits via ATMs. This has huge potential to reduce the operating costs of cash because we can recycle it within the hardware, so that the cash paid in by one customer can be withdrawn by another, reducing the need to transit cash.
Yes, cash is in long term decline, but so are cards, with more and more people using their smartphone as their wallet.
Yet cash is still important for many, and just having digital banking isn’t the answer for everybody. This open banking enabled solution, helps people access cash and help connect them with the digital world.
We think Britain will go cardless, long before it goes cashless, and we are showing the way.