Investment follows the UK Financial Conduct Authority's proposal of new rules to safeguard cash services
Glory (TYO: 6457), a global leader in cash technology solutions for the financial, retail, and quick service restaurant industries, today announced the acquisition of additional shares in OneBanx, a fully managed shared banking solutions provider. As a result, Glory now holds 91.99% of OneBanx's outstanding shares. (The majority acquisition of OneBanx's shares was completed with additional investment in July 2023.)
Founded in 2019, OneBanx developed their shared banking solution to deliver basic banking services covering the needs of both individual and business customers through personalised assisted service and advanced self-service. The solution is currently live with three UK financial institutions and has powered thousands of transactions performed by accountholders of all major UK banks. OneBanx's mobile-first approach unlocks advanced functionality including stronger authentication at the point of deposit and faster interactions for business deposits as well as supporting customer transition to digital channels.
The FCA recently proposed new rules to maintain reasonable access to cash for personal and business customers across the UK. Glory's investment will further underpin OneBanx' ability to offer our customers future proof, cash services in support of the 'Access to Cash' agenda.
Toshimitsu Yoshinari, Chief Solutions Officer at Glory Global Solutions, said "We are excited about the added value we can provide to our customers as a result of this transaction combining Glory's experience and scale in the UK market with OneBanx's innovative shared banking platform. OneBanx can help banks bridge the gap for customers who rely on branches for cash transactions while also introducing many of them for the first time to the convenience of digital banking."
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About GLORY:
As a global leader in cash technology solutions, we provide the financial, retail, cash center and gaming industries with confidence that their cash is protected and always working to help build a stronger business.
Our cash automation technologies and process engineering services help businesses in more than 100 countries optimize the handling, movement and management of cash. While we span the globe, we personally engage with each customer to address their unique challenges and goals enhancing staff efficiency, reducing operating costs and enabling a more rewarding customer experience.
Employing over 11,000 professionals worldwide with dedicated R&D and manufacturing facilities worldwide, GLORY is built on a rich customer-focused, technology-driven heritage spanning more than a hundred years.
For further information please visit www.glory-global.com or follow us on Twitter: http://twitter.com/glory_global.
About OneBanx:
All Banks. One Location. 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.
Learn more about OneBanx https://onebanx.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20231214831486/en/
Contacts:
Paul Race
Vice President, Strategic Marketing
+44 (0) 7887 052366
paul.race@glory-global.com
