Bank Branch News

Launch of One-Stop Banking Hub in Scotland

On 15 December a new approach to branch banking started in the UK. OneBanks has partnered with the Co-op retailer to open a fully staffed kiosk in the shop. Although opening in December, it only goes fully live in January. The kiosk is opening in Denny, a Scottish town which has not had any banking facilities for over two years. It is estimated 40% of Scottish towns have one or fewer bank branches.

What makes this new is that the kiosk acts as an independent ‘gateway’ to the services of all of the big high street banks for anybody who needs them. The opening hours of the kiosk are those of the shop, so banking services are available for 93 hours a week. The OneBanks kiosk will offer everyday banking from cash withdrawals, deposits, payments, transfers, to support and face to face conversation with human beings. Services to customers are free of charge, with OneBanks charging commercial banks an agreed fee for work done.

One of the goals of OneBanks is to ensure banking is available to all. To deliver this staff are trained and present to assist. It is also using facial recognition technology to help people who struggle with passwords. This innovative approach is possible because of open banking, and OneBanks is working with technology partners to bring world class security to transactions.

The initiative also results from OneBanks’ partnership with the national Community to Access to Cash Pilot project – led by the banking and finance industry working with UK communities to test scalable solutions to keep cash sustainable.

Societe Generale to Close 600 Bank Branches

The French group Societe Generale is combining its retail operations with its Credit du Nord subsidiary. As part of this move it will close 600 branches, leaving it with 1,500 branches by the end of 2025. The aim is to save €450 million a year.

At the same time, it plans to grow its online bank unit Boursorama from 2.5 million customers to 4.5 million over the same time period.

Santander Closes a Third of its Bank Branches

Santander has announced it is to close up to 1,000 branches in Spain, according to Reuters. It is closing a third of its bank branches and reducing its workforce by about 14%.

Danske Bank Seeks Transformation

Dankse Bank have recently announced they are closing four bank branches in Northern Ireland but also that they are investing £500,000 to upgrade four other branches.

The closures reflect the move to online banking along with the use of apps and telephone banking. Upgrades will provide modern customer service technology and enhanced self-service solutions. This is part of a £3 million investment programme across 15 branches in Northern Ireland. The closures leave Danske Bank with 34 branches in Northern Ireland.

At the end of November Dankse Bank laid off 257 employees across Denmark, Norway, Sweden and Finland, part of a programme announced in October to reduce head count by 1,600 over 12 months. The programme aims to reduce costs and make the bank simpler and more competitive.

Lloyds Banking Group to Close 56 Bank Branches

Lloyds Banking Group, which includes Halifax and the Bank of Scotland, is restarting its planned closure of 56 bank branches, which were delayed by the COVID pandemic.

The closures are a response to the migration of customers to using digital methods to access banking services.

Nationwide Bucks the Trend on Branches

The UK’s largest building society, the Nationwide, will keep at least one branch open in places where it currently operates until at least 2023. It has around 650 branches at the moment.

Nationwide’s branch network director, Mandy Beech, explained that 'by extending our branch promise until at least January 2023, we can continue to provide face-toface help and advice and remain a part of so many communities across the UK'.

It wants to reassure members that they can continue to get face-to-face help and advice at ‘what remains a worrying time for many’.

Innovation at NatWest Branches

Bank branches have faced challenges operating safely during the pandemic, but they are responding with new innovations. NatWest, a major UK commercial bank, is trialling across 178 branches ‘virtual queues’. Visitors scan a QR code and are given their position in the queue. They have the option to leave the branch and to be sent a text message when they need to return.

NatWest have also introduced a service that allows customers to request bespoke assistance if they need it, for example if they need a quiet space when they visit a branch, to be spoken to more clearly and slowly or even to request a translator. So far 38,000 customers have registered for this ‘Banking My Way’ service.