Cash infrastructure in the UK
Changes in cash usage caused by digitalisation and an increased move towards online banking, exacerbated by the Covid pandemic, have led to a decline in access to cash across the UK.
Nevertheless, cash still underpins the UK economy and is used daily by over 11 million people. However, nearly 50% of UK bank branches have closed since 2015, making cash and associated services less accessible than ever before.
With the Bank of England’s ongoing commitment to physical currency and cash in the high street, a future model for guaranteed access and banking services is urgently required. The 2018 Access to Cash Review concluded that whilst cash is declining, the majority of consumers value its availability and, for many, it remains a necessity. In May 2022, the Government announced legislation to protect access to cash as part of the Financial Services Bill. BankHive can futureproof the relationship between banks and their customers, bringing banking back into the community and ensuring access to cash is maintained for everyone.
BankHive by NoteMachine – the future of banking in the community
BankHive is a unique banking solution supplied, installed and fully managed by NoteMachine – an integrated, technology-first, financial services company that serves retail and corporate businesses, and operates as a partner to many national financial institutions.
BankHive is a modular, drop down, ‘plug-and-play’ fully functional banking facility that can be located almost anywhere, such as retail parks, in shopping centres, on high streets, on railway station platforms and at travel hubs. In fact, wherever the public needs banking services and cash, BankHive has the solution. They are particularly valuable for communities that have lost most, or all, of their high street bank branches or where a higher proportion of the population is digitally excluded.
Comprehensive facilities management capability
BankHive is delivered by one supplier, designed, built, deployed and managed by NoteMachine, in a complete ‘turnkey package’ offering full cost transparency. The full range of services include these seven critical steps: source, create, build, innovate, install, manage and support.
The BankHive team will combine product design, engineering, facilities management, building services and retail sector fit-out expertise, providing a customised, end-to-end suite of services to meet any bank’s specific requirements.
BankHive is a highly cost-effective alternative to traditional bricks and mortar construction. With a fully mobilised project team ready to go, BankHive hubs can be designed, built and deployed wherever there is a need for access to cash and convenient banking services.
The benefits of BankHive’s bank-in-a-box solution
- Quick deployment – using the payment technology and infrastructure that is already in place with leading banks and the Post Office, BankHive can be deployed as part of a brandable, modular solution allowing operators to install a new bank branch quickly and professionally in high-footfall areas in days, rather than months.
- Link to any bank – ensuring consumers and businesses can continue to use the services with their bank of choice, offering access to cash, multi-bank deposits, cash withdrawals, mortgage advice and face-to-face banking services via live links.
- Easily adapted to the needs of an area – either as a single branch hub or a shared banking facility.
- Automated deposit solutions – utilising NoteMachine’s 9,500 UK cash machines, financial institutions can allow customers to deposit their money without the need to operate a staffed bank branch.
- Excellent customer service – BankHive has a dedicated helpdesk and customer call centre, with Account Managers providing a single point of contact for a seamless customer experience.
- In-house processing platform – in-house engineering, CIT, transaction processing and service centre support future functionality, as well as offering real-time portal and management information.
- Provision of all branch cash – BankHive’s six cash distribution centres support branch coverage nationwide, as well as full cash-in-transit services.
- Bespoke branding and advertising services – working with financial institutions’ branding teams ensures a personalised look and feel with brand guidelines strictly adhered to.
Talk to us today about the benefits of BankHive, offering access to cash and a modern, adaptable solution where a retail presence can be created quickly and efficiently.
BankHive – the bank branch of tomorrow, where it is needed today.
Charlie Evans – Sales Director
T: 07500 603689