Retail

Glory invests in shared bank branch kiosk provider OneBanks

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August 23, 2021

Glory Ltd., a provider of cash technology solutions to the financial, retail and quick service restaurant industries, has invested an undisclosed sum in OneBanks, a provider of shared bank branch kiosks, as part of a Series A funding round, according to a press release.

On completion of the transaction, Glory will hold a "significant minority" of the capital and Javed Anjum, Glory's head of software strategy and innovation, will join the OneBanks board of directors.

Following the completion of the trial of its shared branch kiosk formats in three locations this year, OneBanks intends to begin full U.K. nationwide rollout, expanding to 15 locations by the end of 2022 and 150 by 2025.

OneBanks has developed proprietary technology that enables multiple banks to offer services from a single physical location at lower cost than a traditional branch.