GLORY Further Increases Investment in Shared Banking Start-up OneBanx

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.”