When I met the founder of banxlocal.uk (or at least the founder of the concept that has evolved into this project) I was acutely aware of the access to cash and financial exclusion issues on the UK’s high streets because of my time serving as a district councillor. The legacy banks have deserted the high street, leaving holes that potentially could never be filled.
banxlocal.uk does fill this gap, simply by bringing the new and innovative banks to the high street. Opening branches and reinvigorating the local economies.
Think about it, the high street economy NEEDS footfall! Banks provided that, people came into their town centres to do their financial transactions, for example switching savings or taking a loan or getting their holiday money, and then whilst there probably bought a coffee, a bunch of flowers and maybe some shoes they saw in the window of the shoe shop as they walked by.
Fast forward to so many towns now, the shoe shop, florist and coffee shop are seeing reduced footfall since the banks closed, so they then in turn look for alternative ways to sell, perhaps online (good luck coffee retailers!)
From a personal perspective banxlocal.uk has become a labour of love. I believe that change is possible, fundamentally, and I sincerely believe that the retail banking space (including service to SME’s) needs a shake up!
I’m posting this specific update for many reasons, firstly to get interaction from anyone out there passionate about the reversal of the trajectory I can see, then to engage with financiers who care, and whom I can easily demonstrate the multiples achievable through our hybrid model. But most importantly (to me) I want to change the world! The greed of the banks has been demonstrated time and again with bail outs and such like, yet we still allow this to continue where they decimate our communities…
Time for change I think.
Take a look at banxlocal.uk
