Piloting the UK’s first white label multi-bank branches
Three major UK Banks, with circa 70% of the business banking market share, formed a consortium to pilot a joint ‘white label’ branch for their business customers. Facilities, overheads and hardware costs are shared between banks.
Vaultex was selected to design, build and operate a number of sites for the consortium under the ‘Business Banking Hub’ brand. Each site contains a range of dedicated, white-label, self-service deposit and exchange machines for SME customers.
Project managementVaultex acted as the programme manager for the consortium, working closely with the banks to select locations, fit-out premises and provide concierges to assist their customers.
A bespoke IT solutionIncluding identification & verification, APIs, settlement and reporting.
ProcurementA comprehensive exercise to select the optimum hardware and software partnerships.
New softwareConceived and built new methods of customer identification.
HUB Build: The hubs were built within budget, time and specification constraints.
Improved Level of Service: Providing an outstanding, improved level of service to the banks’ customers. Transactions were quickly processed via the UK’s Faster Payments system
Bespoke configuration of Devices: All device were configured to recognise each customer’s bank; displaying appropriate messages and branding. The banks were able to set deposit limits by product and by customer.