Finance & Economics

TSB Pilots Banking Pods

The British commercial bank TSB established cooperation with the Note Machine company in order to create banking pods instead of traditional local branches.

TSB Pilots Banking Pods

Source: Pixabay.com

As part of the partnership, the bank will not only change the format of its presence in the British regions but also expand the area of this presence. Traditional local branches will close this spring.

The first three new branches in Wood Green (North London), Wigan, and Luton will be located in shopping centers and will be daily. The bank pods will provide customized and automated services to local residents.

Similar to the banking pop-ups announced by Barclays in January, TSB modules are semi-permanent structures with a check-in area for meeting and greeting customers. There is also a separate space for consulting consumers of services.

The modules use BankHive technology from NoteMachine, a multifunctional device that provides users with access to cash withdrawal services. Deposit opportunities will be added in the coming months.

Gary Jones, Director of Customer Relations at TSB, said that the bank intends to introduce new formats of interaction with customers in order to communicate more trustfully. He also says that the financial institution will continue to implement video banking proposals on a broader scale.

The bank, which last month announced its commitment to the strategy of eliminating traditional branches, also operates 43 pop-up services. Pop-ups work one day a week in public places such as libraries or town halls. This service is provided by TSB consultants.

Also, the bank is implementing a separate pilot project with OneBanx in Nottingham at the Victoria Shopping Centre. OneBanx technology provides customers with access to their accounts in an open banking network using the TSB Cash Kiosk application.

 

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.