The Race Against Time: Why Britain's Communities Can't Wait for Traditional Solutions

The statistics are sobering. Since the beginning of 2025, fewer than 5,000 bank branches remain open across the UK—down from over 21,000 in 1986. That's a staggering 76% reduction over four decades. And the pace isn't slowing.

Just this year, major high street banks have announced hundreds more closures. NatWest revealed 53 branch closures in January alone, while Lloyds Banking Group is shuttering 136 locations across its Halifax, Bank of Scotland, and Lloyds brands. The cumulative effect? Over 6,000 branches have closed in just the past decade, averaging 54 closures every month. 

The Human Cost Behind the Numbers

While banks point to declining branch footfall and the rise of digital banking, the reality on the ground tells a different story. Recent parliamentary debates have highlighted that over 20 million people in the UK face financial exclusion or are underserved by the current system. These aren't just statistics—they're elderly residents in Newbiggin-by-the-Sea who've been without a bank for 26 years, small businesses in Bedlington losing their last branch, and countless rural communities left behind. 

Research shows that 55% of people still prefer face-to-face banking, and only 14% of those aged 85 and over bank online. For many, a bank branch is more than a service point—it's a community anchor, a source of trusted advice, and a vital lifeline for managing their finances safely. 

Banking Hubs: A Step Forward, But Not Enough

The government's commitment to deliver 350 banking hubs by the end of this parliament is welcome progress. These shared banking spaces, operated by the Post Office and funded by major banks, provide basic cash services and access to community bankers from different institutions on rotation. As of mid-November 2025, 178 hubs are operational, with more in the pipeline. 

However, independent analysis suggests Britain actually needs approximately 1,200 banking hubs to adequately serve communities that have lost their bank branches. At the current pace of rollout, many communities could wait years—if they get one at all. Meanwhile, branch closures continue to outpace hub openings, widening the access gap. 

banxlocal: Building What Britain Actually Needs 

This urgency is precisely why we're accelerating our plans to open our first branch in 2026. While banking hubs provide a temporary patch, banxlocal is building something fundamentally different—a permanent, multi-bank branch network that gives people comprehensive access to multiple banks, building societies, and financial services from a single location. 

Our model goes beyond basic cash transactions. We're creating branches where customers can open accounts with digital-first banks that have never had a physical presence, compare savings rates from multiple providers on live displays, access private consultation booths for complex matters, and seamlessly move between digital and in-person banking. This isn't just preserving the old model—it's innovating for the future while ensuring nobody is left behind. 

As we finalize our site selection and complete our technology integration, we're more convinced than ever that Britain's communities can't afford to wait. The question isn't whether we need a new approach to high street banking—it's how quickly we can deliver it. 

With over 300 banks registered in the UK, it's time to move beyond the dominance of the big five and bring real choice back to the high street. banxlocal is building that future, one branch at a time.