Cash access is a huge issue in the UK today.
To help address the issue, UK Finance established the Community Cash Access Pilot Scheme, to encourage innovative companies to provide new solutions for cash access.
Now the Pilot Scheme Board has announced the innovations it has decided to support.
A good example of the solutions selected is Sonect, the highly innovative Swiss Fintech. Sonect are to spearhead improvements in cash access in Burslem, Stoke-on-Trent. Burslem has some of the poorest cash access in the UK,
Sonects App based solution allows the public to use their Smartphone to guarantee they get their cash from a local retailer. This is a unique “Click&Collect ” cash service.
Natalie Ceeney CBE, Chair of the Community Cash Access Pilot, is highly supportive of innovation. This is what Natalie had to say
“One of the aims of the Cash Pilots is to trial innovative ideas which keep cash viable in communities, supporting retailers and consumers alike. Sonect is one of these innovative ideas being piloted, and should help residents and small businesses in Burslem
get easier and cheaper access to cash. I welcome Sonect’s participation and look forward to working with them over the next year”.