15th May 2016 20:17
LONDON (Alliance News) - Security services and outsourcing company G4S PLC is understood to be planning to capitalise on a retrenchment by traditional lenders by opening mobile or high street banking units in the UK and Europe, the Financial Times reported.
G4S told the FT it was in talks with banks in the UK, Netherlands, Cyprus, Greece, Belgium and Ireland over the launch of high street branches.
The idea behind the plans would be for G4S to provide cash handling and depositing services for customers of different lenders from the same outlet. G4S, using its fleet of armoured vehicles and its secured locations across the country, already transports and stores cash for central banks, high street lenders, retailers and public services bodies.
https://next.ft.com/content/d733dc56-1826-11e6-bb7d-ee563a5a1cc1
By Sam Unsted; [email protected]; @SamUAtAlliance
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