A modern-day banking solution: How OneBanks is branching out



Ronny Munster, who is an experienced CFO but who also  has extensive experience of delivering broader business consultancy in strategic financial contexts, was invited by OneBanks to consult on financial modelling and broader business issues which culminated in an additional £3m investment, allowing OneBanks to bring its modern-day banking solution to market.

“All banks. One location. All welcome.” This is the strapline for OneBanks, whose purpose is to facilitate everyday basic banking needs via OneBanks Hubs, which are operated as kiosks within Co-op branches in British high streets. The service enables people to deposit and withdraw cash, make payments and get help with setting up or using online banking regardless of which bank they belong to.

This innovative solution – a combination of app and technology platform – was in response to a growing banking problem: hundreds of high street banks closing branches every month, leaving thousands of banking customers looking for a personal and human service and, often, unable or unwilling to bank by internet. By law, these banks are obliged to make reasonable alternative arrangements for their customers.

OneBanks provides a solution between traditional banking and app based digital banking.


Ronny was drafted in to help as OneBanks needed to raise finance but did not have a robust financial model in place that would meet investors’ needs for scenario modelling and detailed projections. Without the necessary cash reserves to commission a ‘bespoke’ model such as those provided by ‘the Big Four’, OneBanks was unable to credibly present funding strategies to the Board, nor further engage


Ronny built and installed a 5-year financial model that could demonstrate many varying financial performance scenarios. Modelling detailed variables such as revenue drivers by customer or transaction type, cost of sales inputs and staff numbers as a function of business growth. The result of these variables and drivers enabled the client to have a flexible P&L, balance sheet and cashflow table, monthly over five years which he worked with the business owner to identify realistic options for base, best and worst-case scenarios.In addition, Ronny fulfilled a broader remit, providing advice on wider business issues specific such as staffing, cash management, Know Your Customer (KYC) and compliance.
He also advised on non-banking specific issues, such as helping the CEO and Founder to work through issues around outsourcing versus inhouse development, whether to capitalise the technology expenditure and how best to present the results for third party reviews.


Ronny’s financial model was built on spreadsheet logic, making it not only easy to use but also capable of accommodating changing assumptions, which afforded maximum modelling effectiveness and supported a ‘flex and grow’ mindset.

The model was built from scratch utilising ideas from the CEO’s own business model, which actually saved OneBanks many thousands of pounds’ investment. This was a bespoke development of a rapidly adaptable existing solution, tailored to the company’s exacting requirements. This made it a perfect fit, at a fraction of the cost, with no lengthy and drawn-out development cycles.

The outcome: OneBanks’ improved financial modelling secured an additional £3m funding from a Japanese investor and is now onto its third round of funding, with the company having opened multiple new kiosks. OneBanks’ software works with every bank that is signed up to Open Banking in the UK and is solving a real, everyday problem for many people around the country.

Ronny’s uses this model framework for other companies in differing sectors, demonstrating how applicable it is across verticals for companies looking to grow through accurate and effective scenario planning, without engaging a full-time FD or CFO.

“Ronny provided support at a time when we needed it most. His model for investment and management reporting gave us clarity and confidence, whilst his financial support filled a significant gap in the business, which would have been costly to fill by other means. Ronny was great to work with and taught us a lot, helping us to secure the investment we needed”.
Duncan Cockburn, Founder & CEO, OneBanks

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