The Weekly Wrap: all you need to know by Friday COB | May 29th

By Puja Sharma

The Weekly Wrap is published every Friday and recaps the week’s main stories and deals, as well as upcoming events and announcements for Prime subscribers only.

The Big Story

SBS has launched Digital Branch, a cloud-native branch servicing platform designed to help UK banks and building societies modernise physical branch operations while reducing reliance on legacy teller systems.

The tablet-based platform enables financial institutions to manage traditional branches, mobile banking locations and pop-up branches through a single system. SBS said the platform was developed in collaboration with UK building societies and is intended to support institutions facing increasing operational costs and regulatory pressures linked to branch banking services.

According to the company, more than 6,000 UK bank branches have closed since 2015, while demand for in-person banking services continues. SBS cited industry data showing that 70% of UK adults visited a bank branch during 2024, with younger consumers among those most likely to value physical banking access.

The company said the platform supports regulatory requirements including Consumer Duty and Access-to-Cash obligations, while allowing institutions to modernise branch infrastructure without replacing core banking systems. Features include built-in audit controls, customer servicing tools and support for passbooks and branch compliance processes. SBS estimates the platform can save approximately 1,946 staff hours per branch annually and reduce teller-related IT costs by up to 20% through automation and cloud-based infrastructure. The launch forms part of SBS’s wider UK strategy focused on helping mortgage and savings institutions modernise customer service operations while maintaining local branch access and community-focused banking models.

Deals of the week

• Bloomberg, Lombard Odier collaborate on investment management
• Orbital launches new currency corridors via Banking Circle tie-up
• TrueLayer acquires In3 to launch Pay by Bank credit in Europe
• Finloop and Marketnode partner on cross-border tokenised finance
• Bloomberg, Lombard Odier collaborate on investment management
• Luffa secures investment from GoFintech Quantum at $220m valuation
• Arib raises $23.5m to expand digital financing platform
• Pivot raises $40m Series B to expand AI-driven procurement
• Cycles raises $6.4m to expand clearing network for digital asset markets

Be on the lookout for

IBS Intelligence is proud to bring you the 2026 edition of the Annual IBSi Digital Banking Awards - Recognising excellence in digital banking transformation across Digital-Only Banks, Neo and Challenger Banks, Digital-First NBFCs, Payments Banks, and digital banking units of traditional financial institutions, as well as the technology providers enabling these transformations.

The era of branch-centric banking has decisively given way to digital-first engagement. In today’s on-demand economy, customers expect seamless, always-on access to financial services, delivered through intuitive digital channels, powered by robust technology, and designed around user experience rather than physical presence. Digital-only and digital-first institutions have emerged as leaders in meeting these expectations, redefining how banking products are built, delivered, and consumed.

Neo and challenger banks, alongside progressive incumbents, continue to reshape the global banking landscape by leveraging modern platforms, data-driven decisioning, and customer-centric design. Their implementations are setting new benchmarks for agility, scalability, inclusion, and operational efficiency.

DBA 2026 seeks to recognise the most innovative, impactful, and scalable digital banking implementations globally, highlighting projects that demonstrate measurable outcomes, strong execution, and meaningful customer impact.