G4S is planning on expanding its business to include the management of bank branches. The security giant sees this as a valuable business opportunity at a time when many banks are leaving the high street, prioritising services offered online or via mobile.

The service provider is in talks with the main banks across a number of European countries including the UK, the Netherlands and Belgium.

According to Graham Levinson, European CEO for the company, “It is clear from the number of closures that banks don’t want tellers to be counting cash inside branches. It is simply uneconomic for banks to keep staffing bricks and mortar buildings but it makes sense for us.”

In the past year alone, the UK’s six top retail banks have closed over 600 branches. The move is part of a wider strategy on the part of G4S to rebuild its business and reputation after a number of disastrous incidents related to their handling of a series of contracts globally.

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