Frequently Asked Questions

BANQloop is our all-in-one waste management ecosystem—a platform that banks valuable commodities into the closed loop economy. Our suite of products and services provides our ideal clients (businesses including airports, stadiums, college campuses, city municipalities, office buildings, apartment complexes, and public transportation stations + hubs) a way to transform their waste management ecosystem to maximize budgets and minimize waste. By offering a 15:1 volume reduction with 40-55% cost savings, saving upwards of 9% on collection cost, we’re able to leverage relationships with our customers through partnerships like the San Diego Airport Innovation Lab to reach our customers. BANQloop consists of:

  • BANQ X1 Smart Trash Unit
  • BANQcare Service
  • loop IQ Data and Supply Chain Intelligence Platform

BANQloop is our all-in-one waste management ecosystem—a platform that banks valuable commodities into the closed loop economy. Our suite of products and services provides our clients a way to transform their waste management ecosystem to maximize budgets and minimize waste.

BANQloop features BANQ X1

BANQ X1 is a smart, AI-driven, robotic trash bin that auto-sorts and processes recyclables, compost and trash in a plug & play waste management platform. It’s designed to save money, increase recycling efficiencies, help the environment and incentivize the user. It’s a give-the-people-what-they-want solution that inspires and resonates with clients and end-users alike. And… it’s so simple, your grandmother can use it!

BANQcare Service

BANQcare is our customer-centric service platform. Our customers are complex enterprise groups like airports, and sophisticated world-class cities such as London, England or smaller progressive municipalities like City of Berkeley. BANQcare, simply put, is the service platform our BANQ X1 customers engage with on a daily basis.

loop IQ

Loop IQ is out data and Supply Chain Intelligence Platform.

BANQ X1 is a smart trash can, within a patented plug-and-play system. It uses AI and robotic technology (with 95% accuracy) to automatically sort, grind down and package (in biodegradable wrapping) all trash and recyclables into vacuum-sealed, deliverable cubes. Data is collected about the contents inserted, and the user is immediately rewarded on the BANQloop App (or Rewards Card) with promotions, rebates, Carbon Points and great pride for helping the planet. Pick-ups are automatically scheduled when the UNIT is full.

BANQcare is our customer-centric service platform. Our target customers are complex enterprise groups like airports, and sophisticated world-class cities such as London, England or smaller progressive municipalities like City of Berkeley. A diverse market group that all share similarities like complex operating environments. BANQcare, simply put, is the service platform our BANQ X1 customers engage with on a daily basis.

Loop IQ is intelligence to empower agile supply chain logistics + manufacturing.

With BANQ X1, there’s no more guessing which bin to use. The debut model of BANQ X1 will grind down and distribute all identifiable trash and recyclables into 7 separate buckets:

  • Metal
  • Aluminum
  • Clear Glass
  • Tinted Glass
  • Plastic
  • Compost
  • Landfill

If the waste does not fall within those 7 buckets, it will be diverted to a separate bucket, with notifications automatically sent to the BANQ X1 subscriber for proper disposal or return. Return? Yep, we’ll retrieve those keys, watch or ring you accidentally dropped in there too.

The number one problem with disposal of trash and recyclables is knowing exactly which is which. Human error accounts for the majority of issues, and educational initiatives haven’t proven all that helpful. The second biggest problem is that of volume. Over 90% of the space in your “full” trash can or recycling bin is air. Yes, air! Trash compactors on the garbage trucks help, but not enough. Trash compactors in the trash can also help, but not enough. Through auto-sorting and grinding within BANQ X1:

  • Captures 30-40% more recyclables that otherwise go to landfill
  • Increases the volume it can hold, by an industry-leading 15-1 ratio (no more air)
  • Reduces the overall cost of waste disposal by 45-55%, for businesses and local governments
  • Increases profitability for waste management facilities
  • Reduces trash and recyclables sent to landfill
  • Measurably reduces carbon footprint, and will share that through the App

BANQ X1 also thanks each user with a little added value for making our world a better place. Can your trash can do that?

Absolutely. When hazardous material, weapons or explosive devices are deposited into BANQ X1, notifications will be immediately sent to BANQ X1, the BANQ X1 subscriber and proper authorities for safe disposal. Imagine that, an intelligent trash can with safety features.

BANQ X1 is designed to be plug-and-play with your current space and waste disposal process, only easier and about half the price. The standard BANQ X1 is about the size of a 3-receptacle recycle/trash unit, or 2 large wheelie bins. The footprint should be similar to what is currently in your space. It will require dedicated power to operate, but has (optional) solar power capability. Outdoors or indoors, BANQ x1 units are designed to handle regular use and the elements.

Yes, BANQ X1 will be customizable (as an upgrade) in a number of ways:

  • Data collected and generated
  • Co-branding the shell of BANQ X1
  • Promotional advertising on the App and with the Rewards Card integration
  • Co-branding the Rewards Card
  • Promotional advertising on the BANQ X1 screen
  • Optional solar power
  • Add-on/replacement features/configurations for additional/different buckets (cardboard, paper, coffee cups, batteries, etc)

Perhaps your location has a priority need for cardboard processing, and no need for metal. BANQ X1 can make the adjustment for you.

BANQ X1 units have a lot of moving parts, working together seamlessly to save everyone money. But sometimes, they may need servicing. So how does BANQ X1 keep your waste disposal ecosystem running smoothly? Your subscription includes regular maintenance.

  • Each BANQ X1 UNIT has remote software integration with loop IQ . We remotely run regular internal diagnostic checks, using cameras and sensors within the UNIT. Many issues can be fixed without any interruption
  • A dedicated service team will be provided for your location
  • BANQloop’s manufacturing partner has locations all over the world, and BANQloop produces hundreds of units at a time. You’ll see no time lost waiting for parts
  • BANQloop will house extra units and parts at or near your location, to swap them out immediately, if needed

No, BANQloop is not a traditional waste management company. BANQ X1 is a patented, plug-and-play system that includes the smart, data-gathering trash cans, software and accessories. Trash and recyclables will still need to be picked up and disposed of by your local waste management company. They just won’t need so many stinky garbage trucks, or to come as often to collect.

BANQ X1 doesn’t reduce waste, per se, but rather manages it more efficiently. Even with a reduction of trash and recycling collection service, BANQ X1 enables waste management companies to be more profitable too. How?

  • No more manual sorting through all that trash and recyclables. Manual sorting leaves room for error. Pre-sorting in BANQ X1 means more recyclables are captured, increasing resale opportunities
  • Dumping it all together creates additional contamination, rendering much of the valuable recyclable material only good for landfill. Pre-sorting in BANQ X1 reduces contamination and increases recyclables captured, again increasing resale opportunities
  • Grinding the trash and recyclables into tiny pieces and delivering (biodegradable) wrapped, vacuum-sealed, pallet-ready, pre-sorted and barcoded cubes to process, vs. truckloads of garbage, waste management companies can gradually change from their stinky garbage trucks to fuel-efficient vehicles. Converting to more fuel-efficient vehicles means savings in fuel-cost and unnecessary pollution
  • Reducing the frequency of pick-ups means fleet reduction. Fleet reduction means substantially less overhead
  • Waste management facilities still need workers. Once waste arrives at a waste management facility, material still needs to be processed for shipping to its final destination. Processing just won’t be so messy
  • Creating this new ecosystem will also create a host of new jobs to build, service and deploy BANQ X1 units everywhere. BANQloop will offer paid training to any displaced waste management worker that wants to work with us.

Each block of material that comes out of BANQ X1 is pre-sorted, vacuum-sealed and barcoded for easy delivery. There’s literally no need for a recyclable sorting facility. Recyclable material can easily be paletted and shipped to the nearest end-user, directly from your local waste management facility.

Have you looked at the instructions on trash cans and recycling bins? It’s really hard to know what you can or can’t put into them, how or if you should prepare your waste and which bin is the correct one. BANQ X1 aims to make recycling and trash disposal easy and rewarding for you, the end-user.

  • BANQ X1 makes it simple. No complicated instructions necessary. You just toss in your trash and recyclables and BANQ X1 will do the rest. This will help with language barriers, time constraints and confusing instructions. Now, without having to work for it, you know your items are actually being recycled and disposed of properly
  • BANQ X1 units are smart. They scan and gather data on the contents you toss in. And we’ve created an App and a Rewards Card integration to enhance the experience and give a little something to back the user
    • If there’s a related offer on an item you used from a participating BANQ X1 advertising partner, one will be offered up to you on the App or the Rewards Card
    • If there’s a rebate or refund on an item you used, you’ll be instantly issued a credit/coupon on the App or Rewards Card
  • The BANQ X1 App will be gamified and can track your trash and recycling data. You’ll be issued a Carbon Point Score and offered ways to improve it. You can track your score against others, bank or sell your points on an open market and really see how much you’re doing to help the planet

All this, with no extra effort!

Switching your current trash and recycling system to our BANQloop platform will not only help you achieve your organization’s sustainability goals, but it will save you around 50% from your current spend. Not a bad reward for your efforts, right? Through the App, BANQ X1 will issue you a Carbon Point Score, based on your carbon reduction savings, that you can either bank or sell on an open market. You’ll be able to quantify exactly how you’re achieving your mandate.

Though we at BANQloop have a global vision of replacing all trash cans and recycle bins with BANQ X1 units, currently we are focusing primarily on the following areas:

  • Transportation hubs (airports)
  • Stadiums
  • Amusement parks
  • Large businesses
  • Large apartment complexes
  • Waste management companies
  • Local governments

BANQloop’s business is a b2b model, so not yet sold individually or available directly to consumers. Have a use case similar to the above? Contact us. We’ll see what we can do.