Summary
NatWest, a leading UK bank with over 19 million customers, plans to close at least 53 branches this year, continuing a trend that has seen 1,431 branch closures since 2015. This shift towards a focus on digital banking comes as over 80% of their active account holders utilize digital services, despite concerns about accessibility for vulnerable populations in rural areas. The Financial Conduct Authority emphasizes the need for alternative banking services, such as ATMs or banking hubs at Post Offices, to ensure local communities retain access to financial services amidst the move towards a cashless society.
