Swindon Mayor celebrates branch move - as visiting NatWest CEO pledges that face to face banking is here to stay

By Ben Fitzgerald - 23 November 2018

CommunityBusiness

NatWest Bank CEO Les Matheson paid a flying visit to Swindon for the official opening of the new town centre branch of the bank - a relocation from the Commercial Road branch.

The branch, at 24-30 The Parade, was officially declared open by Swindon Mayor Junab Ali who cut the ribbon after being introduced to anyone with earshot thanks to the powerful lungs of Royal Bassett Town Crier Owen Collier who handed Mayor Ali a £1 - a coin of the realm - following ancient tradition.

Mr Matherson conceded that the move was a strategic decision prompted by increased competition from rival banks - with Metro Bank having opened in Swindon Town Centre last year.

He explained: “This year we will move and renovate a number of branches across the UK. The total number of branches across all banks has decreased and the reason for that is partly the growth and development of technology.

"We look really hard at engaging people with mobile technology - it's actually most valuable for people who are vulnerable. With our mobile app, it can actually talk to you and you can talk to it. We also have community bankers who can help and they can go out and visit people in their homes.”

NatWest closed 197 branches across the country last year, including Marlborough, Royal Wootton Bassett and Hungerford - however Mr Matherson stressed that the bank still believes in the value of maintaining a presence in the high street.

“By next January 2019 we will have across the whole of the UK 850 branches so we will have a branch in all of the larger town centres across the whole of the UK.”

He added: “The intent is that as all these digital banks spring up, one of the things we think is very important is to have people who can actually talk to customers and so we are always intending to have branches. We don't have as many as we had 20 years ago but I think the investment that you can see here shows that we still intend to have branches to invest in them and to have people talk to customers.

“Like most towns, the centre moves every now and then and it’s been moving in this direction and we wanted to be much more central where it’s easier for people to get access.

“It’s fair to say that some people don’t trust themselves to do the most important things. That is why face to face banking is so important. And many people find finance difficult. They want to find someone from the local area who they can trust and they can get help from."

Mayor Junab Ali said: “It’s great to hear from Mr Matherson that he is so committed to supporting branches in the high street. It’s great news for Swindon.”

 

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