The UK’s major banks are facing a difficult balancing act as new digital payment providers threaten their market share, while regulators demand the preservation of cash payments. Mark Brant, the Chief Payments Officer of NatWest, outlined the challenges in an interview with The Fintech Magazine. He noted that while cash usage is declining, it remains important for small businesses and certain segments of society. Brant stated that NatWest is investing in maintaining access to cash and participating in programmes to ensure its availability. He also discussed the shift towards digital payments and the adoption of new standards in the industry. Brant emphasised the importance of collaboration and standardisation in facilitating innovation and better serving customers.