Cash industry should tweak models in new environment, says BoE’s Cleland
Chief cashier says players should be prepared to “flex” their models
The Bank of England’s chief cashier has called on the industry to keep cash relevant in an age where technological innovation has revolutionised payment infrastructure.
Speaking at the ATM and Cash Innovation Conference on June 13, Victoria Cleland said the cash industry should not become “complacent” in the face of competition.
“Reliance on cash is less significant than in the past but it is still crucial to everyday life and I encourage the cash industry to continue to innovate, to evolve
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