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The UK Financial Conduct Authority published finalised guidance FG20/3 addressing branch and ATM closures or conversions. While not a direct enforcement action, this guidance established supervisory expectations for firms regarding customer access to banking services. The guidance was later updated in 2022. Although primarily aimed at traditional branch-based banking, it has implications for BaaS providers and fintechs that rely on physical banking infrastructure for customer onboarding and cash handling. The guidance reflects broader regulatory concern about financial inclusion as banking increasingly digitises.

Verified from source: The FCA published finalised guidance FG20/3 on branch and ATM closures or conversions on 14 September 2020, following consultation GC20/2 that opened on 16/07/2020 and closed on 30/07/2020.