We’re all aware of the steady drip-drip-drip of bank branch closings as mobile banking becomes more and more pervasive and accepted into the consumer mainstream.
Meredith Deen of Financial Management Solutions, Inc. (FMSI) thinks there is still life in the traditional bank branch:
Consider this one essential nugget of information to support the idea that branches are here to stay, despite the effects of technology. In the past five years, average branch teller transactions for banks have declined only 1.9%, according to our Teller Line Study. For credit unions, the decline was 12.2%. This makes a good case to continue improving teller and self service systems at the branch.
Read more about how the Personalized experience upscale, Self-directed technology, and Traditional models will be significant in keeping branches viable, HERE.