United States | Banking Outlook | 2017
Branch banks: Navigating a sea of industry change
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Five changes on the horizon for branch banks
1 The number of branch locations will continue to shrink – and we won’t miss them – as banks optimize market needs.
2 Mobile apps and the broader applications of FinTech will streamline personal and business banking, seamlessly changing how customers use branches.
3 Banks will shrink branch sizes, saving billions in real estate costs annually, as they refocus to meet changing consumer behavior.
4 In the future, not all branches will be created equal as banks tailor branches to meet customer needs and demographics – from a handful of full-scale operations to much smaller locations for basic transactions.
5 Automated branches are coming – as public acceptance gains traction, expect to see greater use of “centralized” tellers to handle basic transactions.