The Financial Column — Bank Branches vs. Electronic Delivery of Banking Services

2011-01-16

Novantas survey shows all types of banking transactions migrating away from physical branches

Novantas’s recent national consumer survey investigated consumer preferences regarding transactions with their banks. Our findings indicate that bank branches will very soon cease to be the primary transaction hub. Currently, most retail banking distribution staffing and physical infrastructure strategies are aligned towards serving legacy customer segments. This may prove to be a costly dead end at a time when 40% of U.S. branches are unprofitable.

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