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Digitally Savvy Customers are Ready for Thin Branch Networks — but are Canadian Banks?

Progress in repositioning networks will be slowed if the most digitally-receptive customers are lost along the way, underscoring the need for channel segment strategy.

The Big 5 Canadian banks have had a dazzling run in retail branch banking, operating profitable fortress networks over a period of years. But the foundation is trembling as profit headwinds prevail and consumers delve deeper into digital banking. In three short years, the overall industry concentration of Branch Traditionalists — people who tightly focus both their daily banking activities and loyalty on the branch — has tumbled to 12% from 23%, according to Novantas ...

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