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Preparing For a World Where Branches Matter Less

Rob Rubin, Novantas Managing Director, writes a weekly column for The Financial Brand

Mobile banking is forcing financial institutions to rethink everything about their branch networks. But your ability to effectively compete hinges entirely on whether consumers think they’ll have to sacrifice convenience along with branches.

Today, about 70% of consumers shopping for deposit products do some or all of their research online. Despite their affinity towards online research, most of these online shoppers will end up opening their accounts at branches. Why? Most believe it’ll be more convenient. Not surprisingly, these shoppers usually choose a bank or credit union with a branch near where they work or live.

Read the full article at The Financial Brand…

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