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Fewer banks and branches, but more wearables? Convenience and mobile tech are driving this industry’s evolution.
Consumers’ views of banking are changing fast, with fewer people seeing the value of visiting a bank branch. In its 2015 North America Consumer Digital Banking Survey, which included more than 4,000 adults in the U.S. and Canada, consulting and technology management firm Accenture found that 81 percent of consumers said they would not switch banks if their local branch closed. Only two years ago, that number was 48 percent.
In addition, 38 percent said good online banking services were the top reason for staying with a bank. That came in ahead of locations and low fees, both being named as the top reason 28 percent of the time.
But, while banks are making plans to shut down branches in droves, are they making the necessary investments in developing their non-branch channels: ATMs, online experience, mobile apps and call center capabilities? That’s the clear imperative as banks’ work to reduce costs. It will also determine how loyal their customers will be.
Click the link below for read more about the future of banking.
The Future of Banking – US News
