Global banking outlook: 2013-14
Evolving the branch experience
We see the “death of branches” motif as somewhat exaggerated.
Many banks that invested heavily to give themselves global scale and reach and now poised to abandon much of that footprint. As some international banks retreat from rapid growth markets, gaps will increasingly be filled by domestic and regional banks.
We see the “death of branches” motif as somewhat exaggerated. Consumers now prefer a self-service approach for simple transactions, but branches will remain important for advice and complex banking decisions. Branches will evolve from institutional spaces to environments that resemble a hybrid between a coffee shop and a technology store.
And of course, the “branch” experience will also take place on smartphones within mobile banking applications.