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Branch Boom Gone Bust: Forecast Calls For Steep Decline

Monday, May 13, 2013 - 3:49 PM
After a 40-year boom in branch building, the U.S. will witness a dramatic reduction in the number of operating branches.

US banks and credit unions have been fond of growing business through branch-building. But in the report “Branch Boom Gone Bust,” Bob Meara and Stephen Greer, a pair of analysts at Celent, predict a steep decline in U.S. branch density. The authors argue that the retail banking industry has yet to respond to “the obvious migration of customers to new digital alternatives.”

http://thefinancialbrand.com/29811/celent-predicts-decline-in-size-of-branch-networks/


 
5
ShorebreakShorebreak2,602 posts since
Apr 6, 2010
Rep Points: 14,087
1. Saturday, May 18, 2013 - 10:15 AM
... not just fewer branches but possibly smaller ones also.

From The Financial Brand:
BMO in Canada is the latest to test ...the “nanobranch strategy.” BMO’s so-called “studio branch” is a compact 900± square feet, sitting on the ground floor of the ZUNI condo complex in Montreal. The concept features an open layout, consultative meeting spaces, a private conference room and free WiFi.

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3
pearlbrownpearlbrown1,431 posts since
Nov 2, 2010
Rep Points: 6,247
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