Many banks plan to add to their branch networks over the next few years even though all the evidence suggests that foot traffic is declining and that most banking transactions are now conducted online.
More than six in 10 banks say they expect to have more branches in five years than they do now, while less than 20% say they will have fewer, according to a new report from the consulting firm Celent. That's despite the fact that branch traffic has been declining by 5% a year and accelerating to the point that between 30% and 60% of all branch traffic could disappear within five years, according to banks surveyed by Celent.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access