Future of banking: Physical, digital, or both?

Recent events (global pandemic, anyone?) have been shining a spotlight on digital banking solutions in a major way. Financial institutions of all shapes and sizes have been scrambling to find new, innovative ways meet customer and member needs in the context of social distancing.

This begs the question – as things get back to normal, will digital replace the physical branch all together? We think not, and here’s why.

When it comes right down to it, people are, well, people. We are always going to crave that human-to-human interaction, especially now. Celent and Accenture research agrees that while consumers love digital for routine banking transactions, when it comes to key financial moments, individuals of all ages and demographics prefer in-person interactions with a brand they trust. That’s saying something.

continue reading »