The bank branch comeback

70% Americans visited a branch in 2020

A recent study conducted by fintech banking platform, Oxygen, found that despite the many restrictions imposed by the pandemic, almost seven in ten Americans (69%) overall had visited a bank branch in the past 12 months. Of that…

63% were under the age of 55.

Joe Sullivan, CEO of Market Insights, but he believes there are two reasons why consumers in all markets will keep in-person banking alive for the foreseeable future: personal interaction, and needs that are too complex for digital banking channels.

“Going to the branch will be for problem solving that digital can’t do, and for advising new members or for handling more complex types of loans,” maintains Steven Page, VP of IT, Marketing and Digital Banking at SafeAmerica Credit Union.

 

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