The Future of the Branch: They still play a vital role in your CX

If you spend time reading trade publications like I do, you’ll see a lot of articles declaring the death of things … direct mail, community banking, debit rewards, and even checks (how dare they!) One that I see quite frequently though is the death of the bank branch. I think this declaration is a little premature though and I’ll share more about this later in the blog.

Our latest webinar cuts through the headlines for a data-driven look into branch dynamics. Glen Sarvady, a retail banking and payments expert, finds that much like the coverage of paper checks and direct mail, these tales of demise are rather overstated. While branches are in the midst of a much needed transformation, their role as a key component of consumer and small business strategy remains secure for the foreseeable future.

What is the current condition of the branch?

If you follow the headlines, you already know that the number of bank branches in the U.S. has fallen to its lowest level since 2005. In fact, one real estate analyst predicts that 20 percent of branches will vanish over the next five years. Let’s take a moment to break down these points:

 

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