Andreessen Horowitz Says Bank Branches are Not Necessary

Digital banking is becoming more important than ever during the pandemic and leading VC Andreessen Horowitz believes branches are not needed; “COVID represents an A/B test of branch versus branchless banking,” Alex Rampell, a General Partner at Andreessen Horowitz, said to Business Insider, “and almost nobody is suffering from inability to enter a physical branch.”; consumers believe banks will keep at least some of their branches though 70 percent believe the future of banking is mobile; contactless payments are also expected to speed up rapidly as they are faster and safer than current payment methods; “Paying with Apple Pay and Google Pay is faster and safer,” Rampell said. “Expect that to stick.” Business Insider

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.