Branches Still Disappearing Despite Recent News

U.S banks closed more than 1700 branches in the year dated June 2016 to June 2017, one of the largest drops on record; more than half of U.S. customers still prefer opening an account at a a branch, when compared to the UK market which shows more than half of customers would rather open accounts digitally; leading vendors like NCR and Diebold have seen revenues drop with the branch products pointing to a decline in the importance of the branch; while branches are still looked at as important to U.S. banks bottom line the trend still points to less branches and more digital in the coming years. Source.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.