Branches remain relevant at banks in the digital era
Despite the rise in digital banking customers are still visiting branches, research has found
Digital banking has been threatening the format of traditional banking as we know it for years, with some pundits having predicted the death of branch banking as far back as 2005.
Globally, the likes of Bank of America, Chase and Wells Fargo have reduced their number of branches by about 15% over the past four years, dropping their branch footprint to levels last seen in the 1980s. Locally, despite Capitec’s arrival on the scene with more than 70% of its transactions done through self-service channels, actually three out of the top five banks have been growing their branch footprints over the past few years...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.