Michael Hafer
Jun 3, 2021

Banks and credit unions must manage ATMs as mission-critical devices and consider an interactive teller machine (ITM) to soften the blow of branch closures.

Through this scenario, consider the impact technology is having on how consumers navigate something as routine as their daily lunch hour: Before an executive even leaves her office, she preorders and pays for her favorite meal at a nearby quick-service restaurant via her mobile device—and bypasses the line to pick up her already prepared food.

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The recent article in Banking Strategies Online, “Three things you must consider when closing branches,” (Oct.

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Just what will bank branches look like 10 years down the line? They’ll look smaller, for starters – and feature self-service machines to work transactions that free up staff.

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There is no doubt that bank customers of all ages and incomes are moving to digital channels to conduct financial transactions.

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It seems like every week you hear about another bank’s plans to close some large number of branches.

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It has been a common banking practice across the U.

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I’ve read many articles about the death of bank branches since I started in the industry more than 30 years ago.

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How will retail banking’s changing service model define the branch of the future? With adoption of online and mobile banking on the rise, customers are visiting branches less frequently.

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As consumer digital migration drains ever more branch traffic, banks have been working through a delicate transition with branch staffing.

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Bigger is better may not have been what the politicians and regulators envisioned post-financial crisis but that’s what we now have in the banking industry.

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