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.

Banks frequently overpay by 15% to 20% or more on average for real estate compared to other retailers for comparable space.

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Perhaps the single most important threat facing the banking industry is the fundamental change in the way consumers and small businesses use branches.

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As branch traffic continues its decline and branch costs march upwards, community bank executives are often tempted to sell or close branches.

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Smartphones are increasingly recognized as a natural conduit for everyday financial transactions, such as making payments and scanning checks for deposit.

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The results of our 2015 FMSI Teller Line Study are in and they support widespread perceptions about declining branch transactions and staff productivity and rising labor costs.

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A lot of folks are asking me whether I’m really saying that banks need to start all over again? Is that really feasible, Chris? How can you recommend that we tear down the house and rebuild it? Well, there are a lot of reasons I can say this, and believe it.

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Digital shopping now influences roughly 80% of the origination stream for new consumer checking relationships, yet 90% of new-to-bank checking accounts are still opened in the branch.

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The millennial generation, those people born roughly between 1982 and 2000, is by many accounts the fastest-growing generation ever.

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Bankers and their boards have been thinking about their plans for the branch of the future for several years.

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Almost every bank either operates its own contact, or call, center or commissions a third party to do so.

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