banking

4 ways tech will change your bank branch

Banking » 4 Ways Tech Will Change Your Bank Branch

You may feel a bit cramped
You can do your banking later © alessandro0770/Shutterstock.com

As fewer account holders make trips to physical branches, some members of the banking industry are experimenting with new branch models that are a fraction of the size of traditional locations.

"These express banking centers are a way of still having a physical presence for consumers but with smaller real estate overhead costs," McBride says.

In addition to opening smaller branches, Barnhart says that customers can expect to see more limited-service banking locations pop up in supermarkets, subway kiosks and other new locations.

"The one-size-fits-all branch model is going away," Barnhart says. "For a long time, every bank built the same kind of branch everywhere. Now, customer preferences are evolving due to the convenience and accessibility of new technologies, and branches will follow suit.

"Customers don't need a 5,000-square-foot branch every time they go to the bank," Barnhart says.

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
CD & INVESTING NEWSLETTER

Learn the latest trends that will help grow your portfolio, plus tips on investing strategies. Delivered weekly.

Ask Dr. Don

Duped by 1970s bond scam?

Dear Dr. Don, Back in 1976, there was a chain letter scam involving savings bonds. I got caught up in it. You could buy a bond for the person at the top of the list and you were then supposed to receive many more in return.... Read more

advertisement
Partner Center
advertisement

Connect with us