Draconian reductions in branch networks are not necessary for banks that shift to smaller, more efficient platforms for meeting customer needs.
With branch transaction volumes continuing to decline, banks are exploring their options regarding their branches’ futures. Numerous studies have indicated that customers prefer to have access to branches when they want them, but with that need being much less frequent, what are banks to do? It doesn’t help that some experts say branches must be downsized, while others advocate for closing smaller branches and aggregating business into larger, higher-volume Locations.
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