Without branches, banks and credit unions say they can’t survive

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading » Branches aren’t just important to banks and credit unions. They’re viewed as essential to institutional existence by a significant majority in the industry.Seven out of ten bank and credit union executives consider branches to be so important that their institution’s very survival depends on them. Considering the rapid migration of everyday banking transactions to digital channels and the corresponding sharp falloff in branch traffic, that is a startling conclusion. Why do so many retail banking executives feel this way? Are they clinging desperately to tradition or do sound reasons support their belief in the much-debated branch?Many of the statistics from “The World Branch Report 2019” address those questions. The 62-page report, a collaboration between Thynk Digital and The Financial Brand, is based on surveys of nearly 500 executives from banks and credit unions worldwide and about 9,400 consumer users of financial institutions worldwide.last_img