The banking industry continues to evolve. Customers want to make transactions remote, anytime and anywhere.
Outlined in JLL’s new report are five changes on the horizon for branch banks:
- The number of branch locations will continue to shrink-and we won’t miss them-as banks optimize market needs.
- Mobile apps and the broader applications of FinTech will streamline personal and business banking, seamlessly changing how customers use branches.
- Banks will shrink branch sizes, saving billions in real estate costs annually, as they refocus to meet changing consumer behavior.
- In the future, not all branches will be created equal, as banks tailor branches to meet customer needs and demographics-from a handful of full-scale operations to much smaller locations for basic transactions.
- Automated branches are coming-as public acceptance gains traction, expect to see greater use of “centralized” tellers to handle basic transactions.
Get your copy of the report and view the interactive map here.