COVID has caused spikes in traffic to ATMs and drive-up tellers. Some FIs are actively marketing the options, which may impact retail banking going forward.
Cardless ATMs are among those “banking innovations” that have been long-touted, but so far failed to break though. However, with Bank of America, Chase and Wells Fargo all making strong pushes to adopt this, 2017 could be the year of change.
More and more, we see bank branches becoming a mix of environments: high touch for affluent where personal interaction is protected, and low touch – via technology – for mass market consumers. Banks are also reducing real estate and staffing costs as they move to branch models that encompass a strategic mix of venues. Here’s a quick look at why change is happening... and how that change is apparent right now.