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Banking Briefing: All about branches

  • In a world of Web2s, Web3s, and Web-what-have-yous, a bank’s physical presence can almost feel passé.
  • But despite their decline in numbers, branches still very much play a role in banks’ success – from improving accessibility to getting in front of more consumers’ eyes.
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Banking Briefing: All about branches

Six months ago, the Financial Times published an article with the quote, ‘I’m old, not an idiot’ in the title. 

The quote comes from the name of a petition launched by Carlos San Juan, a Spanish man in his late 70s. The petition urged banks to stop closing down branches.

Last year, bank branch shuttering increased by 38% compared to the year before, according to research by S&P Global Market Intelligence. The rise seems to be correlated with the usual – Covid making people more mobile-first in their banking habits, and banks marching forth with their digital transformation plans.

Still, lots of people are raising eyebrows at these changes, including San Juan.

Branches play a major role in accessibility – for example, for people in their seventies and eighties. 


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