Media Coverage
Online Banking Report
October 15, 2007
2008 Planning Guide: Heading into the Branchless Future
Editor Jim Bruene features data from CashEdge’s Consumer Online Banking Survey on consumer preference of online versus branch and projects a 40% decline in branches based on that date in the October issue and 2008 Planning Guide.
“Some day there will be no bank branches, at least not the way we think of them today. But that could be half a century or more down the road. So, does the inevitable demise of the branch matter for your business planning in 2008?
That’s hard to say. But, look at the answers to the question posed by CashEdge last month to a group of online banking customers. Three quarters said they would prefer to do all their banking outside the branch (see p. 9). That’s why we have projected a 40% decline in the number of U.S. bank branches during the next two decades (see OBR 128).”
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