How many branches is too many?

With all that banks are dealing with already, we know that the priority is to cut costs wherever and however possible. One of the most obvious and easy areas to start with is the number of branches. Amidst COVID-19, banks are seeing less and less foot traffic. Not only the pandemic, but with ever changing customer preferences, banks are finding that having an abundance of branches may not be so efficient. In this edition of 3 Minute Banker, Dustin Allen, Director of Global Deposit Solutions, explores the idea of branch rationalization and what the market currently looks like with a bank at every corner of every street.

 

Have questions? Send us a message or browse our location service numbers to get in touch.