Face-to-Face Interactions Keep Bank Branches Open
Most Americans still want to visit a physical branch to do their banking business, according to a new survey from Glory Globe Solutions.
In fact, 61% of American consumers visit their bank once a month, and 73% believe they’ll still need a bank branch 10 years from now.
The survey consisted of over 2,000 consumers in the United States.
Respondents said they enjoy the face-to-face contact when they visit a branch (28%) but many others indicted they are worried about the safety of online transactions. 56% of Americans believe face-to-face transactions keep their account information safer than online banking, and 33% believe it is “significantly” safer.
While consumers still see the importance in their branches, they do want to see changes. 46% of Americans want to see banks stay open for longer, more than a third (35%) want shorter lines, and 30% want more personalized services.
In addition to these changes, banks can still remain relevant by performing services that people do not want to complete online. 70% of Americans would rather go to a bank for complicated services, such as applying for a loan or mortgage, or opening or closing an account.
Joe Gnorski, Vice President of Marketing and Sales Operations at Glory Globe Solutions, said that banks can capitalize on this consumer desire by “getting financial experts out from behind the teller window and onto the bank floor to interact more closely with customers and offer the complex services they demand–on their terms.”