A fine balance: physical bank branches in the age of the digital consumer

Blog article by Stanislas De Roy (Digital Transformation Conversations blog)
These are not comfortable times in retail banking. A leaner, meaner economic climate has hit branch networks hard – 5,000 bank branches in Spain have shut down since 2008[i]. US banks have a similar story to share with 3,000 branches shutting down between 2009 and 2012. It’s not just the quest to trim costs that has branches shutting down, however. We’re also seeing a sea-change in consumer behavior with more customers gravitating to online banking. In 2010, only 36% of US banking customers preferred banking online. But in 2011, that percentage shot up to a whopping 62%…