Tuesday, March 6, 2018

Banks Double Down on Branch Cutbacks

I see this continuing for some time, it could all turn around if cyber security of banks get a lot worse. I know of many folks in the above 50 age group that still prefer a brick and mortar place to go and do your banking. If I visit an actual bank more than once a month that is a lot. I do use a bank at my Walmart a bit, but once again it is for banking of an older person in our home. It will all depend on how cyber threats evolve, in most cases now, I advise clients, that they are facing the same level of security problem in the brick and mortar bank, since it goes cyber with in seconds.
Banks are closing branches at the fastest pace in decades, as they leave less profitable regions and fewer customers use tellers for routine transactions.

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