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More than 70 percent of financial institutions consider their branch networks to be mission-critical or very important to long-term growth, according to new research. Only a small minority of institutions are planning to reduce their branch networks.
Jim Marous, publisher at The Financial Brand, highlighted that despite longstanding industry predictions about branch closures, most organizations continue to see value in maintaining their physical presence.
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In previous coverage, Jim Marous reported that banks have shifted digital banking platforms from support roles to central components for customer transactions, reflecting significant changes in channel strategy over recent years. He also noted that only 9% of financial marketers are very confident in their marketing ROI, while 43% do not measure customer lifetime value. Full details are available in Financial institutions expanded digital banking roles and Jim Marous: Few financial marketers confident in their marketing ROI or customer lifetime value.