Bank branch augmentation

Will Augmented and Virtual Reality Replace the Bank Branch?

The traditional bank branch network is in a massive state of transition. Offices are shrinking or closing altogether, with digital tools being introduced to support both transactional and advisory roles. But, while more than 8,000 U.S. bank branches have closed over the past decade, and as many as 90% of transactions taking place online, the number of bank employees has remained relatively stable. According to the FDIC, there were 2,110,276 employees in 2012, and 2,043,480 last year. This stability is about to change. The Bureau of Labor Statistics (BLS) projects that the number of tellers working at American banks will decline by as many as 40,000 through 2024 (from a current workforce of 520,000). ….[READ]

Advertisements