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Branch closures

FintechNews RoundupUSA
·Mar. 4, 2019

Small Banks Struggle to Find Their Fit in Digital World

There are 4,600 banks in the U.S. with $1bn or less in assets which accounts for 6.6 percent of all...
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FintechNews RoundupUSA
·Mar. 6, 2018

Branches Still Disappearing Despite Recent News

U.S banks closed more than 1700 branches in the year dated June 2016 to June 2017, one of the largest drops on record; more than half of U.S. customers still prefer opening an account at a a branch, when compared to the UK market which shows more than half of customers would rather open accounts digitally; leading vendors like NCR and Diebold have seen revenues drop with the branch products pointing to a decline in the importance of the branch; while branches are still looked at as important to U.S. banks bottom line the trend still points to less branches and more digital in the coming years. Source.

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FintechNews RoundupUSA
·Feb. 13, 2019

Customer Retention During Branch Closures

American Banker profiles OceanFirst Financial which has closed 33 branches but still managed to retain 94% of their customers in...
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FintechNews RoundupUSA
·Jan. 25, 2018

More than 2,000 Bank Branches Close Across US Last Year

US banks closed more than 2,000 bank branches in 2017, an 18 percent increase form the year earlier; Wells Fargo is one of the leading banks as they closed 194 branches and plan to close more than 800 more by 2020; other banks like Citizens Financial is reducing square footage at branches but not closing as many; Banking Technology lists the top 10 banks by branch closures. Source.

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