Remote banking applications that proved their value when bank branches closed during Covid are thriving as financial institutions and customers learned how to use them and enjoyed the convenience.
@johnshirley2024 I’ve been in banking for over 26 years. I only bank remotely. Over 84% of consumers (based on a survey we did with 26,000 people across 8 different countries) use mobile apps for much of their day to day banking. While branches are still used by many, it’s been a long time since they were dominant, it’s now a minority of consumers.
@johnshirley2024 digital banking is only 15 years at the most. The issue is that the vast majority of people don’t ever meet with the people that actually manage their money. Those people aren’t sitting at a branch. They are nameless back office people. The kind I’ve managed. It’s been 50+ years since this has been the truth.
@johnshirley2024 I’m not disputing the importance of social connections. What I’m disputing is the need to have a person you pretend is available to you who manages your money. That’s not a thing.