70% Americans visited a branch
in 2020
A recent study conducted by fintech banking platform, Oxygen, found that despite the many restrictions imposed by the pandemic, almost seven in ten Americans (69%) overall had visited a bank branch in the past 12 months. Of that…
63% were under the age of 55.
Joe Sullivan, CEO of Market Insights, but he believes there are two reasons why consumers in all markets will keep in-person banking alive for the foreseeable future: personal interaction, and needs that are too complex for digital banking channels.
“Going to the branch will be for problem solving that digital can’t do, and for advising new members or for handling more complex types of loans,” maintains Steven Page, VP of IT, Marketing and Digital Banking at SafeAmerica Credit Union.
Empathy is the most crucial skill in-branch staff needs. “The human connection that consumers crave is less about the technical proficiency,” he says. “Consumers want to know that you know them, hear them, understand them and will do all you can to help them.”
It is imperative, now more than ever, that your financial institution is meaningfully engaging with customers of all age groups, in-person and online, and accurately fulfilling their needs.
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