With the enhanced convenience and availability of products and services such as remote capture, online bill-pay and other non-branch-centred transaction capabilities, is it still important to continue using branch proximity as a key factor in their choice of bank?
Mobile- and cloud-technologies have impacted hundreds of banks, large and small. Among other things, these innovations have transformed how banks (need to) handle money and underwrite loans, gauge real-time demand, engage with current and prospective customers and deliver goods and services.
Do Bank Branch location still matter?
Location still matters: Continuing surveys in financial services consumer research show the stubborn consumer preference for choosing banks because a branch is across the street from where they live or work.
Branches will maintain a prevalent role in acquiring, retaining and serving customers across digital and physical channels.
The importance of bank branches plays a role in choosing a financial services provider.
Below sample analytics: Achieved customer value compared to distance between customer branch and home of one of India’s top-5 Private Sector Banks
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