Alex hits on all cylinders with this post!

Alex R Jimenez

Fifth_Avenue_Bank,_New_York_1900 Teller Line, Fifth Avenue Bank, NY 1900 (Wikimedia)

As digital banking continues to grow with banking customers, customer traffic in bank branches has drastically reduced.  In fact, 94% of consumers under 35-years-old bank online, according to First Data’s report, The Unbanked Generation.  The problem has grown so overwhelming that it has become the biggest concern branch banking is facing.

So far the approach that many banks have taken is reactive without being grounded in analysis. The resulting panic has driven many bankers to copy successful retail models, hoping to capture their success. As if to illustrate this point earlier this year, at a banking conference, I overheard a discussion between three bankers who were talking about the future of the American bank branch.  We had just listened to a speech by James Gilmore, co-author of “The Experience Economy,” in which he made the point that American…

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