Originally posted on NCR Corporation’s Blog.
Guest post written by Brian Bailey, Vice President and General Manager, NCR Corporation.
NCR Corporation is the NAFCU Services Preferred Partner for ATM Products and Services, Teller Cash Recyclers (TCRs).
Technology has killed the bank branch.
You’ve heard this refrain before. Online banking. Intelligent deposit ATMs. Mobile banking. The future of mobile wallets. These technologies that make our lives easier supposedly have made the bank branch irrelevant. A dinosaur from bygone days. The financial services equivalent of the movie rental store or disco. Tower Group estimates that global teller transactions have decreased by 31 percent in the past 10 years, and forecasts an additional 15 percent decline by 2015. Bloggers such as Bank 2.0’s Brett King have declared the branch dead because … hey … you’ve got a mobile phone.
What doesn’t kill you makes you stronger, right?
That’s true when it comes to branch’s love/hate relationship with technology. In fact, technology has not killed the bank branch. Technology is the future of the bank branch.