It’s not a surprise but in a recent American Bankers Assocation survey report it shows that the online channel is now the #1 place for customers when it comes to conducting their banking tasks. The survey spoke to 1,000 consumers over the phone ages 18-55+ and 25% said they prefered going online then to any other channel. Branches came in at #2 with 21% saying they go here to conduct activities (This includes all age groups). If you segment out the 18-35 age group the online channel is a whopping 38%!
The moblie channel appears to have gone backwards. This raises a few eyebrows considering the massive amount of new moblie phone users and the number of new banking applications that have been developed over the past year.
But no matter how you slice it, more and more people are moving away from what was and still is the heart and soul of the community bank – the branch.
In recent posts we’ve discussed the need for banks to look at this new migration as an opportunity for developing deeper relationships. If done right, the web and mobile phone channels can be a catalyst to pulling your customers back to your branches for one on one meetings with professionals.