The Future of Personal Banking (Hint: It's Not in Person)


by Kathleen Reynolds on Jul 15, 2014 | Views: 27 | Score: 0
% of Millennials
Online Banking88
ATMs72
In Branch Banking (not ATM)53
Mobile Banking47
Telephone Banking17
Sources: brookings.edu
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Kathleen Reynolds
Kathleen Reynolds on Jul 15, 2014 10:02 PM said:

The future is not bright for the traditional “physical” banking system. A resounding 88% of Millennials do their banking online, while only 53% of Millennials use non-ATM In Branch Banking. ATM Banking is used by 72% of Millennials. As Millennials’ presence grows in the economy, it is becoming evident that banking convenience and not brand name reigns supreme.