Branches are transforming, but don't expect to see them disappear, according to a recent report in the Worcester Business Journal.
DBSI's CEO, John W. Smith, shared his insights for the article on the changes impacting branches today, including why online and mobile banking won't completely replace branches.
"'Only about 15 percent of the general public is truly tech-savvy,' he said. 'The rest of the population looks at all of that with a little skepticism and fear.'
Still, Smith said, transformation is necessary. Instances of people walking into a branch needing to solve a particular problem are up, he said, so bank employees must have a broader knowledge of how to help people. Among the features he advocates for the self-service kiosks much like the ITMs Berkshire is rolling out in its branches."