Trends in Retail Banking Channels: Opportunities in a Changing Landscape

July 11, 2017

Retail banking is undergoing a period of rapid change. The adoption and usage of remote channels is growing while that of the traditional branch channel is declining. In fact, between 2012 and 2017, the percentage of customers who are expected to stop using the branch is expected to increase by 6.1%, while that of customers who are expected to use the online channel daily is expected to increase by 6.4%.1 The role of the branch in the retail banking channel mix is changing, and it is now being seen as a channel for dispensing advice and in-branch self-service functionalities to customers.

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First Data is a global leader in commerce-enabling technology and solutions, serving approximately six million business locations and 4,000 financial institutions in 118 countries around the world. The company’s 24,000 owner-associates are dedicated to helping companies, from start-ups to the world’s largest corporations, conduct commerce every day by securing and processing more than 2,500 transactions per second and $1.9 trillion per year.

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