UK The Role of the Branch in Retail Banking Market Report 2020
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Providing the most comprehensive and up-to-date information and analysis of the The Role of the Branch in Retail Banking – UK market including the behaviours, preferences and habits of the consumer.
What are the key challenges facing the industry? Who is the consumer and what do they want? Where are the opportunities, where are the risks and what lies ahead?
48% of people who use bank branches are using them less as a result of the pandemic, and 40% expect to continue using them less even after the pandemic has passed. COVID-19 has accelerated a long-term decline in branch banking as it has led many previously reluctant consumers to adopt digital channels and contactless payments to reduce the risk of spreading the virus, hastening the demise of the transactional bank branch. As a result, the trend towards branch closures is likely to continue apace over the next few years.
Written by Thomas Slide, a leading analyst in the Financial Services sector, his extensive knowledge delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.
COVID-19 has driven a rapid acceleration in the adoption of digital banking and cashless payment methods, further reducing the need for bank branches. However, despite their steadily declining use, consumers continue to regard bank branches as important for the local community and as an important safety net in case of emergencies or for making major financial decisions.
Thomas Slide
Senior Financial Services Analyst
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Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted. Our reports are available to download in PDF and PPT formats.