29 June 2017
visit http://events.sap.com/gb/fsi-forum-2017/en/home

US branch transaction volumes see eye-popping decline

24 May 2013  |  8021 views  |  0 Bank Branch Desk with Customer 2

Branch transaction volumes in the US have dropped by 45% over the past decade, according to data released by teller management outfit Financial Management Solutions Inc (FMSI).

The FMSI Teller Line Study is based on a compilation of teller activity volumes pulled monthly from HR systems and community bank and credit union core systems.

Using the month of March as an annual comparative benchmark, this year's study indicates that branch transaction volumes are continuing a year-over-year decline.

"We are in a unique position in that we have access to more than 17 million monthly transactions from many different financial institutions," says W. Michael Scott, president/CEO of FMSI. "The detailed study reveals a declining branch transaction trend, of which senior management at financial institutions should take note. With transactions dropping and staffing levels remaining the same, the inevitable outcome is costly overstaffing in the branch environment."

The downward trend in branch activity levels is accelerating as more consumers turn to digital channels to conduct their daily banking transactions, fuelling the debate over the value of branch networks in a 21st century banking model.

Analyst house Celent says that the banking industry will soon respond to the obvious migration of customers to new digital alternatives and is forecasting a dramatic 30-40% reduction in the number of operating branches in the US over the next decade.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

US branch networks set for steep decline - Celent

US branch networks set for steep decline - Celent

17 May 2013  |  7561 views  |  1 comments | 16 tweets | 8 linkedin
AIB opens branch to showcase digital services

AIB opens branch to showcase digital services

16 April 2013  |  11561 views  |  0 comments | 14 tweets | 7 linkedin
Wells Fargo plans mini-branches

Wells Fargo plans mini-branches

12 April 2013  |  8875 views  |  0 comments | 8 tweets | 5 linkedin
BNP Paribas preps digital bank - Les Echos

BNP Paribas preps digital bank - Les Echos

10 April 2013  |  9159 views  |  0 comments | 18 tweets | 8 linkedin
BofA rolls out video teller ATMs

BofA rolls out video teller ATMs

04 April 2013  |  8140 views  |  0 comments | 10 tweets | 6 linkedin
Digital to overtake branch for transactions by May - NAB

Digital to overtake branch for transactions by May - NAB

28 February 2013  |  9475 views  |  0 comments | 14 tweets | 8 linkedin
Swedbank to split off digital bank from branch network

Swedbank to split off digital bank from branch network

28 November 2012  |  6492 views  |  0 comments | 12 tweets | 2 linkedin
Bank branch reform key to retail banking recovery - A T Kearney

Bank branch reform key to retail banking recovery - A T Kearney

09 October 2012  |  6925 views  |  0 comments | 1 tweets
Internet overtakes branch as channel of choice for Australians

Internet overtakes branch as channel of choice for Australians

08 October 2012  |  8437 views  |  3 comments | 1 tweets
Bank branches set to disappear as more customers go online

Bank branches set to disappear as more customers go online

21 September 2012  |  10210 views  |  0 comments | 3 tweets
Young Brits still visit bank branches - they're usually closed though

Young Brits still visit bank branches - they're usually closed though

01 August 2012  |  7747 views  |  8 comments

Related blogs

Create a blog about this story (membership required)
download the report nowvisit www.www.fisglobal.comvisit www.finastra.com

Top topics

Most viewed Most shared
ECB preps eurozone-wide instant payments serviceECB preps eurozone-wide instant payments s...
9369 views comments | 19 tweets | 38 linkedin
ABN Amro tests wearable tech for contactless paymentsABN Amro tests wearable tech for contactle...
9019 views comments | 10 tweets | 6 linkedin
hands typing furiouslyThe EU and blockchain: taking the lead?
7750 views 0 | 8 tweets | 7 linkedin
Mastercard eyes opportunities to profit from sharing economyMastercard eyes opportunities to profit fr...
7452 views comments | 6 tweets | 6 linkedin
Body blow for PayKey as Apple orders Westpac off its turfBody blow for PayKey as Apple orders Westp...
7072 views comments | 12 tweets | 14 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job