One-in-two bank visits involve no human interaction - Halifax

One-in-two bank visits involve no human interaction - Halifax

One in every two visits to a bank branch now involves self-service transactions rather than human interaction, according to data from the UK's Halifax.

Halifax logged 69 million interactions with customers in June - a rise of 47% on the same month of 2014 - as consumers increasingly turned to their smartphones to deal with their financial affairs. More than half (57.2%) of the recorded transactions came through a mobile app, with mobile log-ins accounting for 66% of Internet banking interactions.

While nearly half of Halifax customers use a combination of online, mobile, telephone and branch banking to service their accounts, only 10.3% of interactions in June were captured during branch visits, and more than half of these were conducted through self-service machines.

The figures point to a new role for the branch as an (expensive) extension of a bank's digital footprint, only rarely catering for more qualitative financial advice from a human advisor.

Nonetheless, Nick Williams, digital director, Halifax, maintains that branches continue to play an important role in people’s lives.

“The future of banking means continuing to deliver great service across all channels, enabling our customers to bank where they want, how they want and when they want," he says. "A growing number of customers want the best of both worlds - the convenience of banking on the move, alongside a helping hand from their local branch when they need it. We are committed to giving our customers extra by providing services that meet their banking needs across mobile, online, telephone and branch banking.”

Comments: (2)

Richard Sanders
Richard Sanders - Hermosa Consulting - Southend on Sea 29 July, 2015, 14:14Be the first to give this comment the thumbs up 0 likes

I am surprised more banks are not looking at then drive through banking idea as trialled by Metro Bank. That would be truly banking on the move. Locatio data could tell you when you are near a site offering this and you would know you do not have the drudgery (and cost) of looking for parking nearby to a branch.

A Finextra member
A Finextra member 29 July, 2015, 16:23Be the first to give this comment the thumbs up 0 likes

Just what we want! (NOT!)

THis is driven entirely by greed - replacing bank managers that know what they are doing with autobots that refer absolutely everything to "head office".

So, why not then replace the human autobot with a computer....same result - less pay!

Welcome to 21st century banking folks - in the eponimous words of that comic TV programme - "the computer says no"

HBOS/LBG and others have closed branches, deskilled workers and created the culture where the banks can do this....

All started with Bank of Scotland creating branches that could not accept cash - but had ATMs and tellers - but just accepted cheques....