Has the Growth of Online Banking Reduced Branch Usage?
Submitted by Louie Lambrou on Tuesday, May 8, 20124 Comments
Raddon Chart of the Day May 8, 2012
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Financial institutions receive national consumer research through RFG’s Strategic Planning Study Group (SPSG), a marketing research program consisting of semi-annual consumer surveys on current industry topics derived from RFG’s research process.
Based upon 1,155 survey responses of a randomly drawn sample of members of a nationally representative direct mail panel, the consumer responses used in this study were weighted to reflect the nation’s demographic composition. The study’s confidence interval for any proportion gathered in the survey is in a range of 1.7% to 2.9% at the 95% level of confidence.
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if the Branch traffic in the above graph includes ATM usage, then the data is quite misleading. Can you re-publish without ATM usage?
Serge, I checked with our research analyst and he assured me that the chart above does not consider branch ATMs into the calculation of branch usage.
Louie,
Thanks for the response. Can you offer insights for steady branch use found in your survey, especialy in light of other findings that report that in-branch transactions are down significantly, and that branches are virtually ghost-town during many hours of the day?
[...] the cows come home – I personally see room for both, and statistics show that branch use has not declined despite an increase in mobile – but the fact remains: if your customers are visiting your branches, they expect to be [...]
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