Report: Bank Branch Transactions To Halve By 2023

By PYMNTS | May 24, 2013

A new study from Financial Management Solutions Inc. (FMSI) predicts that the number of transactions processed at U.S. bank branches will drop by 45 percent over the next decade.

“The detailed study reveals a declining branch transaction trend, of which senior management at financial institutions should take note,” W. Michael Scott, the company’s president and CEO, said in a release. “With transactions dropping and staffing levels remaining the same, the inevitable outcome is costly overstaffing in the branch environment.”

The figures were determined by assessing teller activity volumes from HR systems as well as core systems at community banks and credit unions.

Read the full release from FMSI here.