U.S banks closed more than 1700 branches in the year dated June 2016 to June 2017, one of the largest drops on record; more than half of U.S. customers still prefer opening an account at a a branch, when compared to the UK market which shows more than half of customers would rather open accounts digitally; leading vendors like NCR and Diebold have seen revenues drop with the branch products pointing to a decline in the importance of the branch; while branches are still looked at as important to U.S. banks bottom line the trend still points to less branches and more digital in the coming years. Source.
Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.