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Digital Bank by Chris Skinner

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DESIGNING DIGITAL BANKS WITHOUT BRANCHES

It is clear from all sources of statistics that bank branches are no longer as relevant in the distribution mix as we move towards Digital Banks. For example, the European Central Bank (ECB) produced figures in 2013 that indicate significant branch closures, particularly in countries affected by austerity measures like Spain:4

“Banks have shut about 20,000 branches across Europe in the last four years, including 5,500 last year and 7,200 in 2011. That represents the closure of about 8 per cent of Europe’s branches since the financial crisis, and the cull is expected to continue for many years.”

“The cuts have been most severe in Spain, unravelling years of expansion by regional savings banks, which had ...

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