Lloyds , the UK’s biggest domestic bank, said it would launch “experiments” to test “how, where and when” its more than 60,000 employees could work from October.
The decline is likely to continue, as the overriding trend in banking is customers increasingly moving online - and this has only quickened during the pandemic.“I think COVID-19 presents a new lease of life for branches specifically,” said John Cronin, banking analyst at Goodbody, who said he knew of several British banks considering allowing office staff to work from branches.
“Doing less basic transactions allows branch staff to concentrate on other things like advice and sales which are more profitable for the banks,” said Dawson, adding banks could roll out more automated or video services that allow customers to withdraw large amounts of cash or get a replacement debit card.
Oldenburgische Landesbank in northern German has accelerated plans to bundle customer support services into larger locations, while transforming smaller branches into self-service facilities or closing them.
Why live in a expensive country If everyone in banking can work from home 🤔