Picture: REUTERSThe Covid-19 pandemic has accelerated the shift to online banking in Europe, but it has also given some suburban branches an unexpected new purpose — as alternative office spaces for staff reluctant to commute to big headquarters in city centres.
But others are changing tack. They are looking to take advantage of part of their networks of physical outposts to help adapt their businesses to the new reality. 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.
“Doing less basic transactions allows branch staff to concentrate on other things, such as advice and sales, which are more profitable for the banks,” said Dawson, adding that banks could roll out more automated or video services that allow customers to withdraw large amounts of cash or get a replacement debit card.