Under proposals set out by the Boston Consulting Group, the traditional bank branch and bank manager could become obsolete.
The report by BCG suggests that banks need to provide a greater variety of formats, including transaction-only branches. Bank managers also need not be tied to one branch.
According to the report ‘the goal is to have the right people in the right place at the right time.’ With variation in in operational hours and staffing as well as a shift in staff training, the recommendations are all part of a package that could improve return rates on shareholders’ equity.
Read more results of the report on the Telegraph.