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There is an article in the newspaper quoting Peter Hanlon expressing the view that branch closures may have been a tactical error which reduced the quality of service and damaged the customer relationship.
http://www.dailytelegraph.com.au/money/westpac-group-executive-peter-hanlon
I have mentioned the lost resource that the local branch represents, risk, knowledge and relationships.
With internet banking looking decidedly unsafe (if you are 'protected' by a 'smart' card) - branches may be required.
What other alternative is there? Mobile?
Also: Draft Laws introduced into Australia's Senate to prohibit the transfer by FI's of personal financial data offshore. Goodbye foreign processing and call centers. This one will catch on.
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Nkahiseng Ralepeli VP of Product: Digital Assets at Absa Bank, CIB.
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Nicholas Holt Head of Solutions and Delivery, Europe at Marqeta
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Ivan Nevzorov Head of Fintech Department at SBSB FinTech Lawyers
Kate Leaman Chief Analyst at AvaTrade
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