Fifth Third pays the price as customers exit the branch

It is interesting to read this story along with the other one on Atom bank making a deal with a mainstreet lender to establish a physical presence. Both are examples of extreme strategies meeting the ground reality of multi-channel delivery needs. Many of the bank functions, such as self service A2A transfer, are much better served digitally, while others such as financial advice, getting a deep understanding of the target customer, or dealing with physical instruments is much more effective physically. The banks that master the balance will be the success stories of the future.

I agree that banks that master the balance of "face-to-face" and digital will be the success stories of the future. However, the balance is much more to digital than physical (as in branches). Why?  Because, face-to-face can also mean meeting at the clients home.

That's likely right. Imagine a banker coming to my place of business, and poring over the financials, and evaluating business health to suggest financial products, and provide financial advice! That would be awesome, but there are certain services that do require a physical store presence - safe deposit boxes, cash handling (beyond ATMs).

I agree Dinesh. But, for the future, smaller, high tech, consultative sales "stores" as branches, and not the big transaction processing branches of yesterday. Yes, one will still be able to make a deposit, and get cash, and access a safe deposit box, at the bank store / branch of the future. But, the mix of tellers (the transaction processors) in a branch to sales personnel will change in favor of sales.

You're correct. At least in the branches I visit, it's already happening. There's always a line for the tellers even though there are plenty of bankers in the branch sitting at their desks who are busy "selling", and a 'helpful' manager guiding people in the line to ATMs instead.