Banks go digital, reduce physical branches opening hours, report

DBM represents an accelerator assisting banking institutions with change responsivity. DBM is a global digital banking study which covers an assessment of retail banks’ digital channels and also involves future developments discussions. In the latest report released by Deloitte, DBM analyses digital or online retail banking in 3 channels: assessment of digital functionalities, customer needs research and UX evaluation.

According to the aforementioned report: Over half (60%) of banks have closed or shortened opening hours of branches, many preferring to implement new digital features, such as fully digital processes - account opening (34%), remote identification and verification (23%), and contactless payments (18%), according to crowdfundinsider.com.