But maintaining more traditional services that ensure no demographic is left behind is also vital for banks, an expert warns
More than 6,000 bank branches have closed in the UK in the past nine years Only one in four Brits care if there is a bank branch nearby, according to research that shows people in the UK place less importance on proximity to their bank when choosing a provider.
By contrast, more than a third of Americans and 35 per cent of Europeans say having a branch near them is key to the bank they choose.closed in the UKThis month, Lloyds, Halifax and Bank of Scotland, which are all part of the Lloyds Banking Group, announced they will shut nearly 300 of their bank branches in 2024 and 2025.
“We know that the UK is a leader when it comes to financial services and financial technology. This, coupled with the ongoing closures of branches, has fuelled the embrace of digital banking.”have been criticised for posing huge risks to older and vulnerable customers.
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