As the shift to digital banking continues, physical bank branches are losing their raison d’etre and closing in many locations. More than 3,000 bank locations have closed in the United States over the past year, with more closures expected in 2023.
More than ever, it’s important for banks to adapt to the changing landscape and leverage technology to keep pace with what consumers expect. According to Lumen, a multinational technology company, banks can learn a lot from retailers, including Apple, and shift their focus to meet consumers where they are and how they want their banks to be.
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