The bank branch of the future is coming, with coffee bars, cozy nooks … and no teller windows
CHICAGO - The branch bank of the future is coming, and your friendly neighborhood teller may be history.
With transactions migrating online, customer traffic down and once-bustling branches closing their doors, major banks including Fifth Third, Chase and Capital One are racing to create cozier, millennial-friendly spaces offering financial advice, technical support and in some cases, cappuccino.
Say goodbye to pens on chains and even teller windows, as banks shrink their retail footprint and shift their focus away from once-essential functions such as cashing checks and taking deposits.
"The teller line will disappear over the next few years and all transactions will become self-serve," said Kevin Steele, a senior retail banking consultant with Kronos, a leading workforce management company.
The financial technology revolution
