Financial transactions through branch offices continue to decline. A survey by PricewaterhouseCoopers (PwC) shows that in 2015, 75 percent of respondents stated that more than half of their banking transactions were conducted through branch offices. However, in 2017, this figure dropped to 45 percent.
Meanwhile, a sharp increase occurred in digital-based financial transactions. 10 percent of respondents stated that financial transactions via telephone and internet comprised more than half of their total banking transactions. However, this figure currently stands at 20 percent. Meanwhile, 48 respondents use digital transactions for a quarter of their total transactions.
This shift in customer preference regarding financial services has been predicted by global bankers. PwC also reported that 59 percent of global bankers anticipate customers migrating from branch office transactions to digital channels.
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