Reports of the death of the branch have been greatly exaggerated or at the very least, misunderstood.
"We see research showing the consumers still want branches," said John Mathes, director of brand strategy at Weber Marketing Group, a Seattle-based brand strategy firm. "Whether they use them or not, there is something psychological and intangible about having a branch nearby where they can go in, look across the table at someone and get advice in person."
He added, "On some level, consumers think that is where their money is and when selecting their financial provider, having a brick and mortar is a determining factor across all generations – including Millennials."
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