Is The Demise of Branch Banking Inevitable in the Philippines

The decline of branch banking is not something new and industry observers have been touting the end of branches for decades now.

But with the pandemic drastically shifting customer behaviours, regulations enabling digital financial services, a wave of new disruptors — will it be the final nails in the coffin for branch banking?

Research indicates that switching intent is increasing amongst consumers and access to better digital banking services and personal financial management (PFM) is a key driver.

Join our webinar to learn more:

• How banks can form deep and mutually beneficial relationships with customers in a digital world
• Accelerate onboarding enhancements and partner ecosystem without breaking the bank
• Re-engaging branch personnel and multichannel integration

Panelists:

• Paolo Eugenio J. Baltao, SVP and Special Assistant to the President on Digital Bank Initiative, Philippine National Bank
• Randy Montesa, SVP and Head of Card & Electronic Banking Group, Land Bank of the Philippines
• Rachel Freeman, Chief Growth Officer, Tyme
• Riddhi Dutta, Regional Head for ASEAN & South Asia, Backbase

[francis]

Honestly since the start of 2020, branch banking has started seeing a massive decline since we as millenials and those who belong in GenZ prefers the convenience of online banking and should we ever have concerns we would rather just address it with a phone/email representative without the inconvenience of going to a branch with very limited hours of operations (mostly inconvenient as well if you are a working professional on a daytime basis). So surely little by little Bank's Branches would see a steady decline on its necessity and would soon be going into obsolescence little we would notice.