Products

Insider Intelligence delivers leading-edge research to clients in a variety of forms, including full-length reports and data visualizations to equip you with actionable takeaways for better business decisions.
Reports
In-depth analysis, benchmarks and shorter spotlights on digital trends.
Learn More
Forecasts
Interactive projections with 10k+ metrics on market trends, & consumer behavior.
Learn More
Charts
Proprietary data and over 3,000 third-party sources about the most important topics.
Learn More
Industry KPIs
Industry benchmarks for the most important KPIs in digital marketing, advertising, retail and ecommerce.
Learn More
Briefings
Client-only email newsletters with analysis and takeaways from the daily news.
Learn More
Analyst Access Program
Exclusive time with the thought leaders who craft our research.
Learn More

About Insider Intelligence

Our goal at Insider Intelligence is to unlock digital opportunities for our clients with the world’s most trusted forecasts, analysis, and benchmarks. Spanning five core coverage areas and dozens of industries, our research on digital transformation is exhaustive.
Our Story
Learn more about our mission and how Insider Intelligence came to be.
Learn More
Methodology
Rigorous proprietary data vetting strips biases and produces superior insights.
Learn More
Our People
Take a look into our corporate culture and view our open roles.
Join the Team
Contact Us
Speak to a member of our team to learn more about Insider Intelligence.
Contact Us
Newsroom
See our latest press releases, news articles or download our press kit.
Learn More
Advertising & Sponsorship Opportunities
Reach an engaged audience of decision-makers.
Learn More
Events
Browse our upcoming and past events, recent podcasts, and other featured resources.
Learn More
Podcasts
Tune in to eMarketer's daily, weekly, and monthly podcasts.
Learn More

A majority of global banking executives don’t see a future for the branch-based model

The data: 65% of worldwide banking executives expect that the branch-based model will be “dead” within the next five years, according to survey data collected by The Economist Intelligence Unit (EIU) on behalf of Temenos. The result, compiled from interviews of 305 senior global banking executives, is 35% higher than four years ago.

The bigger picture: The new data feeds into branch penetration forecasts completed by Insider Intelligence for the UK, the US, and Canada. “Penetration” is defined as bank account holders ages 18+ who visit a bank, credit union, or brokerage branch at least once per year.

  • UK: Branch penetration in the country will decline from 65.3% in 2019 to between 60% and 62% in 2024. Temporary branch closures during the pandemic accelerated a trend of UK banks scaling back their physical footprints to rein in operating costs.
  • US: Physical bank locations will suffer an even steeper drop in the US, falling from 70.1% in 2019 to 62.3% in 2024. According to an estimate offered by Rob Aulebach, a former retail distribution executive at Bank of America Corp., up to 30% of branches that the pandemic shuttered may never reopen.
  • Canada: Branches remain a valuable asset to banks in Canada, but still are expected to drop from 86.5% in 2019 to between 82.6% and 84.5% in 2024. 23% of Canadian consumers say they’ll visit branches less often for transactions when the pandemic ends.

What’s the new strategy? As brick-and-mortar locations decline, 81% of the bankers surveyed by the EIU say that banks will seek to differentiate by customer experience, rather than by products. New technologies like the cloud, artificial intelligence (AI), and APIs are the tools that global banking executives plan to use to deliver superior customer experiences.

One technology they expect to play a prominent role in this shift is AI—81% of respondents think it will be the key differentiator between successful and failing banks. Chat or voice-based assistants that use natural language processing (NLP), and machine learning (ML) offer a more personalized customer experience. When a bank becomes an interface, rather than a place, AI will enable banks to deliver bespoke insights that underpin their budgeting, wealth management, or personal financial management solutions.