New report says bank branches are shrinking as mobile banking takes hold

"Bank customers are turning to online and mobile banking while shunning bank branches, according to a new report. 'U.S. banks continued to shutter more branches than they opened in the third quarter, extending a multiquarter trend, as customers do more routine banking business online and reduce the relevance of traditional branches,' said a report by SNL Financial." Continue Reading

Barclays blames rise of mobile banking for 1700 branch job cuts

"Barclays is set to axe 1700 customer-facing jobs from its branch network over the next year, citing the rise of new customer channels, particularly mobile banking. The bank told staff yesterday that cashiers, personal bankers, operational specialists, branch managers and assistant manager roles will all be cut throughout 2014.

Explaining the move, a bank spokesperson says: 'More and more people are choosing to use smart phones and technology for everyday transactions – using branches only when they need access to expertise. We are responding by investing in the channels that customers are increasingly using, whilst improving customer service.'” Continue Reading