The head of the group which represents Britain’s biggest banks has called time on the traditional high street branch in the wake of the continued rise of online banking.
In a landmark series of comments, Anthony Browne, chief executive of the British Bankers Association (BBA), has admitted that “branch numbers will continue to fall” and that those who call for a return to branch banking are “out of kilter with what millions of customers want”.
Writing in The Sunday Telegraph, Mr Browne discloses that new research conducted by the BBA shows that three out of four Britons use either mobile or internet banking each month.
Pointing to the image of Dad’s Army’s Capt Mainwaring as the traditional bank manager some wish would re-emerge, Mr Brown says that the “supposed golden age of banking” is a myth. “The way we bank now is far easier and faster,” he adds.
However, Mr Browne stopped short of saying that branches will disappear altogether, highlighting their use for mortgage discussions or resolving complaints.