Say GOOD-BYE to CASH, Over 8,000 bank branches are expected to close worldwide in 2025. Approximately 3,200 of those closures will take place in the United States. Q1 experienced 148 net branch closures in the US, with all major banks slated to close branches throughout the year. Bankrate conducted a survey that found 77% of Americans prefer online digital banking, yet other surveys believe the figure is closer to 89%. Digital banking has been rising in popularity in recent years, up from 203 million domestic users in 2022 to the 216.8 million projected users in 2025.
https://www.armstrongeconomics.com/markets-by-sector/technology/bank-branches-are-the-latest-creative-destruction-casualty/
https://www.armstrongeconomics.com/markets-by-sector/technology/bank-branches-are-the-latest-creative-destruction-casualty/
Say GOOD-BYE to CASH, Over 8,000 bank branches are expected to close worldwide in 2025. Approximately 3,200 of those closures will take place in the United States. Q1 experienced 148 net branch closures in the US, with all major banks slated to close branches throughout the year. Bankrate conducted a survey that found 77% of Americans prefer online digital banking, yet other surveys believe the figure is closer to 89%. Digital banking has been rising in popularity in recent years, up from 203 million domestic users in 2022 to the 216.8 million projected users in 2025.
https://www.armstrongeconomics.com/markets-by-sector/technology/bank-branches-are-the-latest-creative-destruction-casualty/
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