Bricks-and-mortar bank branches are still a "critical component" of the sector, especially to Millennial customers, as a survey by Fiserv revealed they visit their branches on average 4.6 times a month - more than any other age group. Millennials were also the most likely to have applied for a loan, with 53% of the response. The study, which took in more than 3,000 US bank customers, also found 17% preferred mobile or online banking, but 44% said they would rather visit a branch.
Bricks-and-mortar bank branches are still a "critical component" of the sector, especially to Millennial customers, as a survey by Fiserv revealed they visit their branches on average 4.6 times a month - more than any other age group. Millennials were also the most likely to have applied for a loan, with 17% of the response. The study, which took in more than 3,000 US bank customers, also found 53% preferred mobile or online banking, but 44% said they would rather visit a branch.