The bank is not our favorite place to go, it’s more like a requirement of being an adult- you must have a bank account. However, with new advances and transformations, banks are becoming an easier place to deal with. In ten years, there are five banking services that will be obsolete just for your banking experience.

  1. One of the five is in-branch services. For as long as we can remember, branches and banks have always come together but with this new wave of transformations, it’s starting to look like the more traditional bank branches are beginning to say goodbye.
  2. Secondly, check writing and the cashing of checks may also be saying it’s final goodbyes as a 2014 poll says that 38% of those who responded to the poll says they never write checks while 16% say they only write one check a month for personal uses. As credit cards and online banking are becoming more wildly used, checks are getting thrown out the window.
  3. That brings us to the third banking service, paper. Not only are people cutting their use of checks, but also the use of paper as banks try to reduce the use of paper of any kind to allow online banking to be the primary source of banking.
  4. Many people believe that once the shift from physical to online banking takes over, the job of bank tellers will disappear but here’s the good news- bank tellers will still be here to assist customers! In the next ten years, the role of a bank teller could change and they will be there no only to assist customers on simple banking needs but to offer an abundance of banking and financial knowledge.
  5. Last but not least, there will be a change involving face-to-face asset managing. This face-to-face service will likely be disappearing and replaced by an digital asset managing where you can do the same thing as in person, just digitally!
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