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A new report published today by Temenos (SIX: TEMN), the banking software company, finds that 65% of global banking executives believe branch-based banking will be "dead" within five years. The report written by the Economist Intelligence Unit (EIU) entitled "Branching out: can banks move from city centres to digital ecosystems?" is based on a recent survey of 305 senior global banking executives.
The research highlights how COVID-19 branch closures, new technologies and increased competition from fintechs, super-app platforms and tech giants have accelerated digital transformation and triggered a shift in banking priorities and business models.
The report highlights how 65% of global banking executives view new technologies such as cloud, AI, and...
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