A new report from Jefferies suggests that young people are still embracing bank branches, despite the rise of digital-only banks.
Physical banking locations "are still viewed as important" and are still a top factor in picking a new bank, according to a new Jefferies retail banking survey. Respondents are still relying on physical locations, especially those age 18 to 34.
Physical banking locations "are still viewed as important" — especially by younger folks, and are still a top factor in picking a new bank, according to a new Jefferies retail banking survey published Thursday. Respondents are still relying on physical locations, especially those age 18 to 34-years-old.
Nearly 75% of respondents visited physical branches at least once per month. Still, younger respondents were more likely than older ones to pick a bank with higher interest rates, but without branch convenience.
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