Clicks + bricks = competitive edge
US banks are investing billions in digital tools. At the same time, they are expanding physical networks.
- JPMorgan: 160+ new branches in 2026
- Bank of America: Up to 100 new locations by 2027
- Fifth Third: 172 branches added since 2018
Why?
- Half of new customers may open accounts online
- But 80% live within 5 miles of a branch
- More than 2/3 want a physical presence nearby
In a fragmented US market with over 4,000 banks, proximity still influences deposit decisions.
The future of retail banking is not digital versus physical. It is digital supported by physical.
The strongest FIs are building both.
Source: https://www.ft.com/content/6fd2489e-8bea-4a9b-9781-ef8f9e5a33d7
