In “product innovations which I wouldn’t have expected but which make lots of sense”; Starbucks has a debit card in the US (through Chase).
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The retail establishment most similar to a bank branch is a cell phone store. Their entire job is, in a conversation you have once every few years, get you onboarded to a product with badonkadonk LTVs. The badonkadonk nature of this is why there are cell phone shops everywhere.
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(Interestingly, many Japanese banks still have material back office operations at many of their branches. Large US and, to my understanding, UK banks have almost entirely eliminated this practice; retail back office is located either at HQ or at one of a few concentrated sites.)
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“Back office” refers to the parts of a financial institution which are not customer facing (accounting, recordkeeping, compliance, etc); “front office” is the part which is customer facing (sales and account servicing).
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Hello Mr. Obvious Professional: How happy are you with your credit cards? Can I pay you $600 to open this one? Do you have a savings account with us? Can I pay you $200 to open one? In the market for a car or house? We can help with that. Say do you have an investment advisor?
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So they can sell us mortgage or borrow cash to buy new Rolex boiiii
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I always chuckle when visiting my local Wells Fargo retail location... "would you like a safety deposit box today? we have 3 sizes available starting at $150/month!"
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