One of the reasons your banks are blowing up all communication channels saying "Please don't come in to ask questions. Our phone lines are overwhelmed. Have you tried online banking for routine transactions?" is the stated, obvious one. One reason is unstated.
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"Higher-cost channels?" In order of costs per transaction, with an order of magnitude gap: Branch network. Human-assisted telephone banking. ATMs / automated telephone banking. (Bank by mail barely relevant to this discussion due to relative volumes.)
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"Bank by mail?" Oh that's a thing. The overwhelmingly most common use cases are depositing checks and opening accounts. (Historically used to be huge in credit cards but, thankfully, online account applications are eating most of it.)
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(Also still a surprisingly huge chunk of mortgage payments, which are a huge portion of the economy. Sophisticated financial instruments rely on thousands of hours of people opening envelopes and making sure that checks are properly entered against the right account.)
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End of conversation
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You are totally wrong, it’s bc call centers are jammed with unprecedented volume whilst being chronically understaffed due to Coronavirus
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Never gave it much thought to it until this thread, but you can also probably develop from digital response rate a sense of which locales will want physical presence and which will need it less After Coronavirus.
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Every bank I used so far had horrendously bad websites and apps in terms of usability, reliability and accessibility. I sincerely hope they aren't counting on enthusiastic adoption just because people are now literally being forced to use these.
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