The switch to a greater digital presence comes after the financial institutions reported a 30% drop in footfall at their branches over the past three years. In addition to the shift to mobile and online, Clydesdale and Yorkshire banks plan on investing in their debit and credit card portfolio, making their cards fully contactless as consumer adoption and use of contactless payments grows in the UK.
In a statement, the National Australia Bank said “These necessary changes will move Clydesdale and Yorkshire Banks in line with the way customers are accessing their banking services,” citing a 40% increase in consumer mobile and online banking use in the past three years.
The reorganization of branches and the strategic shift to improving online and mobile channels is part of a wider industry trend seen in the UK as well as US. By making this change, the National Australia Bank and its subsidiaries the Clydesdale and Yorkshire banks are ensuring that they are not left behind as consumers demand more innovation from their financial institutions.
Source : Here
