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On today鈥檚 podcast episode, we discuss the future of the bank branch. 鈥� In our 鈥淗eadlines鈥� segment, we chat about why banks are closing so many branches and how consumers want more digital experiences. 鈥� In 鈥淪tory by Numbers,鈥� we explain what Curinos defines as branch share and why it used to account for more primary new accounts than it does today. We also discuss the value of closing a branch in order to save operating expenses in a low-rate versus high-rate environment. 鈥� In 鈥淧retend CEO,鈥� we look at regional banks and their deposit portfolios in a high-rate environment. Listen to the discussion with host Rob Rubin and Curinos director Andrew Hovet.

In a first, 62.1% of adults in the US will use mobile banking, surpassing the 61.5% who will use in-branch banking, per our forecast. This is a marked shift from 10 years ago, when 78.8% of adults used bank branches and 18.6% used mobile.

Sen. Brown wants the OCC to discuss the consequences of branch closures with affected communities. But that might not be enough to reverse the trend.

42.4% of US Gen Z banking consumers would consider their proximity to ATMs as a factor before choosing a new bank, while 28.8% would consider their distance to a branch, according to our survey. By contrast, 39.6% would consider the bank鈥檚 reputation.

What this means for the UK market: Currently the fifth-largest bank in the UK, Santander has 14 million customers and 444 branches across the country, per The Times. If a competitor acquires its UK business, there would be significant consolidation in the industry.

While various technology CEOs extended an olive branch to the incoming administration, inevitable policy and regulatory changes are set to alter market dynamics. Big Tech鈥檚 proximity to power: Antitrust lawsuits against Google, Meta, and Amazon loom large. These companies may seek Trump鈥檚 favor to mitigate legal pressures, especially given the conservative majorities in Congress and the Supreme Court.

If TikTok gets banned (and it鈥檚 a very big 鈥渋f鈥�), advertisers need to know where consumers will go. Instagram and YouTube would be likely beneficiaries, but OTT TV like Netflix could also see gains. Advertisers may even branch out to other categories entirely, like retail media. Here are five charts showing what could happen.

Big Tech鈥檚 monumental SCOTUS face-off: Big Tech鈥檚 long-term immunity from content liability is being called into question, but Congress鈥攏ot the Supreme Court鈥攎ight be the better branch of government to navigate the issue.

Instagram鈥檚 new Quiet mode offers an olive branch to parents and regulators as the Biden administration vows to go after Big Tech for 鈥減ut[ting] our children at risk.鈥� All social platforms can sense a new era of accountability, and they鈥檙e making active moves to stay on regulators鈥� good side.

TikTok offers a teen time limit as US ban talks boil over: Talk of serious action is heating up, and TikTok is waving olive branches to prevent the worst.

Branches as differentiators: While many FIs closed branches this year, some took the opportunity to expand or focus their physical presence as a key differentiator. Bank of America鈥檚 鈥渓ocalization鈥� strategy incorporates aspects of local cultures into its 产谤补苍肠丑别蝉鈥� look and feel. BofA is also expanding the services offered at each location.

Tech CEOs extending an olive branch to the incoming president could go a long way in easing regulatory scrutiny, leading to a rise in investments and spurring M&A activity. Mergers steadily trended upward in 2024 for sectors like digital media and marketing in 2024, per Luma Partners.

Wells Fargo has seen growing unionization movement鈥攚ith employees at one branch in Albuquerque, New Mexico, unionizing in 2023. And its conduct management investigators voted to unionize in December 2024, per Banking Dive. What this means for the industry: These union victories at banks and credit unions are likely to inspire other teams in the financial industry to follow suit.

And then the bank's reputation, the branches near them, which is interesting. They do care about being able to go to a physical branch. Fraud prevention, customer service, the fees, interest rates for accounts, banking mobile app quality, discounts, incentives, awards. Rob Rubin (03:28):. So your 13 are just the 13 things that people care about when they choose a bank. Lauren Ashcraft (03:28):. Yes.

These factors may weigh even more heavily for SMBs in rural areas, who can be more isolated from national branches than their urban counterparts. 49% of rural SMBs bank with a local FI, while just 25% choose national banks. What鈥檚 preventing some from choosing local FIs? According to the study:.

Break down barriers that have prevented large parts of the population from participating in banking, such as high fees, distance to banking branches, and financial literacy issues. This will require time and dedication to rebuilding trust in financial institutions.

October: A massive Bank of America outage disrupted digital services and in-branch operations for thousands of users. December: Another Microsoft outage affected Teams, Outlook, and OneDrive, raising questions about whether its data centers are overburdened.

Retailers with multiple locations can use this chart to encourage individual branches or stores to develop their own marketing messaging or to encourage brands to invest more in specific locales. Related 蘑菇AV reports:. Out-of-Home Forecast and Trends 2024 (蘑菇AV subscription required). US CPG Industry Ad Spend 2024 (蘑菇AV subscription required).

FMNs will expand beyond FIs鈥� home geographies and into channels including point-of-sale (POS) terminals, branch networks, and offsite media. FIs may also start acquiring ad tech companies to improve their in-house ad targeting capabilities. Why should FIs have FMNs on their radar? FMNs mark a new chapter in the evolution of commerce media networks (CMNs).

As creators branch out, Reddit could find itself in the mix as a place where fans can engage in deeper conversations. And the platform is positioning Redditors as their own type of influencers. Reddit might not be interested in courting 鈥渢raditional鈥� creators and influencers.

Gen X prefers banking at a branch over ATMs. What this means for banks: Baby boomers are willing to go digital when there鈥檚 added utility for switching over. That means the more user-friendly and useful (for their specific needs) FIs make their mobile banking platform, the more baby boomers could migrate over.

And since baby boomers value in-person banking services more than younger generations, sending them an invitation for a meeting at the branch could be well-received. This article is part of 蘑菇AV鈥檚 client-only subscription Briefings鈥攄aily newsletters authored by industry analysts who are experts in marketing, advertising, media, and tech trends.

US banking digital ad spending growth will rebound dramatically in 2024, but tougher times lie ahead. Understanding the nuances of consumer behavior will be essential to boosting ad impressions.