Bank branches could be consigned to the history books as our dealings with banks and mortgage lenders increasingly switches to online platforms. Global News reports that Brian Porter, CEO of Bank of Nova Scotia says that some branches are destined for closure due to increase in online banking and that the banks are reviewing their branch networks especially in areas where footfall is lower. However CIBC’s Victor Dodig said this week that rather than closing branches there will be some evolution in the physical world of banks. It is likely to mean less emphasis on payments and withdrawals and more on advice and financial planning services.
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