Brick-And-Mortar Banks are Losing the Battle to their Digital Counterparts

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The foundation of a new generation of banking services is being laid by both the clients and the banks themselves. The need for increased client convenience will force banks to integrate financial services into routine operations. Banks will strive to minimize the costs associated with attracting new clients, and that will result in the shrinkage of costly office branch networks. The state may take over the given infrastructure component (or a monopolizing entity controlled by the state), which will find it easier to interact with citizens. The third vector of bank transformation foresees its evolution into an advisory and recommendation agent that reaches beyond the financial element.