Overheard a branch manager say mobile banking is killing in-person sales

I was at a Chase branch in Austin last Tuesday and heard the manager telling a rep that they lost over $15k in cross-sell revenue last month because people just use the app now. Everyone seems to think mobile first is always better, but I saw three customers walk out without asking about credit cards or loans because no one approached them. Maybe pushing everyone to digital is actually costing banks real money. Has anyone else seen this play out at their local branch?

2 comments

2 Comments

keithbennett17d ago

Eh, but maybe those people just weren't going to buy anything anyway. Lots of folks walk into a bank just to deposit a check or grab cash, they're not looking for a credit card.

christopher_sullivan17d ago

Read a report from the Federal Reserve last year that said branch sales dropped 22% after the pandemic pushed everyone to apps. Those customers you saw walking out probably needed a product but didn't get asked. Banks are definitely leaving money on the table by assuming digital covers everything.