Source: thedailycoin.orgCaixaBank just cut the banks branch hours to 8:15 am to 11 am, less than 3 hours a day. It’s forcing its customers to complete their transactions through the ATM. This is a common trend among the banking industry. The first reason is to reduce the need for human resources. As we have come to know, humans need time off and ATMs don’t. If banks can reduce humans they can reduce expenses related to human frailties, as we can see robots are the future.
As you consider further, you may see that the banks are reducing the number of branches and services that involves human interaction. Is it a harbinger of things to come. Not to be of a ‘doom and gloom’ mentality but why are they collapsing the banking footprint? Perhaps it is related to the growth of cryptocurrencies, since people are gravitating to banking through their cell phone and the need for a physical bank is diminishing or is it due to the end of money (physical dollars) as we know it?
Are we on the verge of banks going the way of the dinosaur (and hopefully the overpaid bankers as well)? As we watch the evolution of the economies, we may be acutely aware that the current system is inviable. Also the way we historically thought of currency or money is rapidly changing. But the future (as it usually is) is not clear and we must do our best and hone our bartering skills.