Online Banking Grows on Mobile Devices/The Internet and ATMs Replace Branches and Tellers, Business and Industry Trends Analysis

Banks have learned that combining the convenience of online banking with a chain of branch locations and ATMs allows them to fill the entire range of many customers' needs.  This is similar to the trend among major retailers of combining e-commerce and physical storefronts, thereby creating synergies between bricks and clicks.  Virtually all banks now have web sites where customers can monitor the status of their accounts, including checking, savings, investments and loans; make money-transfers to pay bills; and apply for services online.  For the most part, online banking has been an enormous success. In the wake of the 2008-09…

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