Is Chase Going Branchless?
JP Morgan Chase has around 5,400, but it’s exploring retail banking without them.
It appears as though Chase is looking into expanding its “branchless” banking operations, with a particular eye on agency, or third-party, banking delivery channels. There’s been evidence online of executives in Chase Bank’s product development unit specifically looking into implementing agency delivery channels, “where a third party, who is not a bank, performs banking services on your behalf.”
This is interesting considering that Chase has the third-largest branch network in the nation. Obviously, most of the “branchless” banking focus has been on the developing mobile banking channel, but third-party delivery is a viable retail strategy. And maybe there is something there, if Chase is taking a harder look at it?
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