BRANCHES

Because they could go extinct . But bricks and mortar are so yesterday . Really ? What happens when the chatbot can ’ t answer your question ? Easy . Banks could implement facetime calls . The human touch doesn ’ t have to involve a counter person that you visit . You may have a point . However , young account holders often need to visit a branch to complete certain tasks . But fintechs are gaining ground and offering great services , without the need for a physical base . True . So where does that leave branch endangerment ? Interestingly , in much the same position . How so ? Because digital banks will likely be required to have a physical presence in economically disadvantaged areas … Hah ! So they are essential . Knew you ’ d admit it in the end ...

� KLARNA Recently secured $ 10.65bn valuation and will move towards a public listing by 2023 .

� REVOLUT The company reports having 11 million customers , and is adding an estimated 11 thousand accounts a day .

� WALMART Following its investment in fintech and hiring two ex-Goldman Sachs executives , is Walmart poised to capture the finance market ?

� BARCLAYS The bank reported a 30 % fall in pre-tax profits to £ 3.1bn for 2020 , down from £ 4.3bn in 2019 .

� NATWEST Formerly the Royal Bank of Scotland and still 62 % taxpayerowned - Natwest posted a pre-tax loss of £ 351m and set aside £ 3.2bn for bad loans .

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