The Financial Brand: Reports of the Death of the Branch are Greatly Exaggerated

Executive Summary  

• The branch isn’t dead, it's evolving. While Brett King predicts extinction, U.S. banks like Chase and PNC are doubling down on physical locations, proving the branch still matters.
• Profitability tells the real story. In 2024, 93% of U.S. banks were profitable versus only 61% of the top 100 global digital banks.
• Consumers still want branches. 70% of Americans view a nearby branch as necessary, with minimal generational divide.
• Adaptation is the future. Branches must shift from transactional hubs to advisory centers to stay relevant.

Read the full article on The Financial Brand.

Does Brett King wear black because he hosts his own daily funeral for the retail bank branch?

If he's at the funeral, I'm throwing birthday parties. Come party with me.

Look, I’ve never met Mr. King, although I sincerely look forward to the opportunity. In fact, after reading King’s latest book, Branch Tomorrow, even I must admit that his outlook on the complete death and destruction of the branch isn’t quite as doom and gloom as some of his LinkedIn posts might have you believe. See also: The Financial Brand’s recent conversation with King.

Nonetheless, consider this to be my love letter to all of those fighting for the survival of the humble institution known as the bank branch.

As I sat to write, I received a phone call from my DBSI colleague and former Synovus exec, Carla Trombly. She was on her way to none other than a bank branch.

“There’s something I need to do that can’t be done online. If Bank of America and Amex haven’t figured out how to do this without a branch, nobody has.” 

This far-too-common example illustrates that the branch of the future (I hate that phrase) needs to be more than just an “advice hub”. It must be a “problem resolution center” armed with digital advocates and empathy wizards prepared to offer one-stop shop of friction reduction in the overall customer experience.

"EJ Kritz, I think you have a fundamental misunderstanding of what is happening globally in banking,” said King in a recent exchange with me on LinkedIn.

The word “global” is key. Mine is a U.S.-based argument. I acknowledge that focusing my argument on just one country may be short-sighted. That said, I believe there is a pronounced difference in the purpose (and chances for survival) of branches throughout this country, justifying an America-specific discussion.

In fact, if you read Branch Tomorrow, you will gain an understanding of how drastically different the U.S. is from the balance of the global banking environment.

Brett notes on LinkedIn, "Of the top 50 fastest growing FIs in the world, NONE of them have branches." He referenced banks like Revolut and N26, both of whom spent years reporting financial losses despite huge user growth. According to a 2025 study by TABinsights, only 61% of the top 100 digital banks globally reported full-year profitability. Meanwhile, according to FDIC filings, just over 93% of U.S. banks were profitable in 2024.

Call me crazy, but I follow the money, not users.

If you want to take a global view, have at it. Europe, Asia, Australia: They're different places. Different priorities. Heck, only about 10% of the digital banks in the world are even based in North America, which tells you something. I am focused on the future of branching in America, where virtually ALL the top U.S. banks have branches. Moreover, Chase, PNC, and countless community banks and credit unions are doubling down on branching.

It’s been well-reported how many branches the big dogs plan to add over the coming years. Less discussed is similar growth of community bank and credit union footprints. Many, if not most, of my clients from that space plan to add one or two branches a year for the foreseeable future.

They can't possibly all be misguided. Maybe the 9% YoY revenue growth at Chase is a mirage.

But I know this for sure: I believe in the future of branches.

Continue the article on thefinancialbrand.com.