News

BofA piloting smaller, fully automated branch concept

February 10, 2017

Taking financial self-service to the next level, Bank of America has launched a test of three fully automated branches in Denver and Minneapolis, according to a Charlotte Observer report.

In addition to self-service banking terminals, the pilot branches feature private video conferencing rooms where customers can confer with remote bankers. The rooms are accessible only with a BofA ATM or debit card, the report said.

The centers, which are approximately one-quarter the size of a traditional branch, also maintain one employee on site to provide assistance to customers who need it.

BofA hopes the tests will yield information about ideal hours and duration of staff assistance — and whether the centers can function entirely without personnel.