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Demchak said PNC had planned to close 80 to 90 branches this year, but the pandemic has hastened those efforts.
So far, that is happening and then some. PNC has opened what it calls "solutions centers" in place of some branches in cities such as Houston, Dallas, Nashville and Kansas City. Customers there can still contact bank employees and access ATMs, mobile workstations and banking kiosks. The bank plans to open 12 more this year and 25 next year, Demchak said.
Even before the pandemic, Fabian said the bank was in the "consolidation business," closing an average of 50 to 70 branches a year. Then, the strategy was "to look for spaces where the traffic flow is going to be the optimum for growth," Fabian said. The bank, at the time, was also piloting a "cashless bank" program, involving 26 branches in eight markets, where cash handling and teller duties would be done through an ATM, with the exception of cashier's checks.
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While some Republicans would rather the pot bill get a stand-alone vote, a of Democrats are eyeing larger reform. New products have Revolut trying its hand at Robinhood's game, Robinhood looking to Coinbase, and PayPal seeing if high-yield savings a la Marcus would be a good fit. Want to share a company announcement with your peers? Search x. An article from. Brief PNC looks to shutter branches by the end of next year. Published Sept.
Dan Ennis Editor. The bank has long had a goal to reduce its physical footprint.
Dawn Fabian, PNC's retail transformation manager, said in November branch consolidation would likely become " more aggressive ," with 80 to per year expected over the next five years. The bank announced 29 branch closures in August alone. The coronavirus is pushing several banks to shift focus toward their digital efforts — and, in many cases, away from branches. KeyBank CEO Chris Gorman said Monday at the same conference that the pandemic has accelerated his company's digital transformation by five yearsgiving the bank an "opportunity to continue to ramp up" branch closures — though he didn't put a target on the effort.
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