Australian banks shift channel focus showing slower growth in traditional channels usage
With the positive take-up rate amongst Australian retail customers, mobile banking will be instrumental in altering the way bank branches are used going forward.
The major banks in Australia have strong distribution networks and substantial market share in the retail business. Banks are going slow on increasing the branch network in Australia; 2012 saw an increase in growth of branch network only as a result of building societies converting to banks.
Expansion of Australian banks’ branch network slowing down
Figure 1. Total bank branches in Australia (and growth from 2009 – 2014e)
Banks’ focus shifting…
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