Over 20,000 bank branches have been closed in the euro zone since 2010, representing a 10% decline. Almost every other day, a new bank announces plans to reduce its footprint, due to the increasing used of mobile and internet banking, the need to reduce operating costs but also the rising costs of real estate.
At the Future of Cash Conference in Paris in April, Prosegur described their ‘multi-branch’ concept where they provide cash services for customers of different banks. This solution is currently popular in Latin America and enables banks to offer services in areas where they lack the critical mass to operate a branch in a profitable way. According to Prosegur, several European customers have expressed interest in this type of solution.
More recently, G4S announced plans to provide cash handling and depositing services for customers of different banks from the same outlet, in the UK and five other European countries.
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