Speaking to a gathering of financiers in the skyscrapers of Canary Wharf last week, the chief executive of British bank Barclays made a surprising admission. .
The scale and pace of Blue Eagle branch closures had damaged the 330-year-old lender's relationships with customers, and Wim Maru wanted to fix it.
“We know that our focus on transformation in recent years has damaged this relationship,” Maru admitted.
For a group of wealthy bankers more concerned with returns on real capital, the comments provided a startling glimpse into a subtle shift in strategy.
Amid growing regulatory scrutiny and political pressure, banks are beginning to focus on greater focus on the need to fill the gap left by their branch closures.
“We recognize that as branches have closed… we need to find ways for customers to access cash,” It said last week Noel Quinn, chief executive of HSBC. “Despite strong growth in digital banking, people still want access to cash and so we need to work together to provide access.”
Lloyds CEO Charlie Nunn echoed this sentiment, saying face to face: face service was an “important part” of Lloyds’ offer.
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