Bank of America is experimenting with completely automated branches that have radically smaller footprints and no on-site employees. The bank has already opened one of these so-called “robo branches” in Minneapolis, and two in Denver.
Bank of America’s traditional branches run about 5,000 square feet. The new robo branch models are about a quarter of that size.
The automated branches feature nothing more than an ATM and a meeting room for video conferences. Similar to an Apple Genius Bar, customers make an appointment through the bank’s mobile app.
For more on this story visit the following link: Bank of America Opens Tellerless ‘Robo Branches’
Source: The Financial Brand