Iam Bank, a startup virtual bank based in Ireland that has offices in the U.K. is set to launch in the U.S. this fall — and it’s going to do it via a physical bank branch. The bank, which is now in the process of buying a Chicago-based bank it declined to name, said it will set up its first branch, known as a “customer experience center” in Milwaukee in the fall.
“We’ve done a lot of research and it all comes down to trust and credibility,” said Simona Stankovska, head of communications for Iam Bank. “For us, the research shows that people have a massive distrust of purely digital offerings. They need to have a human touch, they need to be able to communicate with someone.”
Despite expectations about the death of the branch, recent surveys support Iam Bank’s view that consumers — especially millennial ones — will continue to demand a human touch to banking.
More in Marketing
Rembrand’s CEO wants to grow virtual ad placements in streaming, and he’s looking elsewhere for models
Omar Tawakol wants to improve advertising within the streaming world, and is working with advertisers and publishers to improve that experience.
Marketers are keen to use generative AI in ad campaigns, but hidden costs lurk
Marketers across the industry want to use AI to cut down on time spent in creative production. It’s not so simple in practice.
2025 was rough for Target. It could also be the year when its turnaround began
Much of the front half of the year for Target was defined by the company’s decision in January to pull back on DEI initiatives.