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
Cannes Briefing: The Cannes confessional
Cannes is soft win. Attendees showed up and so did everyone else and the showing up is the whole transaction.
Future of Marketing Briefing: CMOs are still haunted by hard questions about value of ad creative
While interest in AI-enabled media and creative effectiveness measurement is rising, 49% of senior marketers say they can’t back up their ad creative with hard data.
Nike versus Adidas: Who’s winning the World Cup’s brand head to head?
Both Adidas and Nike are gunning to dominate the World Cup. We examine campaign performance data to see who’s out in front.