Banks are still under pressure from the financial crisis. They are facing all kinds of mortgage problems while being challenged from every angle on revenue sources. Most have had significant layoffs. Bank of America has talked about laying off 30,000 employees over a 3 year span. I have a big idea that may help these banks out.
During my short career in the banking industry, I have seen very few things. However, one does nothing but disturb me. That is the teller position. Teller jobs should be obsolete. We can make deposits and withdrawals through the ATM. We can pay bills and loans and make transfers through online banking. Even mobile banking is making an appearance. What could banks possibly need a teller for?
If big banks would have ATMs strategically placed around a city with one building for those wanting to open accounts and apply for loans, these banks would see all kinds of revenue. They would save money through utilities, real estate, buildings, and employees. The downside: the layoff of tellers. I guess we are back at square one. Banks will continue to have problems. There is no hope.
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