Be honest. Isn't that the biggest waste of money at this point?
15 replies (most recent on top)
Yes. Unless you want to, as an example, hit 1 for English, 3 for customer service, 2 for banking, etc., and then get hung up on after 15 minutes of hold time… it’s way easier to go into a branch to get your issue resolved.
Scammers are getting wicked smart how they hook you in and AI will help them do more.
When this inevitably happens with the precious ApplePay, Google Wallet, whatever, I want to go to an actual branch and talk to a real live BofA person!!!!
(Still the biggest moneymakers this company has. You can thank them for covering you azz and getting you paid when your group doesn't hit goals.)
https://www.youtube.com/watch?v=xD9gt1VJ2kM
@ 2jjg+1qp7DE4I
OP just got cut from the branches in January,, couldn’t even make it there. lol
The boomers and silent gen can’t figure out bill pay and need hand holding. Hence the reason we’re also being micro managed back into the office like babies.
Agreed, my comment was a bunch of unilatetal waste - cross channels
Most of them could go & it might actually improve performance
@2xut+1qp7DE4I - the issue of poor middle and SENIOR management is pervasive throughout this entire company! Not limited to branches or any one LOB.
Stop picking on our branches. What is your problem?
There are so many much more costly targets to go after (looking at the $33 Million Man and his ridiculously unqualified/incompetent direct report cronies who are literally carried by their staff. Bunch of fakers. Rich fakers, yes, but fakers nonetheless.)
There are too many branches with a lot of worthless mid managers who hold meaningless conference calls. Many of them managers don't know their azz from a hole in the wall .
If cutting the fat is the goal, they could eliminate a plethora of mediocre mid level management
The org chart could afford to lose a few pounds
Well said! That is one of the most well thoughtout posts I've seen in quite some time.
yes - for numerous reasons.
- Not everyone is digitally proficient (nor should they have to be) - why would we leave all that market share on the table?
- Not everyone is digitally trusting (nor should they have to be) - a lot of people still really like cash - why would we leave that market share on the table?
- U.S. population is aging rapidly - fact is the majority of personal capital is currently held by Boomers, many of whom are facing cognitive decline. FCs play an important role to ensuring their transactions are executed correctly and that these customers are not deceived by Bad Actors online.
- Not everyone prefers to interact with a machine instead of a human (nor should they have to) - why leave that market share on the table?
- There are still several transactions that legally require in-person execution (updated the beneficiaries on your checking or savings accounts lately?) - are you magically going to get the laws changed by yourself?
- Majority of branches make tons more, than they cost - why leave that market share on the table?
- PEOPLE LIKE THEM!! - there is an epidemic of loneliness in the U.S., and many just like the human interaction, someplace to go during the week, chit chat, humor, etc. After all, at the end of the day banking remains a Relationship Business. We make a ton off that goodwill. Consumer still the biggest revenue stream driving your paycheck - I as you again, why would we leave all that market share on the table?
Maybe after all of us boomers die off, you can have your Ai bot stage a coup. In the meantime, why on earth are you hating so much on our FC teammates? (I don't work in a branch, but I do appreciate the service, convenience, friendship and TRUST they provide to the MILLIONS of customers who apparently, judging by wallet share, continue to value the FCs.)
I expect one day cash and branches will go by the way side, like pneumatic tubes, but for now, they continue to make a $hit ton of money for us.
So, I ask you again, why would we leave all that market share on the table?
TPTB want you in their CBDC system which they can control with a push of a button in combination with their "social credit score."
Our clients would revolt if they didn’t have access to local branches. We make the most money off of our preferred and private bank clients who strangely enough prefer to walk into a local branch to service them whenever they need. Is there room for downsizing and being more intentional with where locations are? Yes and that work has been happening for awhile now. We will continue to shrink locations as digital grows but there will never come a day when we don’t have them .. atleast not it BOA wants to keep their doors open. Half the revenue for the company comes from the FC channel.
Of course branches are necessary.
Lol. I realize you meant physical bank branches, but my software engineer brain just went "What? How are we supposed to maintain clean version control if we can't create new branches?!"
Obviously management disagrees and opens even more branches in the new expansion markets.
If you are not trolling, you have just exposed that you work outside of the branches! What have those teammates done to you? They don’t even interact with you much.
If you work inside the branches and gave this comment, how much do you dislike your teammates? Be kind. This year has just started. You always have the option to find something else to do if you find the bank wasteful.