Intelligence

Why a virtual bank is making bank branches part of its US launch

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.

Source: Tearsheet

More: http://www.tearsheet.co/modern-banking-experience/why-a-virtual-bank-is-making-bank-branches-part-of-its-u-s-launch

Vested Logo

© 2017 Vested. All rights reserved.