Is Chase Going Branchless?

JP Morgan Chase has around 5,400, but it’s exploring retail banking without them.

It appears as though Chase is looking into expanding its “branchless” banking operations, with a particular eye on agency, or third-party, banking delivery channels. There’s been evidence online of executives in Chase Bank’s product development unit specifically looking into implementing agency delivery channels, “where a third party, who is not a bank, performs banking services on your behalf.”
This is interesting considering that Chase has the third-largest branch network in the nation. Obviously, most of the “branchless” banking focus has been on the developing mobile banking channel, but third-party delivery is a viable retail strategy. And maybe there is something there, if Chase is taking a harder look at it?
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    One Comment

    1. jjhornblass says:

      Thank you all for your comments. To a large degree, many of the questions asked in this thread were answered. However, to address the most pointed questions, no, there is no evidence that Chase is doing anything but investigating agency delivery channels. But the evidence that they are investigating such channels is clear.

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