30% of bank jobs are under threat
Post Date : April 5, 2016 | 12:37 pm
Digital disruption is turning finance on its head — and destroying tons of traditional banking jobs along the way.
Published:
(CNN) — A wave of innovation has made it possible for people to get their banking done without walking into a branch if they don’t want to. People can now deposit checks using a smartphone or digitally fire off cash to friends using Venmo.
The end result is a pretty sweet experience for consumers…but an imminent threat to people who work at bank branches.
The downsizing of the bank workforce is about to accelerate as more technology takes over jobs humans used to do, according to a new Citigroup report. Another 30% of bank jobs could be lost between 2015 and 2025, mainly due to retail banking automation, Citi warned.
