But those who follow developments in online financial services think that vision is increasingly resembling traditional banks of today. No date has been set. And data shows the mockery is somewhat justified. Perhaps, the change of heart is fueled by the relatively slow adoption of online financial services. Most Web-based financial services have yet to win acceptance among consumers, according to a report by Mercer Management Consulting.
Personnel are at hand but customers are directed to machines to conduct their transactions.
But replacing physical labor with technology doesn't necessarily insure lower costs as banks have found in migrating their customers onto the Internet. However, there are residual benefits. Banks found that as a result of their responsiveness, customers tended to stay with the financial institutions that would catered to their needs. Since the completion of its Card Capture Services Inc. acquisition, the company has operated the nation's third largest ATM network behind Wells Fargo and Bank of America. Because development is in the early stages, however, it is unclear if the company plans to offer trading or only access through the ATM, Newman cautioned.