Archil Gachechiladze, general director of Bank of Georgia, predicts that the number of banks’ branches will be decreased in line with change of customers’ behavior.
Gachechilaze told TV-program #BMGDRIVE while talking about the challenges and opportunities created amid COVID-19.
Gachechiladze expects a "big leap" in the coming months in terms of increasing digital services in the financial sector.
“There are many banks in the West, where they do not have branches at all. In Georgia, we have many branches, but it is not because we cannot technically offer online services. Everything can be done today through Internet banking, but customers are accustomed to visit banks’ branches. In this regard, I think more can be done ... it can also save money and then it will be reflected on the customer, as we may reduce interest rates or service fees, "- said the General Director of the Bank of Georgia.
According to him, Bank of Georgia maximally increases quality of internet banking services. “Customers will gradually accustom that taking banking services remotely is easier”, he noted.
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