The rise of the internet and the creation of online banking created a trend of closing physical branches. This trend was only made worse when COVID hit and the improvements to cybersecurity and to the online presence of banks made physical locations almost redundant, as many people expressed they preferred being able to make all their transactions online. This made banks not want to spend money keeping costly locations, and many, like Bank of America almost made it a race to see how many “underperforming” locations they could dispose of.
But now the tide has changed. Problems that should be easily solvable online are not, wait times to speak to an advisor through a messaging app or through a phone are almost unsustainable and problems with verification to do simple tasks are mounting. This can be annoying for regular tech savvy individuals, but it is torture for those with struggle with technology and almost impossible to manage for those who have unique situations or circumstances that do not fit into the narrow tick boxes available.
The new Bank of America plan to expand their physical presence
While we do not believe that we will ever see the same number of physical locations as before (and some areas were really overcrowded with branches considering the current use that they have), having to travel for more than two hours to be able to speak to a human representative of your bank is a bit excessive, and Bank of America has realized that. That is one of the many reasons why they are expanding their physical presence once again and opening more than 150 new branches across the United States by the end of 2027.
The institution has announced that its upcoming expansions and renovation of existing branches will span over 60 regions and will be based on a structured rollout plan. This year alone, 40 new branches are slated to launch, with Idaho receiving four of them. The first of these, located in Nampa, is scheduled to begin operations on June 9.
But while this year will be intense, 2026 will be even more strenuous, as the remaining 70 branches are scheduled to be ready by the end of the year. This plan is supposed to make Bank of America a pioneer in the banking industry and help it position itself as a modern company with accessible infrastructure throughout the country.
Since they are committed to improve overall, they will be also investing a lot of resources into improving and renovating their current branches. This will also happen over the next two years, so that at the end of the process their company image is solid and focused on the future. The renovations will hopefully make their spaces more comfortable and efficient for their customers, and while there are many ways to do this, one small way that they are choosing to represent their inclusivity is by a collaboration with ArtLifting, This collaboration will allow them to display artwork by artists with disabilities or in vulnerable situations to decorate several of its branches.
But it is not just lip service to the community, another of their initiatives is to implement sign language interpreter services through a QR code located in branches. This will further make their locations accessible and will allow those will special needs to better communicate with staff in a way that their online services facilitate but do not fully achieve.
Whether or not this effort will help them become the number one bank in America will remain to be seen, but any and all inclusion efforts will be appreciated and rewarded by the communities they are striving to help.