Digital banking leading the way to coworking spaces
Digital banking has largely replaced visiting branches, leading many of these offices to have underutilized space. With this, some branches have opted to add coffee shops in their spaces, while others are creating coworking spaces for smaller businesses.
The coworking sector has seen a huge increase in demand over the past few years. In 2017, expansion in the sector represented 29.4% of total office absorption in the U.S.
Coworking memberships are not dedicated for the tech industry, but also for part-time workers, freelancers, and workers apart of large corporations. For example, companies such as Microsoft and Verizon use coworking spaces to promote creativity.
About 59% of people prefer coworking over traditional offices or home-based options due to wanting a social work environment.
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Coworking spaces can also be more convenient in general, as members usually don’t need much more than their own laptop and mobile phone. Most coworking spaces offer high-speed WiFi, free printing, audio/video conferencing, a full kitchen, meeting rooms and offices, and other essentials for a workday.
Bank branch coworking spaces also give banks a better chance of attracting highly desirable clients, according to Christopher S. Rollyson and Associates.
Beyond the space itself, the technical capabilities and secure network is a sought out after amenity that other coworking spaces cannot provide.
Bank branch coworking spaces offer a hub for small businesses to connect and be customers of each other.
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