The banking and financial services world witnessed a period of incredible change during the pandemic. Changes in how people access their finances and the large-scale acceptance of digital services. These changes saw banks question many long-held assumptions about their customers, their employees and even their very purpose.

We’ve highlighted five trends that could impact the banking sector in 2023. Sustainability and analytics are an important part of this shift, with the potential to make banks more competitive and far more responsive to real-world concerns. We also highlight how banking is becoming personal once again, and how the quality of the in-person experience could influence customer acquisition and retention in the retail banking space.

1. Shared Infrastructure

As many banks look to optimise their branch networks, a Shared Infrastructure model is emerging as a strategy for ensuring a continued physical presence. By bringing together multiple banks, customers including SMEs can access banking services in community areas like supermarkets, libraries and malls. From a bank’s perspective, a shared infrastructure model enables them to provide physical banking services to their customers at a much lower cost. Even in areas that are considered “banking deserts”, banks can utilise shared infrastructure locations to more economically interact with customers face-to-face.

Open Banking platforms can play a key part in maintaining localised and in-person access to financial services. British fintech OneBanx, for instance, provides everyday banking services such as cash deposit and withdrawal, payments and face-to-face support, for people and SMEs in communities where there is no longer any other high street banking presence.

2.The March Towards Net Zero

Moving beyond what were once largely CSR initiatives, many banks have significantly increased their adoption of sustainability measures, including reducing the environmental impact of cash. Within the cash cycle, transportation between cash centres, banks, ATMs and merchants is the area with the largest environmental footprint. Cash recycling solutions like Glory’s GLR-200 series can dramatically shorten the cash cycle by reducing the transportation and movement of cash, which helps banks reduce the carbon footprint – and cost - of ensuring continued local access to cash.

3. The Internet of Things

From connected Teller Cash Recyclers to biometric sensors that authenticate customers, the Internet of Things (IoT) can facilitate a better understanding of banking operations. On a continuous basis, connected devices across branches create an incredible amount of data. A platform like Glory’s UBIQULAR™ software suite can uncover valuable information hidden within this available data, giving real-time, actionable insights into branch performance, asset management and utilisation of staff.

4. The Branch Reinvented

With innovative fintechs and apps vying for a cut of their customer base, many banks are reassessing the unique customer benefits their branch networks provide. Bank branches today are often the final destinations for customer journeys that begin online or on mobile, and personal, targeted user experiences can be key differentiators. In-branch multi-transactional branch banking solutions like Glory’s TellerConcierge™can play an important role in implementing cost-effective branch optimisation strategies.

5. It's (really) Personal Again

As we return to a stage of normalcy, the bank is becoming personal again. Across all age groups and demographics, customers are realising the value of face-to-face interactions with banking experts. This offers a way forward to what banking should be all about — understanding the larger relationship and meeting the needs and preferences of individual customers. As banks seek to create more open and inviting environments for customers, solutions like Glory’s GLR Series Teller Cash Recyclers can increase cash processing efficiency, meaning more time can be dedicated to conversations and interactions.



Technology and customer preferences are evolving, and banks are continuously looking at ways to meet customer expectations. Read more here about Glory’s range of cash automation technologies and analytical tools. Or why not contact us today to discuss how we can help drive efficiencies, lower costs, and better customer experiences across your branch network in 2023.