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Bank of America may have shown the death of the bank branch is overstated Bank of America (BofA) announced plans to open more than 500 new branches across the US over the next four years, according to The Wall Street Journal.
The bank will expand into some states that it didn't previously operate in, like Ohio, where it will open branches in Cincinnati, Cleveland, and Columbus in the fourth quarter of this year. BofA will also be redesigning 1,500 existing locations with new layouts and technology.
The move might seem surprising considering BofA's downsizing strategy in recent years, which has been seemingly consistent with national banking trends.
Despite a high volume of branch closures in the US, the impending death of the bank branch might be drastically overstated.
Business Insider Intelligence analyst Rachel Green has the full story.
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| | | Google is aiming to make its Google Assistant voice platform more useful by enabling multi-step voice commands and more tightly integrating the assistant with smartphones and carriers. Read More → | | | | |
| | | US credit bureau Equifax has formed a partnership with South Africa-based Entersekt, a company specializing in customer authentication and device security. Read More → | | | | |
| | | Search engines sent more traffic to global publishers than social platforms did in 2017, according to data from content amplification platform Shareaholic. Read More → | | | | |
| | | Walmart is launching its own mattress and bedding brand, dubbed Allswell, with its sights set on affluent consumers. Read More → | | | | |
| | | Netflix's next 100 million subscribers will come from India, said Netflix CEO Reed Hastings at The Economic Times Global Business Summit (GBS) last Friday, per The Economic Times. For context, Netflix last reported 117.6 million global subscribers in Q4 2017. Read More → | | | | |
| | | Amazon has agreed to purchase Ring, the Santa Monica-based video doorbell manufacturer, according to GeekWire. Neither company confirmed the final acquisition price, though Recode reports the e-commerce titan paid somewhere between $1.2 billion and $1.8 billion. Read More → | | | | |
| | | Refurbished phones now account for nearly one out of every 10 devices sold, representing the fastest-growing segment of the global smartphone market, according to Counterpoint Research. Read More → | | | | |
| | | Apps had the biggest share of e-commerce transactions in Q4 2017 among North American retailers with shopping apps, according to a report from Criteo. Read More → | | | | |
| | | The automaker is establishing partnerships with companies and a control center that will allow it to oversee operations. It's also engaging in an extensive mapping project around the city in order to build up a database that cars will be able to reference, and autonomous vehicle testing is already underway in the city. Read More → | | | | |
| | | Chinese smartphone vendor Coolpad announced plans to integrate Amazon's voice assistant Alexa in select smartphones for consumers in India. The Alexa integration will come through an over-the-air update for the Cool Play 6 and Note 5 models. Read More → | | | | |
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