Industry in transition

Bank now swaps safe for fridge

Depositing or withdrawing money directly at the counter is becoming increasingly rare. Today, almost everything is done at machines or digitally.

(Bild: Krone KREATIV/Markus Wenzel (2))

Today, customers conduct almost all banking transactions digitally or at an ATM. As a result, branches are being merged and over-the-counter services are being reduced. In the locations that remain, the focus is shifting to consultation areas and atmosphere. Read here how the banks in Upper Austria are experiencing and implementing change.

"We want to enable our customers and colleagues to spend the fall vacations with their families." This is how Stefanie Christina Huber explained why Sparkasse Oberösterreich, which she manages, is bringing forward World Savings Day to October 24, breaking with a tradition that has been firmly anchored on the last day in October for more than 100 years.

This is how much money we have in our wallets

The average Austrian carries 102 euros in cash in their wallet. This figure has risen recently, which is explained by inflation. Consumers use cash for 77 percent of payments under 10 euros, while cards are used for higher amounts.

"Good", some people think. Others, on the other hand, don't care at all because they rarely or never go into a bank branch anyway and World Savings Day is therefore irrelevant to them. After all, online banking has become indispensable: customers carry out almost all banking transactions digitally or at an ATM - depositing, withdrawing, transferring money, printing out account statements.

On average, customers go to an ATM three times a month to withdraw money. This number is generally declining. We are also noticing very, very strongly that pure cash withdrawals at bank counters are decreasing, while cashless payments are increasing.

Michaela Keplinger-Mitterlehner, Obfrau der Sparte Bank & Versi- cherung in der WK OÖ

Bild: Dostal Harald

The figures speak for themselves: out of almost 6.2 million payment transactions, Hypo OÖ counted only 21,000 manual transactions in the previous year. At Raiffeisen Upper Austria, more than 98% of transactions were processed digitally in 2023. "Customers carry out their banking transactions on their laptops, many of them on their cell phones in the meantime," confirms Raiffeisenlandesbank CEO Heinrich Schaller.

"Consulting company and IT service provider"
"At the end of the day, we are a consulting firm and an IT service provider," describes VKB General Director Markus Auer. "There is an incredible longing for a contact person who takes care of concerns and has time," says Oberbank CEO Franz Gasselsberger.

"Workplaces are changing"
As a result, the branches that remain are being remodeled and the traditional bank counter is disappearing. "The jobs are changing," says Hypo-OÖ CEO Klaus Kumpfmüller. Auer talks about an atmosphere that is being created: "When we refit a branch, the place where the counter safe used to be is now the fridge so that we can offer drinks for consultations."