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Banking sector: Business model transformation?

I read an article on the banking sector (and how it has changed with the introduction of ATM) but what really caught my eye was the claim by Fortune write Ellen Florian, "(The ATM) never reduced the number of tellers or filled the demand for bank branches - something the machine's pioneers had promised.  According to the FDIC's count, there are close to 75,000 branches today, up from 58,000 in 1985.  Tellers number 539,000 vs. the 484,000 in 1985 - though many of them now also function as retailers, cross-selling IRAs and mortgages to customers who come in with a big deposit.  And that is something human beings still do better than any machine..."



I was very impressed with the statistics because it supports my hypothesis that only business model transformation will protect American economy against technological shifts and offshoring.  So I thought of doing an article on the subject to show that what has happened in the banking sector might very well happen to other sectors (e.g. manufacturing or IT) if we could retrain Americans to focus on high-value business process.  But I wanted to dig more data on teller employment over the years so that I could draw a chart showing how employment was going up.  I had a hard time finding yearly data on number of bank tellers (I could only access some old studies conducted by various Fed economists and other tidbits of information from various Department of Labor publication) but I was still able to come up with seven data points for the period mentioned by Floria. So let us review the data in the table below:

Yes, the number of tellers did go up by 55,000, but the US population grew by 53 million.  In effect, the number of tellers did drop, which was something I had expected considering that you see fewer of them and use them even less often.  Several articles that I reviewed indicate that more branches are being opened (and more tellers being hired) in neighborhoods with large number of immigrants (who prefer going to a branch to do business with a live person).  I was sincerely hoping that Florian were right.