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National Australia Bank Limited (ASX:NAB) says its branches are likely to get smaller in the future as more people do their day-to-day banking over the mobile and internet.
NAB opened its first smart store in Melbourne this week, using self-serve technology seen in supermarkets.
The stores will reduce the size of NAB’s branches by about 25 per cent and will be introduced progressively over the coming years
NAB head of network design and capacity planning Peter Holmes says the number of branches will stay the same, but there will be fewer staff.
The layout of the store features iPads, smart phones, widescreen televisions and bench size tablet computers.
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