bricks and mortar banks

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  • Juri

    Senior Member
    italian/Slovenia
    " ING Direct" is such bank; operating in UK , Netherland and 9 EU countries. Context:"It's hard to point to a mainstream bank today, that does'nt have an online presence.
     

    You little ripper!

    Senior Member
    Australian English
    Juri said:
    " ING Direct" is such bank; operating in UK , Netherland and 9 EU countries. Context:"It's hard to point to a mainstream bank today, that does'nt have an online presence.
    I think that Bricks and Mortar banks can actually have an Internet Banking arm but there are also Internet Only Banks which is what the difference is here. A Bricks and Mortar bank actually has a building that you can go into and speak to someone personally. This link may help a little.
    http://72.14.203.104/search?q=cacheGXmfSFoP4UJ:www.fool.com/money/banking/online/three.htm+what+is+%22bricks+and+mortar++bank%22&hl=en&client=firefox-a
     

    lsp

    Senior Member
    NY
    US, English
    Juri said:
    " ING Direct" is such bank; operating in UK , Netherland and 9 EU countries. Context:"It's hard to point to a mainstream bank today, that does'nt doesn't have an online presence.
    ING is exactly the opposite. It did not originate as a brick and mortar institution (physical, as explained) and is different from mainstream banks because they ALSO (rather than ONLY) have an online presence.
     
    In the banking industry today (I used to do advertising for them) "bricks and mortar" is a term for the "old" way of doing banking -- specifically growing your bank -- by building branches. This is, of course, very expensive; then you have to hire employees etc., adding to the cost. The new "model" at many banks is to bypass as much as possible the "bricks and mortar" way of doing business and attempt to find other means of delivering services: ATMs, online banking, telephone banking and other ways to get business and fees without the expense of building branches.
     

    lsp

    Senior Member
    NY
    US, English
    carrickp said:
    In the banking industry today (I used to do advertising for them) "bricks and mortar" is a term for the "old" way of doing banking -- specifically growing your bank -- by building branches. This is, of course, very expensive; then you have to hire employees etc., adding to the cost. The new "model" at many banks is to bypass as much as possible the "bricks and mortar" way of doing business and attempt to find other means of delivering services: ATMs, online banking, telephone banking and other ways to get business and fees without the expense of building branches.
    It is now a term used for all businesses to distinguish between physical and virtual storefronts (or branches). Amazon is a pure-play, while Apple now has both etail and brick-and-mortar retail stores. Sometimes a company with both will be described as "click-and-brick."
     
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