Electronic banking with its ease in terms of depositing and withdrawing money, has had a major role in the decline of physical banks. And this occurrence is certainly not something new to Arizona. Over the last few years, as more and more consumers have shifted their banking habits from traditional, physical methods to more convenient, electronic ones; Arizona has suffered the loss of over 39 branches. To show just how severe the decline, data has indicated that some counties have even less than 10 total branches, a severe lack of physical branches especially in more rural parts of Arizona.

Specifically, the numbers that have been calculated within 2016 indicate that approximately ten percent of the total number of bank offices in Arizona have closed down. Experts believe that the rise of smart phones and their subsequent apps have made physical bank-visiting nearly obsolete. Why drive down to the nearest branch for withdrawals or deposits when those features can be swiftly accomplished electronically through an ATM, smartphone, or laptop. 

And surprisingly enough, even though the number of branches has declined, the amount of deposits that occurred has increased. And though this is truly a great occurrence, the fact that banks no longer have to hire employees— thereby saving substantial costs in that area and investing those savings into their digital services is bit of a bitter-sweet thing. 

Ultimately, the convenience that these different banks are offering is what is causing the decline of the number of branches— not only in Arizona, but as seen throughout the rest of the United States of America. As these branches begin to reap the financial benefits of having fewer offices, rural areas all over the country will get hit the hardest. Especially those where Internet access is very limited or much too slow for electronic convenience to really shine through.