Reading up on ATM
2 deep · digging since mar 11
- ATMs didn’t kill bank teller jobs, but the iPhone did
The iPhone and mobile banking, not ATMs, caused the steep decline in bank teller employment by reducing demand for physical branches.
- Why the ATM didn’t kill bank teller jobs, but the iPhone did
The ATM initially complemented bank tellers, increasing their numbers through Jevons effect, but the iPhone's mobile banking later replaced the branch paradigm, causing teller employment to collapse.