Why American banks need adaptable office space

August 3, 2018 Sanjana Saluja

Banks are hiring more and more tech workers now, but some of those positions may soon be automated. JLL Real Views explores what it means for their corporate real estate needs.

Banks have been scurrying to get with the digital age – creating apps that allow friends and family to send each other money in milliseconds and deposit checks remotely.

Bank’s hiring practices have followed the same trajectory. Tech-related jobs now take up 43 percent of the industry, according to JLL’s report on Financial Services Operations Centers.

Information technology (IT) positions such as software engineering and cloud development are expected to expand in the short term, JLL forecasts, with the amount of “back office” space that banks lease growing along with it. However, these jobs may begin to contract within ten years, when automation transforms the banking industry, says Christian Beaudoin, Senior Director of Research at JLL.

Click here to find out how banks can plan ahead.

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