High Tech Banking

February 21, 2014 Updated Feb 21, 2014 at 10:13 AM EDT

By Elizabeth Carey

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February 21, 2014 Updated Feb 21, 2014 at 10:13 AM EDT


The way you do banking is about to change. That's the focus of the cover story in today's Business First, which shows how Western New York banks are branching out. It shows how a plunge in traffic and a burst of new technology are forcing area banks to reinvent their branch networks.

This will impact the way you do banking, according to the report. Bank offices are recreating themselves as full-fledged financial centers that get customers what they want faster. So think fewer teller lines, more super-bankers, less space, more screens and more machines.

This is already the trend at the largest banks in the country, but now even the smallest banks are getting in on it.

Area apartments are putting up no vacancy signs. A report in today's Business First says Buffalo has one of the lowest vacancy rates in the country. Average rental rates here are 44 percent below the U.S. average. At the end of last year, Buffalo had a 2.7 percent apartment vacancy rate. A one-bedroom was going for about $785. Nationally, the vacancy is 4.1 percent, with the one bedroom price at $1,131.

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