The power of financial centers in today's fast paced environment

The ATM was first introduced by Bank of America nearly 50 years ago. It was far from an instant success. Only 300 adventurous customers tried it during the first year. However, banking customers quickly adapted and ATMs are now ubiquitous, with an estimated 3 million worldwide.

Today, consumers are embracing new banking technology and looking for digital and mobile tools for their everyday financial needs. In fact, the 2016 Bank of America Trends in Consumer Mobility Report found that nearly half (48 percent) of Americans are constantly checking their finances via mobile, including account balances and budgets, compared to only 28 percent that report frequently checking health-related items, such as steps and calories.

Yet, there is still an important role for brick-and-mortar institutions: customers want access to specialized expertise and technical resources to help them make more challenging financial decisions like buying a mortgage or developing a financial plan. This preference is reflected in our report, which found that conversing with a person is still the preferred approach for 38 percent as opposed to texting (29 percent) and calling (21 percent).

Clearly, consumers are looking for a balance of banking technology and human interaction. Moreover, they want all of these banking solutions - human and technology - available in a simple, straightforward way that is convenient and tailored to their needs. To meet this demand, the old-fashioned bank branch is now being replaced by a redesigned space where customers can find the services they need in an updated and polished setting.

Similar to the days when we introduced the first ATM, Bank of America is studying consumers closely and working to anticipate their banking technology needs.

One important step is rethinking how we interact with customers at our financial centers and implementing changes. What should banking customers expect today? Following are three key things to look for when choosing a bank in today's technology-driven environment.

Do you have access to technology that allows you to do straightforward banking tasks more conveniently? As the number of customers taking advantage of new mobile and online banking services reaches record levels, banks are developing quick, easy options to use digital and ATM solutions. The newest generation of ATMs is a great example. Customers can now use ATMs to withdraw cash in denominations of their choice, cash checks and make credit card payments. The latest innovation is the ability for customers to withdraw cash from ATMs without using a physical debit card. Instead, they can use a digital wallet on their phone that has been loaded with a debit card.

Can you access a wide range of financial services in one place? The new breed of financial centers provides additional space dedicated to assisting customers' individual financial needs. Does your bank offer in one convenient space everyday services as well as access to specialists such as mortgage loan officers and financial solution advisers? And are the services tailored to the local needs of the community? In some Bank of America centers we have a concentration of clients who have specific financial needs, like business banking, or who are entering a new stage in their life. In these cases, we have established new service areas inside our financial centers to meet local needs.

Can you experience new banking technology in a highly personalized way? Not all consumers are early adopters of new technology. They need a hand to help them make a change. Our dedicated space in our new financial centers allows customers to try out tools like the Merrill Edge Personal Retirement Benefit Calculator, IRA Selector Tool and College Planning Calculator.

Banking customers have come a long way since their initial negative reaction to the first ATMs. The old-fashioned bank branch is undergoing a similar transformation in the eyes of consumers.

Today's on-the-go banking customers are looking for a new generation of financial centers that offer a mix of state-of-the-art technology and specialized human expertise. It is this balance between digital banking offerings and reliable customer support that provides the financial expertise and convenience that customers demand.

• Ryan Larison is national small business sales and partnership executive, market integration executive for Chicago, at Bank of America.