As it turns out – with apologies to Mark Twain – the reports of the death of the physical bank branch may have been exaggerated.

On one side of the coin is a recent survey from financial institution consultant Kasisto, which finds that there are a number of unmet consumer needs in mobile banking applications (separate from online banking options). The survey, conducted by Wharton MBA students, concludes that “mobile banking is frequently used, but primarily to perform basic and rudimentary tasks, such as checking balances and depositing checks.”

When the question becomes more complicated – when customers are disputing transactions or looking for information about products – they are far more likely to use other methods, including call centers, online banking and physical bank branches.

“We were surprised to discover how underutilized the mobile banking channel remains today,” Abhay Nayak, a recent Wharton MBA graduate and Wharton FinTech member who conducted the survey, said in a statement. “Consumers, especially younger generations, increasingly use mobile banking apps for simple, daily tasks. To us, the results clearly indicate that a better and richer mobile banking experience is needed to support complex-use cases.”

On the flip side comes a study released by ORC International, which shows that “even as new technologies and mobile applications continue to streamline banking and payments, 88 percent of American adults feel they still need a physical branch location to go to for banking needs.”

Moreover, the study finds that a majority of those surveyed – 84 percent – said they think brick-and-mortar branches will still be necessary five years from now.

The reasons why customers visit banks include:

• A teller in the lobby (68 percent)
• ATM (51 percent)
• Drive-up window (51 percent)
• Bankers with whom to discuss special options (31 percent)

Consumers surveyed said they think they’ll need banks in the future; 84 percent want access to a live person to discuss banking needs now, and the same percentage expect to want the same service in 2020.

It is rather a chicken-and-egg situation; perhaps customers are more likely to visit physical branch locations because a mobile app is not a rich enough environment to meet their needs. Or perhaps there really is no substitute for decent customer service.

Either way, there’s no stopping the technological juggernaut – mobile banking will continue to grow in popularity and sophistication, and, no doubt, the physical bank branch will continue to shrink in square footage, though possibly not in pervasiveness.

As customer profiles change, so too will their suit of banking needs, and it will require a careful, nimble balance from financial institutions to meet those needs, both electronically and in person.