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In case you missed it, American financial institution Capital One has entered the café industry: the bank just debuted its fifth coffee shop in New York at 1843 Broadway in Columbus Circle.
Before we get into the why, let's delve deeper into the what. According to Jennifer Windbeck, head of Capital One's retail bank channels and operations, there are now over 55 Capital One locations all over the nation, with more in the works set to debut in the upcoming few months (including one in Soho). You can browse through all of them right here.
"All of our café locations are open to everyone, whether they’re a Capital One customer or not, as part of our mission to empower people to feel more confident in their relationship with money," the representative said to Time Out New York.
When asked about the institution's decision to tackle a new business line—a fair question, if we may say so—Windbeck pointed to shifting behaviors among consumers. Specifically, "customers have come to prefer a balance between the ease and convenience of digital banking and the desire for in-person support when they need it."
As a result, each café is equipped with "self-service banking" options (basically, ATMs) that patrons can make use of while grabbing a cup of coffee or a quick bite, from sandwiches to flatbreads, pastries and an assortment of pre-made, packaged items available to-go.
Keep in mind that anyone is welcome inside the cafés—each one boasting free unlimited Wi-Fi and seating options—but Capital One cardholders will be the only ones to enjoy a 50% discount on all handcrafted beverages when paying with their Capital One debit or credit cards.
We have to be honest: the spaces look a bit dystopian to us, eerily reminiscent of the actual banks that they are undoubtedly modeled after but … who are we to judge, right?