Branching: Location…Location…Which Location?

Consumers love the branch, so how do you get the one you want? U.S. Consumers and the Branch. There is no denying that the number of branches in operation today is less than before the great recession. However, simply pointing out there are fewer branches is only part of the story. For example, when you […]

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Micro Branches | The Next Big Idea?

Enhancing your branch strategy with the most flexible of solutions – the micro branch. Branch density is the goal. Space to build is the challenge. What makes a financial institution’s branching strategy successful? Many experts point to density “more locations and brand”.  Agreed! However, what if the target community doesn’t have any suitably sized site options […]

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Building Relationships: the Heartbeat of the Universal Banker

Technology hasn’t just required an upgrade in equipment, but a shift in employee skill sets. As American as apple pie. Community based financial institutions (FI’s) are the heart and soul of America. These locally­ owned and operated institutions are woven into the fabric of the communities we live in, work in, raise our families and build […]

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Millennials and the Branch: Strange Bedfellows

How do financial institutions connect with Millennials? Answer: A marriage of Science and Art Earlier this year, shock waves were sent through the financial industry as study after study echoed the same message – Millennials highly value the branch. Though millennials and all consumers look digital-first for connection from their bank and credit union of […]

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Close my branch? That’s fine, I’ll Choose Another!

Consumers are deciding the value of the branch. When it comes to the longevity and value of branches, opinions really do vary. Depending on our own stories, experiences, communities and allegiances, the branch’s importance will ebb and flow. However, when we look at evidence, the opinions fade and the demands of consumers ring loud and clear. […]

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Business Case for Branching in a FinTech World

Business Case

Consumers strongly desire branches. Doing it well drives performance. Measuring is key for improvement.  In today’s consumer-centric world, change is constant. In fact, the only thing that doesn’t change is change. However, if we can quantify the change, then we can measure, and improve. If you build it, they may not come. The world of branch […]

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Return on Investment for Branching

Is the deck stacked against the physical branch? Priorities, priorities. A recent study released by the Financial Brand revealed the top priorities for financial institution (FI) marketers. In order of priority: 1) Increase Wallet Share, 2) Increase Loan Growth and 3) Acquire New Customers. Given the branch has historically been a dominant tool in the FI […]

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Branch Transformation and Safety…A Great Marriage!

Could the evolving role of the branch actually lead to fewer robberies? As we think about branch transformation, one of the overlooked benefits in the rush to design-build a customer or member-centric environment is safety.    The 2014 Bank Crime Statistics compiled by the FBI recorded 3,879 robberies of financial institutions in the U.S.  The breakdown […]

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Branch Transformation | An Omni­-Channel Experience

omni-channel

A new distribution network emerges…Omni-Channel Today’s financial services environment is characterized by change. The drivers of change include consumers, technology, and delivery systems. Moreover, financial institutions must change with these elements to remain relevant and competitive in today’s omni-channel economy. In addition, balancing service to younger and older segments and their preferences for how service is […]

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How are Branches Relevant?

The role of the branch has changed- and there’s no going back. Three articles crossed my desk recently that combine to tell an interesting story about branch banking. Each article conveys how retail branches are indeed relevant and point out some “musts” for community financial institutions (FIs). Customer Satisfaction scores are dropping First, Cornerstone Credit Union […]

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