14 ‘Branch of the Future’ Designs
The proliferation of digital banking over the past several years has impacted traditional branch banking like never before. Survey after survey indicates a greater preference of banking online and through mobile devices as opposed to using a branch.
In fact, many of the comments made by the dozens of participants in the discussion revolved around simplicity of design, the removal of friction and the ability to improve the customer experience.
The core functions of the bank in future will be about anticipating the needs of the customer proactively and presenting simple and targeted offers using traditional and digital solutions. The branch of the future will be but one example of how the delivery of these solutions will be executed.
As seen in the examples to follow, technology, innovation and channel integration are playing a key role in the re-engineering and re-energizing of ‘tomorrow’s branch.’
1. If Google Was A Bank…
allen international shared with FX magazine their vision of what it might be like if Google ever ventured into financial services and opened a retail bank network.
The GoogleBank branch would be open and accessible to all – a gallery and learning center, combining virtual sales and promotion space into one. It would be staffed with experts who would guide the guest to smart decisions around financial well-being. The branch would be exciting and compelling to visit, with integrated channels for a seamless customer experience … showing how Google can be an ubiquitous part of a person’s daily life.
GoogleBank would be compelling because they would illustrate the power of understanding the customer … using what they know, building specific products and services to suit, willing to be open and willing to share. GoogleBank would become a conduit to facilitate interactions at the heart of all relationships. They would be always there, when and where their customers needed them. They would get the customer’s preferred distribution model right and would communicate effectively, making banking entertaining and compelling.
