Selective network expansion can still make sense but banks must prepare as stimulus funds impact gets wrung out and reality returns.
Less-mobile consumers, new banking channels, changes in staffing models and growth factors that won't be repeated all bode ill for sales.
What prime opportunities would develop if the mega-online-retailer plops its own department stores on the edge of your market?
In spite of Covid's economic impact and the growing shift to digital banking channels, the industry has seen only modest erosion.
Weakness in any of these critical banking factors will make performance plummet. Find out what to fix first and revenues may improve.
Banks and credit unions should be adopting this human-ATM hybrid should be sure consumers won't walk right past them.
Why should you close that branch? Why open a new one? If you can't answer such questions, you haven't got a network strategy.
Banks and credit unions can't treat generational traits as the final word in how to serve consumers. Try looking at who heads the households.
Out of sight truly means out of mind for banks and credit unions, even as digital channels grow. Big bold labels still matter.
In fact, a bigger question is whether the banking business itself is actually ready for an industry that's branchless and completely remote.
The best way to slow inevitable attrition is to provide viable alternative channels like ATMs, ITMs, online and mobile long before cutting.
Fintechs and neobanks are the industry's new darlings, but banking is still defined by the rivalry between banks and credit unions.
Branch planners must take into account the potential of each element of an effort to dominate share in their institutions' key markets.
Branching advocates favor this blueprint as an affordable way to aggressively move a banking brand into a new market. Can it really work?
Banking has been in the mega-retailer's sights for decades, but branches of its new fintech partnership in stores may not be in the cards.
How much of what you know about branch trends is on target, and what's completely wrong? This new analysis of FDIC data will surprise you.
Financial marketers that find ways to cater to this segment's unique needs can find a fresh source of new business right under their nose.
With all the recent buzz about the demise of branches, it was easy to assume they were going to wither away. But that's not what FDIC says.
Safely shrinking for efficiency and cost control means paying as much attention when you dismantle the system as you did when building it.
It's tempting to stop building new branches, but with Millennials and Gen Z years from profitability, catering solely to them is a big blunder.
As the pandemic lingers on, banks and credit unions should put interactive video teller machines (ITMs) in their drive-through lanes.
Fewer people will visit branches but there is still demand for a great customer experience. This model is tailor-made for the post-COVID age.