Since the turn of the century, many in the financial industry wrestled with what future role — if any — branches might have. The big question: Will mobile and digital services kill the brick-and-mortar channel? But anyone in the banking world who pretends they know for certain whether branches will or won’t be relevant in another 10-20 years is purely speculating.
Most financial institutions concede that there is indeed a continuing need to have a physical presence, so they innovate and play with branches, experimenting with various sizes and forms. Some contemporary banking providers like ING Direct (now Capital One) made the radical decision to entirely eliminate transactions from their branches, turning them into pure cafés. Such concepts were far and few between, and those that tried them were often ridiculed.
That was then. This is now. Today, more and more financial institutions are turning their locations into lounges and cafés. While Starbucks has widely been credited with inventing the concept of the “third place” — a comfortable space between work and home where people can meet up and hang out — retail banking providers have been adopting this strategy at a furious pace. Take a look below and see for yourself.
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CaixaBank – imaginCafé
imaginCafé in Barcelona is intended to support CaixaBank’s imaginBank brand, the mobile-only spinoff created specifically for young people. The idea behind imaginCafé is to create a platform for online and offline content that is open to user participation and offers an extensive range of activities of interest to young people.
imaginCafé will host a wide range of events and promote initiatives targeting “young creators”, specifically those related working in technology, music and similar creative industries. Among the planned activities, there will be concerts, live shows, gaming sessions, DJ performances, cinema screenings, video art shows, exhibitions, presentations, and lectures.
The space will be open to anyone interested in the events, although there will be exclusive activities for imaginBank customers, as well as premium content and a variety of benefits and discounts.
ImaginCafé is divided into three floors, with specific zones for food and drink, exhibition spaces, giant screens for A/V exhibits, special areas for workshops and interactive training sessions, along with an auditorium that can accommodate up to 250 people.
The café will be open every day of the week. The timetable will be Sunday to Wednesday from 8 a.m. to 10 p.m., and Thursday to Saturday from 8 a.m. through to midnight.
Design Firm: Crece
Read More: 10 Branches Designed To Wow The Digital Banking Consumer
Virgin Money Lounge – Cardiff
Virgin Money has opened its eight lounge in the UK, this one in Cardiff. As with all the other lounges they’ve opened, this one really isn’t about transactions. It’s a place where people can relax, unwind and hang out — a perk for customers and a branding opportunity for the wider community. Whether you have a Virgin Money account or not, you can pop in for free refreshments including tea, coffee, soft drinks and the biscuits. There’s meeting space that can be reserved — free to civic organizations and other non-profits.
The first few photos are specifically of the new Cardiff location, but we just had to include some shots from the Virgin Money Lounges because they are simply gorgeous.
DBS – Tech Lifestyle Space
In its continued journey to reimagine banking, DBS has launched a lifestyle space for the tech generation. Designed with a “café + branch” concept, the new branch at Plaza Singapura features an open layout and relaxed atmosphere. Customers are welcomed by the aroma of freshly brewed coffee, courtesy of the “Bettr Barista” espresso café.
With the tech generation in mind, the location delivers a highly digital experience, featuring an industry-first VR corner for retirement planning. Customers can also
make cash deposits and withdrawals using advanced ATMs with video teller capabilities. Pepper, the humanoid robot, is also on hand to guide customers on how to use the machines.
Design Firm: DE Exclusive Interior Group
Read More: 14 More Breakthrough Branch Designs From Banks & Credit Unions
Umpqua Bank – South Waterfront (Portland)
No branch showcase published by The Financial Brand would be complete without including something from the esteemed Umpqua Bank — arguably the world’s foremost retailers in the financial world. Enjoy!
Design Firm: Ditroën
Union Bank – The Ark
Integrating technologies like touch screens, video walls and augmented reality, Union Bank’s “The Ark” concept is intended to create an “interactional experience” rather than a transactional space. Not many bank branches are so cool that they bother to make an interactive virtual tour.
Among the many features you’ll find inside “The Ark” is a “Virtual Reality Showroom,” where potential car buyers can experience premium cars in a unique way using VR.
The Ark was awarded the prestigious ‘Best Customer Experience in a Retail Branch’ at the Customer Experiences in Financial Services Summit 2018 in Singapore. Union Bank has announced plans to open at least another 30 locations similar to this one.
Design Firm: Bonsey Design
Read More: Branch Showcase: 12 Concept Designs From Around The World
Halifax – Oxford Flagship Branch
Shirking the trend towards smaller branches, this location is a massive 13,500 square feet. The branch employs over 50 colleagues and is open seven days a week.
There’s a home lending hub, a travel zone, a kids savings zone, and a café/kitchen upstairs where the bank hosts free events and financial seminars. The home hub helps customers with all aspects of the mortgage process. In the travel zone, customers can order and exchange over 50 currencies and get advice on saving for their next trip or how to pay for things while they are away.
The branch is a comfortable and relaxed space open to everyone. Customers and non- customers alike are encouraged to take their time and explore at their leisure.
Design Firm: The Honest Brand
Banco Galicia – Branch Network
Banco Galicia is one of the largest banks in Argentina. Their new branch design incorporates multi-functional spaces such as lounges and community tables for informal meetings, all within an open floor plan equipped with a modular self-service stations, tablets and free Wi-Fi areas. Open lounges update the old branch model for a new client experience, migrating from traditional office desks to flexible working and training spaces, as well as co-working stations.
Design Firm: Total Tool
Read More: Beer and Banking? O Bee Credit Union’s Unique Brewpub Branch Experience
Sparkasse Bank – Boutique Branch
This clean and modern branch concept uses the bank’s brand color strategically, with splashes of red tying the whole experience together into one unified environment. Perhaps the branch’s most notable feature is the ultra-slick merchandising system, which gives the location a distinctly retail feel. At first glance you can’t tell this isn’t an outlet for a telecommunications company.
Design Firm: Dinn!
UBI Banca
The design palette for this branch draws on a combination of soft hues, frosted glass and a smart use of light (both natural and illuminated) to create a space that feels fresh, contemporary and airy.
Design Firm: Il Prisma Retail
Read More: Retail Banking Branch Design Showcase – Over 75+ Photos
Islandsbanki
This Icelandic bank wanted a high-touch environment that emphasized relationship management and the level of service they aspired to deliver. The design is built upon three distinctive, interlinked zones: the “Quick Serve” zone near the front, the “Community Lounge” in the heart of the branch, and the “Engage and Advise” zone for more consultative engagements.
Design Firm: Allen International
Park City Credit Union – Merrill Branch
Typically, only the employees who work at a financial institution’s headquarters facility get to enjoy perks like an employee gym, locker rooms with showers, and fancy break rooms. But Park City Credit Union believes that positive staff experiences translate into positive member experiences, so they extended these amenities to branch staff.
And rather than bake a café right into their branch experience, Park City chose to lease space within the branch to a local coffee shop to bring additional amenities.
Design Firm: LaMacchia Group
Read More: This ‘Money Lounge’ Is Unlike Any Bank Branch You’ve Ever Seen
Raiffeisen Bank – Green and Growing Walls
Executives from design firm I-AM interviewed Raiffeisen customers in four cities across Croatia to uncover their lifestyle and banking habits. Based on the conclusions drawn from their research, they created a branch concept designed around the idea of “My Place” — a setting that puts “customers first and at the heart of the experience, allowing them to remain in control and to enjoy better relationships with staff in a more honest and open environment.”
Design Firm: I-AM
BNZ – Branch Network
BNZ has embraced a flexible yet uniquely identifiable design across all of their branches. They provide a good mix of formats that accommodate a range of service needs and situations — from casual stand-up areas and self-service stations to semi-private cubbies and fully-private meeting spaces.
Design Firms: Warren & Mahoney and Vada
Bank of Georgia
This branch isn’t located in the American south. It’s in Georgia… the country that was once part of the Soviet Union. If this branch proves anything, it’s that banking doesn’t have to be dull. It can be bright, colorful and even have a sense of design that’s fun. If former communist countries can make banking suck less by incorporating a more contemporary, retail vibe anyone can.
Design Firm: Dinn!
