Reports from banking's front lines as branches reopen paint a different picture from the usual predictions about consumer banking behavior.
Bank Branch Transformation
Articles about bank and credit union branch design, architecture, interior design, branch merchandising, ATMs, video tellers, interactive teller machines, branch technologies, and retail branch experience strategies in banking.
Popular Articles within Bank Branch Transformation:
Worries about handling cash remain, not least among bank and credit union teller staff. An underused technology could ease the concerns.
Branch banking has become the channel of last resort. Here's what banks and credit unions must do now in digital to effectively compete.
Obvious retail bank savings will evaporate and leave your financial institution weaker if you don't prepare with consumer retention in mind.
Social distancing zones, plexiglass barriers and queuing software among public expectations. But the unseen is also important.
The coronavirus has sharply altered consumer banking habits forcing financial institutions to rethink the future of the in-person channel.
Traditional banks and credit unions, thrust into a nearly branchless role by coronavirus shutdowns, can learn from new J.D. Power research.
Banking is essential, but going to a branch should not be. Even before COVID-19, digital account opening was climbing. Now it's a must.
Appointment scheduling apps have come into their own as banks and credit unions seek to manage limited branch visits during COVID-19 crisis.
As cities are shut down due to the coronavirus, the banking industry must help consumers do all of their banking from their home.
Optimization has sharply shifted from staff and branch reductions to revenue growth using universal tellers and smart-branch technology.
Branch reduction is driven mainly by large banks. Others open almost as many as they close. All are striving for digitally focused branches.
Banking dilemma: In-person visits are down, yet people still value branches. Is more technology the answer? Or re-trained employees? Or both?
Shift is powered by Millennials' love of interactive mobile banking tools. Biggest banks have clear edge over regionals, consumer study shows.
Shuttering financial institution branches may please CFOs but banking concerns much more than cost control. A PR misstep may cost plenty.
The latest thinking on consumer banking delivery decisions from branching to mobile to Google checking from Chase, Bank of America and Citi.
Digital banking keeps making strides but research demonstrates that staffed financial institution branches make a difference to communities.
Novantas' Kevin Travis says if a legacy bank or credit union wants to compete with fintechs and digital-first provdiers, they need new systems, processes and a new culture. Does that include a branchless strategy? It might.
Consumers love mobile banking, but still need cash. Banks and credit unions have options to meet that need in a way that builds brand.
Digital banking is affecting in-person banking faster than expected. Branches are still sales drivers for now, but decisive action is needed.
Evolving underused branches into places where financial stress is relieved would put banks and credit unions back on the community map.
Mobile all the time isn't what every consumer wants. Face-to-face interaction, backed by digital, helps differentiate traditional providers.