Banking’s Worst Great Idea: The Universal Banker
By EJ Kritz, Chief Experience Officer at DBSI
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Executive Summary
- As retail banking has evolved, many institutions embraced the concept of universal bankers who could handle the full range of customers’ needs, in person and on demand.
- But the promise of the universal banker has proven to be elusive to achieve in practice, with many institutions now reverting to specialized roles.
- The success of universal and advisory bankers often hinges less on professional experience, and more on attitude, personality, and a desire to learn.
“When done well, a universal approach to client needs creates a more seamless experience and allows bankers to truly understand [the clients’] needs,” says Leslie Higgison, SVP of Retail Physical Channels at Comerica.
Before I jump on the soap box about banking’s worst great idea, let’s visit on the phrase “when done well.” While writing this article, I spoke with a half-dozen banking executives about the concept of the universal banker and without fail, the phrase “when done well” popped up early and often.
“When done well, the economics make sense and the customer service level rises,” shared Mark Beausoleil, EVP and Director of Retail Banking at the fast-growing Valley Bank.
To uncover the true power of the universal banker, we must follow first its history and acknowledge that the universal banker concept is far from novel. There was a time, a hundred years ago (if not more), when every banker was just that: A banker. This was the person you went to when it was time to save, borrow, and sometimes even beg for help. The banker was a noble profession (it still is, but that’s a different conversation for a different day), one that was afforded the same level of respect as an attorney, doctor, and even politician.
And then something happened: The move from advisory to transactional. Turn and burn. Rope lines. 15 tellers on staff at any given time. Cold. Impersonal.
The Wrinkles in the Role
Slowly, the retail banking experience has been returning to center of the industry conversation — and yet, for some reason, the word “universal” was thrown into the mix. A word that confused customers and perhaps worse, confused employees, many of whom were long-time tellers who suddenly were being asked to do something outside of their comfort zone.
Just as water finds its own level, the concept of the universal banker is now quietly being adjusted from institution to institution.
Folks at Massachusetts-based Webster Five would consider themselves to be early adopters to the new age of universal bankers and yet they acknowledge there has been a pronounced shift in focus. Brian McEvoy, Chief Retail Banking Officer, explains: “Since 2011, the biggest change is that we have shifted from thinking about universal bankers as ‘universal universals’ to ‘universal specialists.’ Everyone is cross-trained on the basics, but everyone also has dedicated responsibilities.”
Meanwhile, Valley Bank’s Beausoleil shares that “the universal banker role has become less and less transactional and far more advisory, with universal bankers seeking to understand client’s financial goals and opportunities.”
Within most models it seems, financial institutions have now recognized that not all bankers are created equally and there remains a need for bankers with interests in foundational tasks (example, traditional tellers) versus progressing to more advanced tasks such as deep advisory conversations.
Ledyard Bank from New Hampshire has recognized this and pivoted to a highly specific model of “certification” for a banker to advance to the next level of growth.
“We have three levels of bankers – Associate, Personal, and Senior. We no longer have the role of teller, but Associate Bankers are entry level. We have very specific guidelines for the career path between each of these roles, and each carries different levels of authority and responsibilities,” shared Ledyard President & CEO, Josephine Moran.
Two critical pieces that Ledyard has recognized: Not everyone has to advance and that financial institutions still need some employees focused on flawless execution of the basics. “Not everyone moves (on) from an Associate Banker… They have to have the skillset to move to the next level,” shared Moran.
Be Curious
At the 2025 Financial Brand Forum, I delivered a talk entitled “Digital + Human: Delivery Strategies for the Next-Gen Branch Experience”. I pinpointed Human Resources as the critical missing partner in creating a meaningful and modern branch experience. I shared a teller job description which, at best, could have been written in 1982 and juxtaposed it against a job description for a similarly foundational role at fashion retailer Lululemon.
The difference was stunning and highlighted the need to reconsider not the qualifications of bankers, but rather the behavioral makeup of the person being hired. While many banking job descriptions focus on technical skills and experience, I encourage organizations to think instead about the behavioral traits which would make an ideal banker.
As I speak to banking executives about the concept of the universal banker, one word came up often:
Curiosity.
“Capability, curiosity, and customer centricity,” are three key components for Valley according to Beausoleil who went on to share, “The banker needs to be curious about our business and consumer clients. It’s not about making a sale, it’s about solving a customer’s financial problem or concern and enriching the lives of those we serve.”
McEvoy doubles-down on the idea, sharing that there are two essential qualities he looks for in a successful modern banker, “An unquenchable sense of curiosity and the ability to thrive in ambiguous environments,” going on to add, “They need to be able to ask a lot of questions and be resourceful in getting information. For ambiguity, the role can be different day-to-day. The ability to pivot and thrive in different environments is essential.”
“Attitude, personality, and a desire to learn,” are key at Ledyard, according to Moran, who also shared that bankers need to have a “desire to really assist the client and make their life better.”
The key takeaway? Few of these traits can be trained. Just as job descriptions must evolve to attract the candidate that is a strong behavioral fit, so too must the overall interview experience, focusing less on what the candidate did at a previous financial institution and shifting the mindset to one where it’s irrelevant whether they have previous banking experience at all.
The Impact on Branch Design
A 2025 Gallup poll found that while 85% of U.S. consumers say they’re looking for financial information, only 32% of them turn to traditional banks or credit unions for advice. While the shift in focus among banks from transactional to advisory experiences has pushed staffing towards the universal model, branch design and transformation has been slower to come along.
By leaving traditional teller lines in place or by installing generic pods without much attention paid to branch choreography, customer experience has suffered while employees who were formerly tellers struggle to find themselves within a stale branch environment.
Beyond a branch that feels “clunky,” designs that do not support the in-place staffing model causes further customer confusion. “Sometimes, without explanation, a client can perceive a banker behind the ‘teller line’ as transactional and might underestimate their advisory capability,” said Beausoleil.
By forcing wide-spread adoption of a universal model without an accompanying branch transformation, employees are given every opportunity to stay with the “old way” and continue to perform their former in-branch responsibilities.
To deliver the universal banker model with modern branch design, all aspects of the experience must be considered. Millwork, flooring, technology, digital signage, and even employee training and preparedness are all as important (if not more) than the floorplan design itself.
“Branch design should incorporate people, technology, and facilities elements to create the ideal environment for the bank’s market. If you have universal bankers, it absolutely impacts design… untethering the banker from one specific workstation and enabling them to flow seamlessly through the space is crucial to the model working,” according to McEvoy.
The Right Thing to Do
The concept of a banker who can “do everything” while still having specialized skills is the solution for the modern banking experience today’s consumer craves. Successful execution of the model hinges on smart hiring practices, innovative design solutions, and tech integration.
Financial Institutions need to step back from mistakes of the past which have made the phrase “universal banker” so problematic. Forcing a career teller into an advisory banker role is unfair to everyone involved and works against successful execution of the model. Does this cause potentially difficult decisions on what to do with legacy employees? Yes. Is the shift to an adaptive staffing model and branch design still the right solution in most cases? Also, yes.
As Higgison argues, “Ultimately, it’s about being completely focused on what your bank’s customer expects and needs (while) building a model that most effectively delivers on the promises you make.”
