Why are so many banks struggling to adapt quickly to the trends driving the need for massive transformation in their business? The pressures of dealing with increased competition, operating with limited budgets and the need to enhance capabilities in order to establish and maintain strong relationships with their customers are just a few contributing factors.
Wikipedia defines the term “the elephant in the room” as referring “to a question, problem, solution, or controversial issue which is obvious to everyone who knows about the situation, but which is deliberately ignored because to do otherwise would cause great embarrassment, or trigger arguments or is simply taboo.
As the traditional bank branch shrinks or even disappears in coming years, what becomes of branch staffing models? “The short answer is that everybody is making things work more efficiently and to improve engagement with the customer,” says David Hawkins, senior vice president and director of customer experience for Huntington Bancshares Inc.