An analysis of thousands of branches shows a staffing-traffic mismatch. But refining the universal banker role can lead to revolutionary results.
While universal associates can play an important role in boosting branch profitability, managers should be judicious in deciding where to utilize them.
Yes, leadership is key to a bank’s success, but so is the internal culture and methodology for handling day-to-day issues in a consistent manner.
With customer transactions in branches declining, banks need to reboot their branch design and strategy to focus more on service.
Online shopping and branch sales are now joined at the hip, yet most banks are not yet measuring the day-to-day effectiveness of digital in driving shoppers into the store.
Developing and executing a multichannel strategy requires foundational data to ensure that the strategy aligns with channel capabilities, customer preferences and the bank’s overall strategy and brand promise.
Centralizing cash management procedures enables bank branches to better meet customer demand and improve their sales culture.
Draconian reductions in branch networks are not necessary for banks that shift to smaller, more efficient platforms for meeting customer needs.