Spanning areas from customer service to universal banking, these insights are crucial to branch transformation success.
Bankers need to employ technologies such as video collaboration and advanced analytics to help modernize their branch locations in a more digitized world.
As branch transaction activity shifts to alternative channels, the decision framework for branch consolidation needs to shift more solidly to sales.
Even in a digital age, banks still need contact centers to help customers with their digital needs, merger issues, security concerns and financial education.
A three step process for managing wait times in the branch can help reduce customer dissatisfaction.
Banks need to take a more professional approach when managing their branch networks in order to avoid overpaying when purchasing or leasing real estate.
As customers migrate to digital channels, bankers need to aggressively re-configure their branch networks in terms of the number and mix of facilities, the staffing provided and the role of the contact center.
Rather than cutting branches across the board to reduce expenses, community banks should reconfigure them with new staffing models.