An analysis of thousands of branches shows a staffing-traffic mismatch. But refining the universal banker role can lead to revolutionary results.
Beyond short-term cost cutting, it’s all about keeping customers, retaining sales of the closed branch and sustaining the savings.
As branch traffic dwindles and banks cut costs, some institutions are installing video tellers in their drive-up lanes.
It’s a given: Bank branches aren’t going away. But how will they stay? Here’s how smart digital services simplify customer experience and improve sales effectiveness.
As new banking technologies and demand for changing service models drive transformation at the branch, employee engagement can play a key role in optimizing sales and service delivery.
Retail banks must start preparing now for local branch sales in a digitally-eroded environment – and universal bankers are not the answer.
Merger and acquisition activity over the past decade has transformed large U.S. banks into increasingly dominant mega-banks and reduced the market share controlled by smaller ones, particularly in major urban areas.
Contrary to predictions of the demise of bank branches, three different branch models will thrive in the future: personalized experience upscale, self-directed technology and traditional.