An analysis of thousands of branches shows a staffing-traffic mismatch. But refining the universal banker role can lead to revolutionary results.
While digital banking attracts the most affluent and financially confident customers, there will always be a role for the physical branch.
Effective sales management in branches should include coaching and mentoring, sales support, appropriate technology, accountability and rewards.
Branch staffing decisions should be based on markets, customers and local sales dynamics, not spreadsheet averages driven by operating results.
Low-volume branches can depress institutional profitability unless management takes proactive steps to minimize their impact.
Bankers have been warned for decades that their core systems are obsolete, a view that is reinforced if you envision how a bank would look like today if built from scratch.
Improving sales and service performance in branches requires solving three challenges of staff capacity optimization: inefficient systems, unreliable data and outdated analytics.
Banks struggling to improve the efficiency of their branches should take a close look at the amount of time customers have to wait for service.