Branch banking 2026: From robots in the lobby to personal tellers on campus

Three-D avatars. Machines armed with artificial intelligence. Robots, even. All of these, forecasters predict, will take over bank branches in the future. But it won’t be a hostile takeover, let alone one where humans are relegated to second-class status.   In fact, bank employees will see their roles expand, allowing increased flexibility to take services to customers in Read More

By |2020-05-27T17:59:50-05:00January 19th, 2017|Comments Off on Branch banking 2026: From robots in the lobby to personal tellers on campus

Coffee, tea or currency?

Amid the smoky aroma of fresh-roasted coffee and the sweet scent of pastries, Scott Maykis starts his morning routine by tapping into the free Wi-Fi at the Capital One Café on Chicago’s Gold Coast. But he’s not checking into the café-style branch bank for the money. He’s not even a customer. A management consultant who works nearby, Read More

By |2020-05-27T18:00:02-05:00December 12th, 2016|Comments Off on Coffee, tea or currency?

Mobilizing the mobile future of branch banking: Self-service technology

Through this scenario, consider the impact technology is having on how consumers navigate something as routine as their daily lunch hour: Before an executive even leaves her office, she preorders and pays for her favorite meal at a nearby quick-service restaurant via her mobile device—and bypasses the line to pick up her already prepared food. Before driving Read More

By |2020-05-27T18:00:04-05:00November 15th, 2016|Comments Off on Mobilizing the mobile future of branch banking: Self-service technology

Another view of bank branch closings: When short-term gain equals long-term pain

The recent article in Banking Strategies Online, "Three things you must consider when closing branches," (Oct. 10) omitted a key consideration: namely, how to preserve the personal relationships that developed between staff and customers at the closed branch. Banking customers can be divided into three broad groups—Millennials, small business and commercial customers, and those of us retail Read More

By |2020-05-27T18:00:05-05:00October 25th, 2016|Comments Off on Another view of bank branch closings: When short-term gain equals long-term pain

Bank to the future: Experts look ahead to 2026

Just what will bank branches look like 10 years down the line? They’ll look smaller, for starters – and feature self-service machines to work transactions that free up staff. That way, bank employees can give more financial advice to customers on even basic literacy topics. But to abuse a cliché, the bucks will hardly stop there. Those Read More

By |2020-05-27T18:00:05-05:00October 14th, 2016|Comments Off on Bank to the future: Experts look ahead to 2026

Changing branches in a digital age

There is no doubt that bank customers of all ages and incomes are moving to digital channels to conduct financial transactions. Use of mobile banking applications to check balances, transfer funds, pay bills and even deposit checks is growing rapidly. Furthermore, more customers are going online to open accounts and apply for loans. But does that mean Read More

By |2020-05-27T18:00:05-05:00October 14th, 2016|Comments Off on Changing branches in a digital age

Three key things you must consider when closing branches

It seems like every week you hear about another bank’s plans to close some large number of branches. Some analysts predict (though I don’t agree) that half of all branches open today will close in the next few decades as online and mobile banking fully takes hold with consumers and small businesses. Due to today’s very low Read More

By |2020-05-27T18:00:05-05:00October 10th, 2016|Comments Off on Three key things you must consider when closing branches

Goodbye vacuum tube, hello data tube

It has been a common banking practice across the U.S. and Canada for decades; customers conduct transactions from their cars outside of brick and mortar branches via a clear plastic cylinder sucked from auto to teller via a vacuum tube. But while this low- tech method of banking is customer friendly, it requires one or more tellers Read More

By |2020-05-27T18:00:06-05:00September 14th, 2016|Comments Off on Goodbye vacuum tube, hello data tube

Three strategies to transform bank branches

I’ve read many articles about the death of bank branches since I started in the industry more than 30 years ago. Since then, my position hasn’t wavered much: Bank branches aren’t going away—but they must change. Why? Three reasons: For most banks, branch networks are the first or second largest expense category. Most banks have seen human-based Read More

By |2020-05-27T18:00:06-05:00September 12th, 2016|Comments Off on Three strategies to transform bank branches

The transformation of the retail branch with workforce management

How will retail banking’s changing service model define the branch of the future? With adoption of online and mobile banking on the rise, customers are visiting branches less frequently. But when they do, they’re looking to conduct high value transactions that require more personalized service. Results of a 2014 GenPact and YouGov online survey confirm this trend, indicating that younger bank customers are migrating Read More

By |2020-05-27T18:00:07-05:00August 15th, 2016|Comments Off on The transformation of the retail branch with workforce management