Repurposing the branch

An abandoned machine shop becomes a brew pub. An old train station gets a second life as an Internet café. Shipping containers are converted into cozy tiny houses and stacked to create eye-catching office buildings. Call it creative repurposing. Call it adaptive reuse. Call it recognizing consumers’ changing preferences and responding with engaging solutions. In the same Read More

By |2020-05-27T18:00:15-05:00January 22nd, 2016|Comments Off on Repurposing the branch

Six core competencies for a new retail bank

With the onset of competitors seeking to carve out market share in virtually every line of business within retail banking, traditional banks need to consider both long-term strategies and short-term adaptations. For a long-term strategy, we suggest that banks transform how the customer thinks about a retail bank. Such institutions must focus on a broad range of Read More

By |2020-05-27T18:00:15-05:00January 20th, 2016|Comments Off on Six core competencies for a new retail bank

Top ten trends for banks in 2016

2016 is looking to be one of the most transformative years in financial services in decades. Disruptive competitors are growing, digital and mobile continues to evolve, branches look more and more like Apple stores and interest rates have started rising. Banks will need to embrace smart innovation not only to keep up, but to truly differentiate themselves Read More

By |2020-05-27T18:00:15-05:00January 8th, 2016|Comments Off on Top ten trends for banks in 2016

From traditional to experiential branch

While digital transactions have taken a bite out of walk-in traffic, the brick-and-mortar branch is far from obsolete. Forward-looking financial institutions are using new technology and smart renovations to transform the traditional branch into a unique environment that differentiates their organization from the next. Rather than offering the same transactions cus­tomers can access on their tablet or Read More

By |2020-05-27T18:00:15-05:00December 23rd, 2015|Comments Off on From traditional to experiential branch

The no-nonsense branch of the future

The branch that once captured 100% of all transactions now only represents 10% of transactions and has been impacted by various industry trends and fads. In the 1990s, it was the imminent demise of the branch with the advent of the internet, driving many banks to set up separate online banking operations, which later had to close Read More

By |2020-05-27T18:00:16-05:00December 14th, 2015|Comments Off on The no-nonsense branch of the future

Three steps to transforming the branch digitally

With increasing adoption of digital and mobile channels, along with changing customer preferences, branch banking is undergoing a tremendous shift towards self-service banking. The dilemma for bankers is: how can they service their customers better while they reduce their footprints both in terms of physical location and the number of touch points inside the branch? As bankers Read More

By |2020-05-27T18:00:16-05:00December 8th, 2015|Comments Off on Three steps to transforming the branch digitally

Mobile-first banking for branch employees

The average bank branch is 25 years old, designed for a different era, and in-branch foot traffic is proving to be on a steady decline. As the channel evolves, bankers have gone through a long list of updates in order to maintain relevancy and efficiency. Ironically, it’s digital solutions that offer a universal key to a successful Read More

By |2020-05-27T18:00:16-05:00December 7th, 2015|Comments Off on Mobile-first banking for branch employees

Five ways to make cross-sell more effective

It's common knowledge that it’s easier and cheaper to sell to existing customers than to attract new ones. However, according to studies that I conducted at two major banking institutions, many cross-sell efforts result in little or no improvement in customer profitability. There are two primary reasons for this. First, most banks do not have an effective Read More

By |2020-05-27T18:00:16-05:00December 1st, 2015|Comments Off on Five ways to make cross-sell more effective

Improving branch effectiveness in a digitized world

The digitization of retail banking has changed consumer expectations in terms of their relationships with their bank and preferred channels for conducting banking transactions. Many consumers today primarily manage their accounts online or through their mobile device. Nearly a third of consumers report never visiting a bank branch in the last six months; 58% of those under Read More

By |2020-05-27T18:00:16-05:00November 24th, 2015|Comments Off on Improving branch effectiveness in a digitized world

Building the sales justified branch network

Stretching back to the 1980s, a key worry with branch consolidation has been customer attrition, or the risk that accountholders will take their business elsewhere if their anchor local branch is closed or merged with another location. This concern has robbed flexibility in rationalizing and repositioning networks, given that each branch closure could potentially disturb customer relationships Read More

By |2020-05-27T18:00:16-05:00November 20th, 2015|Comments Off on Building the sales justified branch network