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No Universal Rollout for Universal Associates

With the continued accelerated adoption of non-branch channels such as mobile and the web, banks are facing the fact that branch traffic may not uptick anytime soon, if ever. This reduction in traffic not only results in lower transaction volumes but also reduces opportunities for selling – and the customer engagement that fosters account-holder loyalty. In such Read More

By |2020-05-27T18:00:42-05:00July 11th, 2014|Comments Off on No Universal Rollout for Universal Associates

Omnichannel Solutions to Increase Wallet Share

Faced with a slow-growth environment, today’s banks are focused on finding more efficient methods of increasing wallet share while continuing to increase customer satisfaction. The evolving bank customer wants to complete both mundane and complex transactions in an automated fashion, while still valuing personal interactions that enrich their overall experience and financial knowledge. Innovative banks are now Read More

By |2020-05-27T18:00:42-05:00June 20th, 2014|Comments Off on Omnichannel Solutions to Increase Wallet Share

The Omnipotential of Omnichannel Banking

It’s almost a sad commentary on our times that “omnichannel banking” already sounds like a cliché. At the very least, it has the whiff of a potentially interesting trend that, like so many other potential game-changers, has come and gone. That’s categorically not the case. In fact, omnichannel banking is only just taking hold. In this digital Read More

By |2020-05-27T18:00:42-05:00June 4th, 2014|Comments Off on The Omnipotential of Omnichannel Banking

Rebooting the Traditional Branch Network

With an increasing number of customers, particularly Millennials, opting to bank online or via their smartphones and tablets, the purpose of today’s branch is less centered on transactions and more focused on customer service and sales of additional products and services. Accordingly, the design and strategy of the traditional branch network may need a reboot. The footprint Read More

By |2020-05-27T18:00:43-05:00June 2nd, 2014|Comments Off on Rebooting the Traditional Branch Network

Harnessing Digital for Branch Sales

What is the fastest-growing influence on household acquisition and deposit sales in the branch? Without a doubt it is the online experience for web-oriented shoppers. Yet few banks have formal programs to harness digital banking for branch sales. Most players assume the online space is a separate sales domain. Online teams are measured by success in completing Read More

By |2020-05-27T18:00:43-05:00May 23rd, 2014|Comments Off on Harnessing Digital for Branch Sales

Centralizing Cash Management for Branches

The prognosticators in our industry have anticipated the decline of both brick-and-mortar branches and consumers’ use of cash for some time, but the reality of today’s market paints a very different picture. In fact, cash levels are on the rise. While the percentage of cash is lower than it was a decade ago, according to McKinsey & Read More

By |2020-05-27T18:00:44-05:00March 25th, 2014|Comments Off on Centralizing Cash Management for Branches

The Smaller, More Profitable Branch of the Future

With branch transaction volumes continuing to decline, banks are exploring their options regarding their branches’ futures. Numerous studies have indicated that customers prefer to have access to branches when they want them, but with that need being much less frequent, what are banks to do? It doesn’t help that some experts say branches must be downsized, while Read More

By |2020-05-27T18:00:44-05:00March 14th, 2014|Comments Off on The Smaller, More Profitable Branch of the Future

Two Visions of the Branch of the Future

Few topics in banking inspire as much commentary as branch-of-the-future concepts, since it’s now generally accepted in the industry that today’s branch model is fated to go the way of the typewriter after the word processor made its debut. Everyone, it seems, has an opinion on what that future branch should look like. Some clues to that Read More

By |2020-05-27T18:00:44-05:00February 21st, 2014|Comments Off on Two Visions of the Branch of the Future

Accelerating the Efficiency Engine

A new year is time for new resolutions. And for many banks, that means resolving to make their operations run leaner and better, at less expense. But that’s easier said than done, as many banks this year have struggled with efficiency ratios in the face of slow revenues. Case in point: The efficiency ratio at 230 banks Read More

By |2020-05-27T18:00:45-05:00February 4th, 2014|Comments Off on Accelerating the Efficiency Engine

Finding Opportunity in Declining Branch Volumes

With average branch monthly teller transaction volume for financial institutions (FIs) declining more than 45% in the past 20 years, according to FMSI’s annual Teller Line Study, banks are challenged more than ever to keep their branches profitable. Fortunately for banks with resourceful management, branch volumes and branch profitability do not have to go down in lockstep Read More

By |2020-05-27T18:00:45-05:00January 13th, 2014|Comments Off on Finding Opportunity in Declining Branch Volumes

Creating the Branch of the Future, Today

Robust digital channel adoption and rapidly changing consumer behavior have made the branch as we know it today irrelevant to many of us. The problem (or rather opportunity) is that branches still account for the majority of all new banking relationships and accounts. Why? Because customers still want a personal relationship with their financial institution. Dismiss all Read More

By |2020-05-27T18:00:59-05:00January 10th, 2014|Comments Off on Creating the Branch of the Future, Today

How to Manage the Decline of the Teller Job

What do bank tellers, toll booth attendants and mail carriers have in common? Each group has provided decades of specialized manual service, yet is being overtaken by technology alternatives and changing customer behaviors. The trend of eroding manual transactions is prevalent in U.S. service industries, as also experienced by video store and book store clerks, and even Read More

By |2020-05-27T18:01:00-05:00January 6th, 2014|Comments Off on How to Manage the Decline of the Teller Job

Teller Capture for Improving the Branch Experience

Statistics show that bank networks in the U.S. are shrinking, with 2,267 branches closing in 2012 alone, according to SNL Financial. The closures can primarily be attributed to technology advancements including mobile and online banking, as well as the increasing use of image-enabled ATMs. This notion that branches are slowly but surely disappearing could be intimidating to Read More

By |2020-05-27T18:01:00-05:00December 6th, 2013|Comments Off on Teller Capture for Improving the Branch Experience

Optimizing Branch Staffing for Sales

It’s an old problem in banking but one that is hitting home now with increasing urgency: how do you boost sales in the branches? Part of the answer involves changing the roles and responsibilities of the branch staff. “There has been a lot of discussion by the industry and in the media about the changes of the Read More

By |2020-05-27T18:01:01-05:00October 8th, 2013|Comments Off on Optimizing Branch Staffing for Sales

Tech Champions in the Branch

The branch has always been considered the best channel for banks to deliver personal service. What many bankers probably don’t realize is that the branch may also be the best place to instruct customers in the use of mobile technology. That, at any rate, is the theory of executives at West Jordan, Utah-based Mountain America Credit Union, Read More

By |2020-05-27T18:01:01-05:00September 23rd, 2013|Comments Off on Tech Champions in the Branch

Five Location-Intelligent Applications to Watch

Financial institutions have relied on geocoding and location intelligence for decades to make better decisions regarding site selection and market potential. In recent years, the pace of innovation has accelerated at a fast clip, clearly evidenced by the near ubiquity of smartphones, mobile banking and reverse geocoding. Banks are now able to have a real-world, real-time impact Read More

By |2020-05-27T18:01:01-05:00September 17th, 2013|Comments Off on Five Location-Intelligent Applications to Watch

Motivated Leaders for Motivated Employees

Recent research findings reveal a big gap between financial organizations and high-performing companies when it comes to customer focus. Just two-thirds of financial services employees (67%) describe their organization as customer-focused, compared to 79% of the world’s best performing companies. And while three-quarters of top companies have faith in the quality of their customer support, the same Read More

By |2020-05-27T18:01:02-05:00September 11th, 2013|Comments Off on Motivated Leaders for Motivated Employees

Improving Retail Branch Networks

The “branch of the future” is a tantalizing concept pursued by nearly every large financial institution. A Google search on the term returns about 258,000 hits and there are over 1,000 articles and white papers on the future of branch distribution. All of this speculation and analysis is very interesting but few of these commentators address the Read More

By |2020-05-27T18:01:02-05:00September 9th, 2013|Comments Off on Improving Retail Branch Networks

Tweaking Branch Hours with Analytics

With branch transaction volumes declining more than 45% since 1992, financial institutions (FIs) are struggling to keep branches profitable. While branches are important to FIs as a resource for developing business relationships and customer loyalty, banks struggle to support the financial drain of branches whose transaction volume does not justify the corresponding operating expense. One means of Read More

By |2020-05-27T18:01:03-05:00August 12th, 2013|Comments Off on Tweaking Branch Hours with Analytics

The Strategic Implications of Tellers Selling

“Tellers must do more than transact – they must also sell!” If you’re coming to that conclusion at your bank, you are not alone and you have good reason. Tellers see more customers than anybody else in the bank. The transactions they handle often give off obvious indicators of sales opportunities. With branch volumes declining and facilities Read More

By |2020-05-27T18:01:04-05:00June 7th, 2013|Comments Off on The Strategic Implications of Tellers Selling