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Q: How can banks plan for their branches in the post-COVID landscape? In this segment, Gina addresses the need to build efficiencies into the physical branch channel. As many consumers have acclimated to digital channels in the current environment, many may not return post-COVID, but there are format options to help you reshape your …
… wears on retail banks have seen a 20% drop – smaller than expected, but a drop nonetheless – in new account openings, which typically occur in the branch. The Takeaway: While many retail banking lobbies remain open by appointment only or with limited staff, there’s still a significant opportunity to shift focus toward cross-selling …
With consumers seeking relationships, community banks and credit unions look at branching opportunities as a way through the COVID crisis In our last feature What’s Next, we explored the ways banking is coping with near-term challenges and provided best practices to implement across both brands and branches. One of the five key principles we …
In this episode, Sean and Gina talk about the inherent assets community institutions have that can be leveraged, specifically the local branch network. They discuss how banks need to be both defensive and offensive in developing and deploying their branch strategies and recognize that COVID is a catalyst for change. Text Transcript Intro: This …
… of lockdowns and then life as we knew it would snap back to normal. Instead, the pandemic endured and industries responded with an impressive pivot, especially in branch banking allowing them to continue delivering essential services throughout the pandemic’s changing conditions. Some of these changes sparked by the pandemic will remain long after we …
… now have the needed funding to reinvest in their financial institutions, where should they focus most of their efforts on improvements – in the brand or the branch? What kind of experiences really put banks and credit unions in the best position to create the most meaningful member and customer connections, and when is …
The Story: While the number of account holders visiting a bank branch continues its slow year-over-year decline as digital uptake increases, a still significant number of consumers – 166.6 million of them – expect to access a branch through 2024. The Takeaway: Although COVID led to a massive uptick in consumers using digital tools …
… COVID spring edition of Edelman’s Trust Barometer found that trust in the financial services sector jumped six points between January and May of 2020. As bank branches undertake their post-COVID phased reopening process, reaffirming this consumer trust in financial institutions while the virus is still very much with us couldn’t be more vital. …
Financial institutions are rethinking and optimizing their networks to meet changing consumer demand.