Physical bank branches aren’t going away. In fact, they remain integral to the banking experience. But their purpose has greatly evolved from that of previous decades. In the past, branch proximity was the key driver for customer acquisition. Today, routine tasks are taken care of digitally, meaning community sponsorships, paid media, and digital reach are often more successful at building awareness.
Still, complex sales and servicing are largely done in person. Banks must consider the branch’s role in their organization and how they can develop a branch operating model that uses this resource to better serve its communities.
Define the branch roles that best serve your business and communities
Optimize physical footprint and restructure branch operations to improve customer satisfaction and reduce costs
Develop a digital strategy that integrates organization-wide technology, removing disparate systems and experiences and allowing better use of data insights
No part of your organization is an island. We offer a solution to bridge digital and branch transformation that considers all the moving parts of your financial institution—including strategy, organization, process, and technology. How can we help you develop an integrated strategy?
Branches can still make a meaningful impact on your target market. We look at possible roles ranging from engagement and education to complex servicing and planning, and help you align locations and market needs with strategic outcomes. This approach ensures that a branch’s purpose fits the community’s needs and contributes to your financial institution’s overarching goals.
After defining what your branch roles look like, we then assess your branch operating model. The goal is to align operating models with the purpose, location, and target size of updated branches, as traditional models may not serve your bank or the community correctly. For example, in an area that needs a transactional branch, compact infrastructure or co-tenancy can help you reduce costs and offer more locations.
The problem with modern branch transformation is that many financial institutions plan with a physical architecture mindset. We include branch transformation in the digital strategy and execution from the start—fostering connected systems and the ability for branches to integrate insights from digital channels. We also tailor our branch transformation offering to your business—including your current footprint, customers, and investments.
Moving closer to a digital operating model leads to $60 million in new revenue and $9 million in savings
Building a digital platform for City National Bank of Florida to drive $50 million in new revenue
Redesigning team roles and structure leads to 60% fewer redundant tasks
Transforming a multinational bank’s sales produces $3.6 million in new revenue—and counting
Reducing data entry time by 500% with customized LOS solution and redesigned, efficient processes
Lowering a bank efficiency ratio by 12 percentage points with data-driven solutions for Johnson Financial Group
Restoring critical operations in one weekend following a DopplePaymer ransomware attack