What is the future for branches? Here are three emerging roles for branches, and how banks and credit unions must leverage the human touch in the Digital Age. Most retail financial institutions know that they must re-position their traditional branch model. Many banks and credit unions have already closed (or plan to close) at least...Read More

  Traditional retail branch models were designed back in the days before the internet and mobile phones. Times have changed, but branches haven’t. Barely a day goes by when you don’t see an article suggesting that brick-and-mortar retail banking is on death’s door, but branches aren’t going away. They are certainly changing, and in a...Read More

  Bankers have heard it hundreds of times, or been sold it, if you will: If branches are to survive, they must shift from transaction-oriented institutions to sales centers. Yet what about the surprising notion of a bank branch becoming more like … an Apple Store? That’s the view of David Peterson, chief strategic officer...Read More

Cash management involves a lot of behind-the-scenes work. It isn’t simply accepting cash transactions at the cash register. Rather, there are a lot of “moving parts” to account for when handling cash. There is also a lot at stake. Retail businesses rely on cash to operate effectively; if proper cash management isn’t a priority, your...Read More

  At a time when the number of strategic challenges facing the banking industry seem overwhelming, prioritizing what needs to be focused on is an important exercise. To find out what the most important priorities will be in 2017, the Digital Banking Report surveyed over 500 financial institutions globally as part of the research done for the 2017...Read More

What’s the purpose of your branch? For most financial institutions (FIs) today, despite declining foot traffic and growing digital adoption, the branch remains the most lucrative channel for product sales. It’s estimated that between 60-80% of all new accounts are opened in a branch. But I’ll bet a significant percentage of your branches are still designed primarily...Read More

Not too long ago in financial services professionals built relationships — and created a positive experience — by meeting the customer in person for coffee or lunch. The customer would then gain confidence in the professional’s knowledge and ability to anticipate and address their needs. Today, the financial services landscape has changed, and it’s all...Read More

In highly regulated industries such as banking, hesitancy towards moving to a cloud environment stems from concerns about service providers’ ability to meet stringent business and compliance requirements. This means careful scrutiny to ensure a service provider is flexible enough to provide the necessary privacy and security: adhering to strict compliance enforced through regular audits....Read More

  Financial institutions are in a dramatic state of change. Technology has once again shifted the use and focus of the bank branch, with dramatic decreases in foot traffic. The fundamentals of the economy are shifting again, and money is flowing back out of bank accounts to the stock markets. Loans are widely needed to...Read More

According to an article in the most recent edition of McKinsey Quarterly, “Transformation is perhaps the most overused term in business. Often, companies apply it loosely — too loosely — to any form of change, however minor or routine.” In the case of bank branch transformation, a successful effort involves a complete rethinking of customer touch...Read More