Among several hot topics for global banks is the need to reduce the cost to serve customers while improving the overall experience in order to attract new customers. Two of the ways this can be achieved are by decreasing the number and size of physical branches, and reducing staff numbers by migrating basic transactions to self-service or online.
But a physical presence is still required to attract new customers and to sell more to existing ones. Determining the nature of your physical presence at any given location is a key decision. Arriving at the right format strategy for your bank – and producing a modular design that can be rolled out across your network as cost-effectively as possible – is critical.
It is important to remember, though, that what has worked well for one bank is not necessarily transferable to another. At I-AM, we are experts at advising on branch format strategies, and identifying appropriate format solutions to best serve the needs of the market, location and customer typology – in tandem with our clients’ unique brand and business objectives.
The result is a compelling and consistent customer experiences across all formats – from remote ATMs and kiosks, to Automated Digital Branches operated by a skeleton team, to multi-purpose branches in shopping malls and on high streets, to the ultimate brand experience of a Flagship Branch.
While the ever-greater uptake in online, mobile banking and in-branch technology continue to challenge the role of the traditional flagship branches, we understand the need for a complete 360º experience across all formats. We also understand the importance of creating points of engagement with the customer and delivering a true omni-channel experience, irrespective of format.