Tag: Branch Banking

The Future of The Branch: Sitting Down With Citizens Bank

The Future of Branch Delivery

We like to learn from the best. To help us frame our thinking about the future of the branch, we recently sat down with Beth Johnson, CMO and head of virtual channels for Citizens Bank—a $157 billion regional bank based in Providence, R.I.—to get her thoughts on the future of the branch and how the bank thinks about various customer engagement channels.


Could Capital One’s Branch Concept Work For You?

Capital One Cafe Branch

Bank branches remain a critical channel for delivering financial services to individuals and businesses.  However, as banks consolidate and technology advances, branch traffic, and items processed remains on a rapid decline.  Further, the need for the physical branch is running into bank’s need to reduce costs. From a cost standpoint, a bank’s branch network is their largest single functional cost.

Further Combating The Wells Fargo Sales Syndrome

Delivering Better Banking Advice

While community banks already do a great job at building a culture that truly cares about the customer and a culture that does not open perverse incentives for unchecked account opening, that does not mean we can rest. There are some procedural changes we can make in our industry to further build trust. Trust, unfortunately, is what is lacking at banks as evidenced by a new study out by Ernst and Young that shows that banks with branches are falling further behind digital-only banks and fintech applications in some important areas.

How Technology Alters the Branch Game Theory Problem

Game Theory in Branching

In branch banking, there was always the dilemma in gathering customers. The number of customers a branch would attract was a mathematical function based on location of the nearest competing branch, services/products, brand and price. All things being equal, customers tend to choose the branch that is the closest. Lower the price of a product, increase the brand value (marketing) or offer some unique services/products, and a branch could pull from a wider service area and increase market share.

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