THE
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he in-branch banking system is undergoing a significant transformation. With the continued rise of online and mobile services, traditional branches are no longer the bustling hubs of financial activity they once were. While this is undoubtedly driving the future of banking, it does not mean that brick-and-mortar branches are becoming obsolete. Instead, financial institutions must recognize the value of providing an in-branch experience that is cohesive with the online and mobile experience, and adapt the branch network to better meet the needs of their multi-generational consumer base.
The Changing Landscape of Banking The way people bank has changed dramatically over the past decade. Consumers are now able to perform most banking tasks from the comfort of their homes, using their smartphones or computers. From monitoring account balances to transferring funds and even applying for loans and opening new accounts, digital services have made banking more convenient than ever before. As a result, the traditional role of the branch has shifted.
Why Refresh? While online and mobile banking are convenient, there is still a need for in-person interactions. Consumers rely on branches for complex financial transactions, personalized advice, and financial education, or simply for the sense of security and trust that comes with face-to-face banking. To effectively meet these needs, the branch environment must be conducive to the best level of service, and in line with the overall brand.
OF IN-BRANCH BANKING
A Cost-Effective Way to Adapt to Modern Consumer Needs.
By Jim Caliendo, President & CEO, PWCampbell to the community and shows stability. Properly branded branches portray a stronger sense of trust and strengthen consumer relationships across the board and especially with younger generations.
DIGITAL INTEGRATION Interactive touchscreens, digital kiosks, and self-service options allow consumers to access information and perform tasks quickly and efficiently, creating transparency between digital and in-branch services.
INCREASED PROFITABILITY AND PERFORMANCE Dynamic digital displays are a versatile and engaging way to communicate with consumers. They allow the dissemination of information, promotions, and personalized messages to happen in real time. By leveraging in-branch digital technology, financial institutions can enhance the in-branch experience, increase brand awareness, and cross-sell products and services more effectively. Plus, the ability to update content remotely ensures that marketing messaging can quickly be adapted based on changing market conditions and compliance requirements. A key added benefit is the savings created by eliminating printing and distribution costs.
BYPASS PERMITTING One of the biggest advantages of a branch refresh is the reduced need for permitting costs. Unlike new construction projects that often require complex permits and regulatory approvals, a refresh typically involves updating and renovating existing infrastructures. Since the core structure of the branch remains unchanged, there is generally no need for a costly and time-consuming permitting process. This streamlined approach not only saves financial institutions a substantial amount of money but also allows for a quicker turnaround, enabling them to adapt to market trends and consumer preferences more rapidly.
AN ENHANCED EXPERIENCE
COMMUNITY ENGAGEMENT
Modernized interiors, comfortable seating, and state-of-the-art technology create a welcoming environment. Fresh paint, new flooring and consistent branding reinforces your commitment
Many financial institutions’ branches serve as community hubs by hosting financial literacy workshops, sponsoring local events, and provid-
ing meeting spaces for community groups. Refreshing your branches provides an opportunity to promote your brand while revitalizing your role in the community and strengthening your ties to the neighborhoods you serve.
The refresh of branches is a strategic and cost-effective response to the evolving landscape of the banking industry. While the use of digital banking continues to grow, the importance of physical branches should not be underestimated. By modernizing your retail branch network, you will be better positioned to provide a superior consumer experience, leverage in branch technology, and strengthen your tie within the community - ensuring you remain relevant and valuable in an increasingly digital world. James G. Caliendo is a former bank executive and now President & CEO at over 100 year old design-build and retail services firm. In the past 20 years alone, under Jim’s direction, PWCampbell has worked with over 500 financial institutions influencing millions of square feet of retail and operational space to create engaging, impactful, and scalable solutions for every sized facility project.
