DIGITAL BRANCH DESIGN
Presence, openness and intimacy
Obituaries for the late-departed bank branch continue to be premature. For a decade and a half now, it has been received wisdom that the 'future of banking' would soon see firms abandoning bricks for clicks. That has not proven to be the case. But is the branch being transformed? Certainly.
Recall that the bank branch was often the most impressive building in town, conveying solidity, stability and security. However, digital disruption is now well underway, and the enormous growth of smartphone use over the past ten years has facilitated mass adoption of digital financial services. So, in effect banks have now added a vast digital network to their vast branch networks. Sometimes, we think, banks have never had it so good, with customers obligingly staying out of branches for everyday transactions and instead doing them at home or on their mobiles. The bank brand is everywhere!But the future of the branch network is one of the biggest strategic questions facing traditional banks today.