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branch strategies
Oct 2, 2024
Small business owners may be warming to digital banking, but for the foreseeable future, they still want branches and a banker they can trust.
Sep 19, 2024
CFIs are making ground protecting themselves and customers against digital threats, but they also face physical security issues. Here’s what CFIs should do to assess and improve their physical safety.
Feb 3, 2020
Today we answer your questions on fraud detection, branch traffic and CRE lending.
May 9, 2024
For some of the largest banks in the US, branch openings outnumbered closings for the first time in a decade in 2023. Yet, branches are still being closed across the country, as digital banking gains popularity. We look at the reasons behind large banks' decisions to open new branches, even as online banking gains momentum, to learn how institutions are adapting to meet the diverse needs of today's banking customers.
Aug 20, 2024
Some CFIs are generating capital by selling branches and leasing them back from the buyers. What pluses and minuses does this strategy involve, and how should CFIs that are interested proceed?
Jul 17, 2023
More and more CFIs are leapfrogging into markets far away from their home turf. We detail a few examples of why they are doing this and review some best practices to make sure your far-away branches succeed.
Jan 2, 2024
As CFIs strive to make branches and in-person experiences for customers more appealing, the importance of the sensory experience should not be overlooked. We discuss why factoring in those experiences makes good sense.
Nov 7, 2023
One of the top retail banking trends in 2023 is the evolution of branches. It’s not enough for branches to be spaces in which customers complete transactions. Smart branches integrate with digital offerings and attract current and potential customers in new ways.
Aug 22, 2023
Despite lower foot traffic since the pandemic, there is a renewed focus on branches as FIs find that customers still want human interaction for more complex operations. To complement the digital services they offer, CFIs should focus on transforming their branches from transaction-based sites to advice centers.
Apr 27, 2023
Localizing the design of your branches can boost customer loyalty, enhance your particular brand, and make new customers walking in the door immediately feel at home. Here are some strategies other CFIs have used to add local flair to their branches that can help inspire your own ideas.
Dec 5, 2022
According to an analysis done by the Financial Brand, half the banks that exist today will disappear during the next 20Ys, leaving fewer than 2K banks in the US by 2042. Small banks will be particularly hit hard. We discuss what CFIs can do to help ensure that they are among the ranks of the survivors.
Feb 3, 2023
A recent study says that a financial institution’s lack of support for local charities would push customers to move their accounts elsewhere. We explore how your CFI can pick charities that make the greatest impression on your customers.
Mar 8, 2023
Branches-on-wheels are not just for disaster recovery anymore. More CFIs are using them for a whole host of purposes — including serving “bank deserts” in both rural and urban areas, hosting financial literacy classes, and marketing their brand along the way. We discuss how to use these mobile branches effectively.
Mar 16, 2023
Who says CFIs can’t innovate? We feature a number of very creative CFIs that are coming up with novel ways to serve their customers. Then we detail some pointers on how to best innovate in a safe and sound manner.
Aug 6, 2021
Do your business customers include artists? If not, you could be missing out on an opportunity. Reaching out to artists not only helps them, but also expands your business and solidifies your commitment to your community. We lay out five ways that you can support artists and generate business, including displaying artwork, sponsoring shows, and financing the development of “art communities.”
Aug 19, 2021
It is no secret that bank branches have been closing lately. M&A, rapid digital adoption, and continuing remote work options are a few notable reasons. Yet, as the Kansas City Fed noted in a June 2021 article, “community banks remain crucial financial services providers and are the predominant providers of banking services in rural communities across the country.” We provide important questions to consider as you review your branch strategy.
Aug 26, 2021
In 1934, robbing a national or state bank of the Federal Reserve became a federal crime. While the rise of digital banking and cyber thievery has led to fewer in-branch robberies, branch security is still important. It can be challenging today with pandemic protocols such as social distancing and masks. Yet, these five security operations help you firm up your branch security.
Sep 17, 2021
As customers continue to adopt digital banking and still expect personalized service, hybrid branches may be the way to go. The Forrester Customer Experience Index shows hybrid branches provide the highest customer quality experience. We explore some reasons customers still visit branches, how to integrate technology in the branch, and examples of big bank hybrid branches.
Oct 12, 2021
Branch sharing, especially with competitors, sounds outrageous to many financial institutions. Yet, there is a pilot underway in the UK where financial institutions are doing just that. As in the US, branches have been closing, leaving many bank customers without an option to visit a physical bank location. We give you the details of this pilot program, as it would not be the first time that industry trends reached our shores from across the Atlantic.
Jan 5, 2022
The hike in inflation to 6.8% in November and the arrival of the Omicron variant have applied pressure for the Federal Reserve to increase interest rates. What will this do to deposits? While rates are still low, it’s critical for community financial institutions to retain their customers and their position as primary bank. Here are some tips to help increase customer stickiness.
Jan 28, 2022
Universal bankers, who can handle a myriad of customer needs, are not new. According to Zippia, there are over 121K universal bankers in the US. If you don’t have any universal bankers, you may want to revisit this particular role. As many transactions are handled online, traditional teller roles are evolving to meet customer needs more effectively and efficiently, boosting an institution’s ROI. Here are five steps to get there.
Mar 21, 2022
A record net 2,927 US bank branches closed in 2021. Is this all bad news? We give you the important facts on branch closures and look at the impact on community financial institutions. We also share some stories of how your peers have been dealing with this trend.
May 24, 2022
Bankers know that the role of the branch and its staff has shifted and continues to evolve. With many customers accustomed to digital banking, technology is ever-more important. Yet, one in five bank customers still wants easy access to a human staff member. How can your branch support your customers’ expanding needs?
Jun 2, 2022
Mergers and branch consolidation have accelerated in recent years, leaving an increasing number of rural communities without access to bank branches. Could CFI’s turn these banking deserts into banking opportunities?
Jul 1, 2022
In the current low-rate environment, almost one in five community financial institutions plan to add new lines of business to boost earnings, alongside leveraging their existing business. Here we look at six potential revenue streams that CFIs may want to explore.
Jul 14, 2022
CFIs can grow loans, deposits and non-interest income through partnerships with neobanks. It's a potentially smart partnership, but one that CFIs should consider carefully before cementing. We give you some ideas to consider before deciding to partner with a neobank and how to increase the chances that this new relationship will thrive.
Aug 4, 2022
The pandemic may have driven more people to digital banking channels, but CFIs shouldn’t go overboard overhauling all of their branches to strip away essentials — particularly human staff. Branch design going forward should be a mix of styles, depending on customer makeup and geography, with a “hub and spoke” approach that is flexible to accommodate changing characteristics.
Aug 22, 2022
The Internet of Things (IoT) is driving innovation in the financial services industry. There is potential for CFIs to use IoT technology to enhance the customer journey and grow their business. We look at these opportunities and give three tips to consider for successful deployment.
May 21, 2021
Big banks, such as JPMorgan Chase and Citibank, are returning their employees to the office sooner than expected. We highlight some of their return-to-work challenges as well as learnings to incorporate into your own plans.
Jun 25, 2021
Cash usage is not dead and ATM drive-by convenience is growing. Stand-alone ATMs provide benefits for community financial institutions, while satisfying the self-service needs of their customers. As you assess your ATM strategy, consider these benefits: brand and branch enhancement, cost reductions, and a consolidation alternative.
Jan 15, 2021
Landscaping at your branch can help to engage your community and convey a message. We give you some examples of how your peers did this successfully.
Nov 3, 2020
The business model of the branch is changing. Could it look like that of your local dentist's office?
Mar 4, 2020
While many branches are closing, reassessing and maximizing their value based on your customers' needs is the way to go.
Jan 14, 2020
Costs associated with branch networks are in the range of $600k to $2mm per year. Is it time to do a sanity check on your branch costs?
Mar 12, 2018
Virtual reality (VR) isn't associated with banking, but some banks are using it to turn intangible financial concepts into immersive virtual experiences.
Mar 2, 2018
A recent survey on banking customer decisions provides thought-provoking information for community banks.
Feb 27, 2018
56% of surveyed respondents say their banks are developing projects that require learning new skills. What does this mean for your bank?
Feb 26, 2018
There are still lots of questions around bank branch redesign. We help with some of the answers.
Dec 5, 2017
Chatbots are more prevalent in banking. Some banks are mixing the efficiencies of chatbots with human interaction so they don't lose the human touch.
Oct 27, 2017
What is the most valuable resource in your branch? We think the human resource. Find out how to align customer desires with the right mix of employees, training and compensation.
