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Branch Distribution

“Bank-at-Work,” or workplace banking, is not a new concept. It’s a logical strategy for financial institutions seeking a competitive edge.
But too often we find banks have tried it with only limited success.


Bank-at-Work offers an opportunity to grow at low cost because it leverages commercial relationships the bank already has. It’s a simple concept: Bank the business, their management and their employees.


But it takes structure and process to make it successful.



About the Event


The decline in branch transactions has big implications for retail banking. Most branches today need only Universal Bankers, who perform both sales and service transactions.


Implementing this change can be challenging. Many banks tend to think about the physical obstacles in branches built for a different era. But the biggest challenge is not moving walls, but “moving people” – different skills, different incentives, different organizational structure.


Most banks and credit unions don’t achieve full, effective implementation of their Universal Banker models, particularly regarding “sales”. What are the roadblocks? What gets in the way?


Join David Kerstein and Ric Carey of Peak Performance and Nick Miller of Clarity Advantage for this free webinar.


What you’ll learn:


  • Avoiding roadblocks: structuring your migration to the Universal Banker
  • The Roadmap: what needs to be done, in what sequence
  • 5 steps to practical transformation to the new model



Wednesday, July 25

  • 2:00 PM Eastern
  • 1:00 PM Central
  • 12:00 noon Mountain
  • 11:00 AM Pacific



Will the future of retail branches be dominated by Amazon-style digital technologies? Or will banks delivering a phenomenal experience like the new Starbucks prototypes win the war?


During a recent trip to the Seattle, we visited the new Amazon Go store. It’s not just that Amazon is shaking up the retail industry, but that almost every week my inbox is inundated with new articles on the threats Amazon poses to banking.


I saw some amazing new technology, but a stop for coffee at one of the new Starbucks’ prototypes convinced me that the direction for retail banking is more likely to look like a Starbucks Reserve than an Amazon Go.


Read more about our experience, with pictures of both concepts, in our article in The Financial Brand.


The recent Wall Street Journal article about the dominance of the three largest banks struck a visceral reaction among bankers. The key points were not only that the top three (JP Morgan Chase, Bank of America and Wells Fargo) have grown market share to 32 percent of total deposits, but also that last year they garnered an astounding 45 percent of all new checking accounts.


The reactions we heard reminded us of the stages of grief—comments ranging from denial (“It can’t be true”); anger (“How could they accomplish that—even Wells Fargo with its reputational problems!”); to finally acceptance and resignation (“How can we possibly compete against them?”).


Let’s step back and ask: Is this accurate? If so, how did they do it? What can—and should—you and your bank do to compete?

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Branch expansion has become popular again. But is opening more branches really the right way to enter new markets? If so, how many branches do you need? But banks must be careful where they build as all markets are not equal. Banks and credit unions must be careful how many branches they open — and in which markets — or they could get burned.


Read Jon Voorhees’ analysis in The Financial Brand of the JP Morgan Chase and Bank of America announcement that they are building new branches and entering new markets –  Is this the beginning of a new arms race? Will they be successful?


Most importantly, what does it all mean for your bank?  Six key takeaways you should act on.


I’m always excited every March when nearly 200,000 people crowd into Austin for South by Southwest, composed of annual interactive/digital, film and music conferences. The interactive portion of the conference has blossomed into a massive tech event—now well known as the place where the Next Big Thing (like a Twitter) gets unveiled.


But “South-By” is not just a conference and trade show: Call it the Super Bowl of Experiential Marketing, where big brands and startups compete in innovative ways to garner attention. Sometimes that manifests in small things, such as custom Spotify playlists or one-to-one interactions. And other times, that means over-the-top events with a healthy share of free food and drink. (Yes, there’s a reason why I go!)


The bottom line: Over the years I’ve seen and heard one consistent message, summed up in this poster at SXSW Interactive:


I’ll be interested if you’ll be interesting.”


This led me to ask this question: As an industry, are we interesting? We have a large, expensive branch distribution network that sees less and less foot traffic each year. What can we do to create interest—along with more involving and compelling interactions for our customers?

Continue reading


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