Bank Customer Experience Summit to examine future of branches

Bank branches are entering a major period of transition. In 2022, the number of bank branches in the U.S. fell to 71,190 — down from a high of around 85,000 in the early 2010s, according to data from statista.

Yet while some banks are reducing their number of branches, others are expanding. Bank of America, for example, is expanding its branch network into nine markets over the next four years, as well as opening 58 branches in total this year.

Brian Moynihan, CEO of Bank of America, said his bank plans "to modernize our financial centers to reach more clients and meet their evolving needs."

This is a key component of a bank's branch strategy: to design a more welcoming and innovative space for customers. A panel at the Bank Customer Experience Summit, held in Charlotte, North Carolina from Sept. 12 to 13, will look at the topic of branch transformation in detail.

Brad Browder, CEO of HTx Services LLC, will moderate this panel with panelists Alex DeJesus, VP of member experience at Addition Financial, Amber LeGrett, SVP of financial center client experience at Bank of America and Katie Meyers, VP and CXO at Manasquan Bank.

The panelists will discuss how banks are using self-service technology within banks to help customers handle transactions and other banking tasks, and they will also examine upcoming trends such as smaller footprints and pop-up sites.

When looking at the trends, Meyers said a key element is that banks are transforming their spaces away from purely transactional spaces to welcoming environments that deliver relaxing informative experiences for clients.

"The most exciting aspect of branch design that I have observed is the shift towards a more intimate and conversational environment. Branches are no longer just sterile, transactional spaces with teller windows and counters. Instead, they have become welcoming and engaging spaces that foster meaningful connections between clients and bankers," Meyers said in an email interview.

Another element of this shift is that banks are beginning to automate simpler transactions with self-service technology such as ATMs and ITMs so that bankers can take a more advisory approach for clients.

"The most exciting thing about branch design is the transition to self service for trivial transactions and really taking a consultative approach when customers see a banking representative," DeJesus said in an email interview. "This approach can be perceived as detrimental to the banking world and beneficial as well."

One way banks are delivering this sort of environment is by changing the physical space of the branch itself. They are removing traditional barriers such as teller windows and counters in favor of open space designs, which not only conserve space but also create more comfortable environments.

"One key design element that enables this shift is the use of open floor plans and flexible furniture arrangements. By eliminating physical barriers and creating adaptable seating areas, clients are invited to linger and engage in conversation with bankers," Meyers said. "This design strategy has been successful in promoting a sense of community and comfort that was once lacking in traditional branch settings."

The Bank Customer Experience Summit will cover this topic and many others, including hospitality, small business trends and more. This year, the event will be held in tandem with the Interactive Customer Experience Summit from Sept. 11 to 13, which will gather restaurant, retail and hospitality executives. One badge gains entry to both events. Click here to register for the event. Use the code AMCEDIT20 for 20% off.