South State Correspondent

MAY 31, 2023

At around $75 per year for unique visitors, it’s multiple times more expensive to service customers compared to other alternatives such as online, mobile, or phone. That said, branch profitability has come roaring back, given the value of deposits. Certain transactions and many problems can only be solved in the branch.

Data 195

Data Branch Strategies Strategy Mobile 195

Jeff For Banks

MAY 31, 2017

I also believe that branches can be developed as competitive advantages for community financial institutions. Much like the credit union CEO thinks his branching strategy differentiates his CU. But, as our current strategy execution stands, there is much work to be done. Make your branches look the part.

Branch Strategies 60

Branch Strategies DC Groups Fintech 60

PYMNTS

AUGUST 11, 2017

This week, passwords managed to find a whole new way to “fizzle,” past being simply friction-filled, hard to remember and often repeated across logins by consumers not interested in trying to remember more than one. The twin threats of self-service in-store and online shopping, in general, have been putting a dent in sugary sales.

ATM 118

ATM United States Industry Branch Strategies 118

NCR

FEBRUARY 11, 2016

The advent and advancement of online and mobile banking have decreased the number of trips customers make to the branch, as well as the number of transactions they perform while in the branch. This decrease in activity has threatened the profitability of many branches. In particular, look at demographics including.

Data 40

Data Branch Strategies ATM Meeting 40

Independent Banker

MARCH 15, 2015

Certainly for the largest banks, contact centers are evolving into digital retail centers, managing new digital channels to handle more customer support activities previously conducted in-person at branches. Hiring a third-party contact center to manage “after hour” customer inquiries could be another early step.

Community Bank 70

Community Bank Community Operations Retail 70

Jeff For Banks

OCTOBER 13, 2011

In keeping up with industry reading it is clear to me that we, as an industry, are perplexed at what to do about branching. The recently released FDIC Summary of Deposits showed the second year of branch decline. As branches decline in prominence, we should plan our next branch with the gas station in mind. That''s right.

Branch Strategies 71

Branch Strategies New Jersey Strategy Capital 71

Jeff For Banks

DECEMBER 1, 2015

mBank’s light branch depicted above is located in a mall. And the rest of us are increasingly buying online. So putting a light branch in a mall that is being vacated by Macy’s may not be a winning strategy if your bank’s objective is to increase visibility through strategically located, yet smaller branches.

Pennsylvania 60

Pennsylvania Community Bank Community Taxes 60