South State Correspondent

MAY 31, 2023

Branching is likely your bank’s highest functional cost, just ahead of loan production. 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. 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

Look at the decline in branches since 2009. I read a recent interview of Members 1st Credit Union CEO Bob Marquette by S&P Global Market Intelligence (link requires subscription). When asked, Marquette said of the death of the branch: "I think it's bullcrap. Elevate branch employees. Make your branches look the part.

Branch Strategies 60

Branch Strategies DC Groups Fintech 60

The Financial Brand

SEPTEMBER 6, 2021

What prime opportunities would develop if the mega-online-retailer plops its own department stores on the edge of your market? The post What Will Happen in Banking if Amazon Rolls Out Retail Branches? appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

Retail 27

Retail Banking Trends Analysis Trends 27

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. But the #1 or #2 reason cited by small businesses and individuals as to why they select their bank remains branch location.

Branch Strategies 71

Branch Strategies New Jersey Strategy Capital 71

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. The number of transactions processed per branch dropped 14 percent over the same time period.

Community Bank 70

Community Bank Community Operations Retail 70

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