As online and mobile banking continues to rise, financial institutions are rethinking their branch strategies.
DBSI's CEO John W. Smith, recently spoke with Newsday about the major trends shaping branches today. Not only are branch footprints shrinking, but so are the number of people needed to staff the branch:
“Transactions [in branches] are dropping 4 to 5 percent per year, so banks, right now, are dealing with shifting from transactional branches to advisory branches," said Smith. "The bank is there to help people in their life journey.”
These changes are the driving the need for Branch Transformation and creating branch experiences that help foster an advisory relationship with clients.