Branch Transformation 2017: Beyond the Branch of the Future

Infrastructure
15.09.2017 07:45 am

Barclays, BNL BNP Paribas and Santander are among the many institutions to share their experiences of the new branch paradigm at Branch Transformation 2017, which takes place in London on 28^th and 29^th November

What comes after the branch of the future?

For years, banks have longed to transform their branches into futuristic outlets, heeding changes in consumer behaviour and taking advantage of developments in technology to overhaul their networks. However, with continuously shifting customer expectations and a widening array of technological solutions on offer, banks must think of branch transformation not as a one-off upgrade, but as an ongoing, evolutionary process.

A unique forum, gathering together industry experts from around the world

Branch Transformation 2017 (London, 28^th and 29^th November) is a conference and expo dedicated to branch strategy, helping banks to shape, develop and perfect their branch transformation agendas. Inspiration comes from a host of innovative bank case studies, thought leadership from the industry’s key strategists, extended networking breaks and an exhibition hall, packed with the latest branch-enhancing technology*.

Commenting on the success of RBR’s Branch Transformation events, Managing Director, Dominic Hirsch, said: “Branch transformation continues to be of utmost importance to banks the world over. This event provides unparalleled insights on how best to maximise what is still an incredibly valuable channel”.

Branch Transformation 2017 set to be the biggest yet

Branch Transformation has gone from strength to strength as an event, growing bigger year on year; 2017 promises to be no different. RBR expects record numbers of delegates at this year’s conference – over 550 – with representation from 150 companies and 40 countries. There is still time to get involved, as a speaker, sponsor or delegate; further information, including a full speaker agenda, can be found at www.rbrlondon.com/branchtransformation.

What does branch transformation mean today?

Branch transformation is evolving. Today, the world of branch transformation is diverse and fast-moving, and banks should consider trends carefully while anticipating what may be around the corner tomorrow.

Technology: From artificial intelligence to cash recycling to digitalisation of paper processes, technology is the underlying fundamental driver of branch transformation. New developments create solutions to a variety of pain points for banks, allowing them to focus on the all-important customer experience.
Format and design: The branch of tomorrow may be unrecognisable as a bank branch. Banks around the world are taking inspiration from other sectors, moving away from traditional teller counter formats towards something more fluid. Incorporating more social elements into the branch – such as a coffee shop or a community space – allows customers to connect on a more human level with their bank.
Omnichannel integration: With many customers turning away from the branch towards online and mobile for everyday transactions, the branch retains key significance as an advisory and sales outlet – but only if it is integrated seamlessly with digital channels.
The role of staff: Bearing in mind a growing customer preference for digital over teller counter transacting, branch staff can and should be leveraged for more commercial purposes. The human interaction that the branch provides is unique and valuable.

Crucially, branch transformation is not a “one size fits all” model. Banks can take inspiration from institutions which have already embarked on their transformation journeys, assessing which strands hold potential for them and their customers before drawing a complete picture of what branch transformation means to them.