Understanding Lean Bank Branches

The benefits of this model for both customers and banks

Banks were already in a whirlwind of change and now the pandemic is increasing the challenges they face.

More and more branches are closing amid falling footfall, rising costs and increasing competition from online challengers.

The solution is to move to a “lean bank branch” model, which increases value for customers by using self-service for simple functions and video calling booths for one-to-one personalised advice.

Branches can reduce operating costs while still providing high levels of service.

This whitepaper outlines the four key reasons banks should invest in lean branches. Read now to find out:

  1. How the model cuts unnecessary costs and maximises efficiency
  2. The opportunities available to create new streams of revenue to drive profitability
  3. How lean branches evolve the banking experience and drive greater customer loyalty
  4. How keeping branches open maintains accessibility to financial services for local communities

 

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Mark Aldred, our Head of International Sales, spoke about this recently with Jim Marous of the Financial Brand on his hugely popular podcast, Banking Transformed.

He explained how bank branches are only one component of an improved distribution strategy, as organizations strive to embed banking within a consumer’s daily life.

So what should banks be doing to increase profit and value to customers?

You can find out in the video or listen to the podcast audio here.

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