Bank Branch of the Future. Bank Branch of the U U R. Karen Epper Hoffman

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1 Bank Branch of the Future Bank Branch of the U U R Karen Epper Hoffman 1

2 Lafferty Executive Management Report The Bank Branch of the Future To paraphrase Mark Twain, the reports of the death of the bank branch have been greatly exaggerated. While it is true that banks, particularly large banks, in many parts of the world are shuttering or shucking off branches, this new Lafferty report argues that the branch is still a vital retail delivery channel that will continue to matter for many years to come. That said, the traditional bank branch as we have known it is going the way of the Sony Walkman. As banks reorientate themselves for the future, we will see bank branches that are typically smaller though in some cases larger than today s norm. The role of the branch will segue from transactional hub, where cashiers primarily take deposits, to sales and customer service centres, where customers and prospects are introduced to new or more complex products and services by universal bankers or interact with experts via video conferencing software. It also considers more than 25 case studies in recent branch design initiatives from banks around the world. The Bank Branch of the Future looks at how the branch remains a vital expression of a bank s brand and offers a refreshing and considered vision of the steps needed to reorganise, reimagine and, in some cases, reduce the branch network in order to achieve an optimised branch environment. The bottom line is that the branch is not so much going away as it is evolving. The Bank Branch of the Future considers what this means for the retail bank branch and how it needs to react as other banking channels specifically online and mobile draw away its customer base. The Bank Branch of the Future looks at the many ways banks are successfully repositioning their branches and examines: Why the branch continues to hold on in the face of decreasing transactions and the focus on digital channels and increased efficiency; What the branch needs to do to retain its value as a retail delivery channel; The principles behind best practice in branch design in the face of rising remote banking technologies

3 Bank Branch of the Future Contents About the author 5 Executive Summary 6 PART ONE 7 Introduction 8 Fig 1. Bank Branches per 100,000 population USA & Germany 8 Fig 2. Bank Branches per 100,000 population Asia-Pacific, Middle East and Africa. 9 Increasing online and mobile transactions 10 Decreasing transactions 12 A focus on efficiency Why is the branch holding on? The changing role of the branch 17 PART TWO 19 Best practices in branch design 20 Getting smaller 20 Bringing digital in 21 Moving to where the customers are Getting to the next level 23 PART THREE 24 Bank branch technology Envelope-free deposit/image deposit RFID Queuing technologies Mobile technology for tellers/personal bankers Digital signage for marketing interactive touch screens Video/interactive kiosks In-branch internet connectivity for customers Digital signatures 27 CASE STUDIES 28 Royal Bank of Scotland United Kingdom 28 OCBC Singapore 30 United Overseas Bank Singapore 32 Citibank Singapore 34 Access Bank Nigeria 36 PCSB Bank USA (Iowa) 38 PNC Bank USA (Pennsylvania) 40 JPMorgan Chase USA (New York) 42 3

4 Bank Branch of the Future Commerce Bank USA (Missouri) 44 Umpqua Bancshares USA (Oregon) 46 Wells Fargo & Co. USA (California) 48 BBVA/BBVA Compass Spain and USA 50 Bank of America USA (North Carolina) 52 Citigroup USA 54 Nedbank South Africa 56 Abu Dhabi Islamic Bank UAE 58 K&H Bank Hungary 60 Westpac Australia & New Zealand 62 Allied Irish Bank Ireland 65 Bank of Ireland Ireland 68 Bank of Jerusalem Israel 70 Banamex Mexico 72 Commonwealth Bank Australia 74 ICICI India 77 ICICI Bank India 78 ING Direct Italy 80 First National Bank South Africa 82 Absa Group/Barclays Africa Group South Africa 84 Standard Bank South Africa 86 Banco Bradesco Brazil 88 About Lafferty Group 90 4

Lafferty Executive Management Report About the author Karen Epper Hoffman is an American financial services journalist and industry analyst, currently based in Europe, with more than 20 years of

Her articles have been published in a broad range of mainstream and trade business publications, including the Wall Street Journal Europe, Bloomberg Businessweek, the American Banker, the Bank

5 Lafferty Executive Management Report About the author Karen Epper Hoffman is an American financial services journalist and industry analyst, currently based in Europe, with more than 20 years of experience covering a wide variety of topics for executive and consumer audiences. Her articles have been published in a broad range of mainstream and trade business publications, including the Wall Street Journal Europe, Bloomberg Businessweek, the American Banker, the Bank Administration Institute s Banking Strategies, Bank Director, Bank Investment Consultant, Bank Technology News, Card Technology, Chicago Mercantile Exchange s CME Group Magazine, Community Banker, Computerworld, Digital Transactions, Digitrends, Edutopia, the Financial Times The Banker magazine, Internet World, MIT s Technology Review, Mobile Finance News, Mobile PC, the New York Post, Redmond, SC Magazine, Seattle Business Monthly, Silicon Alley Reporter, Small Business Computing, U.S. Banker, and Washington CEO. She has produced corporate marketing material, white papers, and research for AT&T, BAI Research, FIS, and Prudential Insurance. Previously, Karen worked as a leading industry analyst for Forrester Research, helping to launch the research firm s first consumer financial technology practice. Prior to that, Karen led technology coverage for the American Banker newspaper.

6 The Bank Branch of the Future Order Form Or scan and return by to: The Bank Branch of the Future Single user: US$ PDF format 747 $997 Hardcopy format Includes courier delivery 847 $1,097 Multiple users $ 10-user licence This allows you to distribute the report to up to 10 people within your organisation Enterprise licence An enterprise licence allows you to distribute the report to anyone throughout your organisation globally 1,497 $1,997 3,697 $4,997 Total $ Please invoice me (for EU-based organisations, please include your VAT number ) I wish to pay via credit/debit card For payment via credit or debit card please complete the following: Card type: Visa / MasterCard / American Express (delete as applicable) Card number: CVV: Expiry date: / Date: Name (as it appears on card): Contact Details: Name: Job Title: Company Name: Address: Country: Postcode: Tel: To make a payment over the phone via credit or debit card please contact our accounts department on +44 (0) Data Protection: The information you have provided will be safeguarded by Lafferty Group who will keep you informed of relevant products and services in the future. Please tick how you would like to receive future information: mail .we may wish to make your details available to other reputable organisations. Please tick this box if you would prefer your details to remain confidential. Registered Office: Lafferty Ltd., 19 Davidson Gardens, London SW8 2XB.

Global Credit Debit Payment Card Market

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