Celent conducted two surveys earlier in 2018 among banked US adults to understand when and how consumers prefer in-person engagement with their financial institutions. Celent compares these results with parallel questions asked of Celent’s Branch Transformation Panel to understand how well banks know their customers. The research suggests banks overestimate how their customers view them in several important ways.

This is the eighth in a series of reports based on Celent’s Branch Transformation Research Panel. The purpose of the effort is to look deeply into the objectives, priorities, risks, barriers, and likely outcomes of the growing trend that is branch channel transformation in North America. Panelists were recruited among Celent clients and nonclients alike.