Branch Transformation: Are Bank of America and Wells Fargo on the Right Track?

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9 October 2013


  • Banks ought to push themselves harder in terms of Branch Transformation. Of course consumers will say they need or want nearby branches, but their behavior paints a very different story. Indeed, Banks - including the top 50 banks - would be smart to push the envelope on Branch Transformation by (among other things) opting for executive style offices for revenue-generating banking activities rather than engaging in half-measures such as "teller-less" street-level branches. Most consumers are perfectly happy with online, mobile and ATM access which can (and should) be enhanced to handle 99% of transactions for 80%+ of the customer base.

    Not only with such transformation enhance Brand and Customer Experience, but Banks can double or triple their bottom line performance (read more:

  • Banks should push harder as you say, but cultural and structural impediments abound. Channel organizations, channel P&L and lack of activity based costing capabilities among them. Change will be slow, I'm afraid.