Analyst's Point of View
In interviewing retail bankers about branch technology plans, one thing seems certain: branches aren't dead. But they are different. In an era of growing usage of self-service channels, most banks consider the branch as important as ever, but it must be more effective and efficient. One compelling reason is that branch foot traffic is declining at most banks. Getting the same sales results requires making the most out of the declining opportunities to interact with customers in the branch.
This is driving branch automation spending in multiple areas, most notably CRM systems. Just one in four financial institutions uses operational CRM systems, according to a July 2010 Celent survey. Banks could learn from credit unions, which have generally had to do more with less and lack wholesale banking lines, but operate significantly more advanced branch networks. This topic is explored in a recent Celent report: Branch Banking in a Multichannel World: What Ever Happened to the "Branch of the Future?"
We are always eager to hear from our clients on topics such as these. We look forward to being of service to you in your increasingly complex and challenging technology, business, and regulatory climate.
Are you planning on attending BAI Retail Delivery in Las Vegas this October? Several of Celent's top banking analysts will be available for one-to-one discussions:
Bart Narter - core banking technologies
Jacob Jegher - Internet banking and social media
Red Gillen - mobile banking
Bob Meara - branch technologies
Zilvinas Bareisis - payments
If you would like to arrange a meeting while at the conference, please contact your Account Manager or Steve Nawrocki, sales lead for Celent's banking practice, at firstname.lastname@example.org or +1 617 262 3128.
Chart of the Month
From the Celent report Branch Banking in a Multichannel World: What Ever Happened to the “Branch of the Future?”
Celent Published Reports
Research in Progress
- Personal Financial Management: The Time Is Now
- Small Business Online Banking
- Core Banking Solutions for US Credit Unions
- US Mortgage Origination
- Mobile Contactless Payments in South Korea
BAI Retail Delivery Conference
October 19, 2010 - October 21, 2010
Las Vegas, NV, USA
Celent Banking Webinar: What If Remote Deposit Capture Goes Mainstream?
November 02, 2010
For more about Celent speaking engagements, please see our Events page.
Celent Continues Growth in Outsourcing and Indian Markets