Branch Banking Shifting From Transactions to Interactions

by Edward O'Brien 0

As the attachment totraditional branches in banking continues to drop, a new method of networkplanning is required that revolves around building an enhanced customerexperience. It comes as no surprise that banking customers are continuingto migrate routine transactions and interactions to digital channels. At thesame time, there has been a rapid shift in online shopping that has altered themarketing and sales funnels for banks and credit unions.

The movement from transactions to interactions is aninteresting one, and one that we’ve been exploring for some time at Mercator Advisory Group. With banking customers increasingly choosingto use self-service channels for their daily transactions, and branches fortheir interactions, financial institutions are seeking out the best businessmodels to meet the specific needs of banking customers in their markets.

Overview by Ed O’Brien, Director, Banking Channels for Mercator Advisory Group

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