The traditional retail banking model, comprising high street banking with digital channels for transactions, is changing. As a result, banks will have to make changes to all their distribution channels. We believe that key developments will be as follows:
Branch networks will be transformed into sales and advice outlets – they will become more productive than today and their costs will be considerably lower.
A multi-channel branch transformation audit across different financial channels at Barclays.
Barclay’s management asked our brand development team to audit and research the customer journey within their branch network and make recommendations on how to drive sales in the branch. Consequently, we looked in depth at the following elements of the branch environment: Customer segments, customer journey for each shopping mission, the selling environment, lighting, cashiers, waiting and self-service areas, cross-selling opportunities, the brand, external signage, window marketing, life stage literature and wayfinding signage.
What do we consider when preparing proposals?
Consideration is given to the design and layout of the existing property estate. A bank needs to work with what it has. The proposals should give the option to improve the branch network within a phased approach, thereby minimising initial cost outlay. All recommendations need to be based on sound insight into customer shopping behaviour.
What can you expect to see in the proposal?
Consumer insight on how customers shop financial services.
What your competitors are doing that works / don't work.
What works well within your existing branch network.
What quick fixes we could make.
What long-term changes you need to make.
to work with us