News and Views
New design ideas and concepts for bank branches. Innovation and the digital entrants.
Bank branch concepts at ANZ
As bank branch traffic continues to decline, it's crucial to explore innovative retail interior designs that can revitalise customer engagement for banks and credit unions in the financial services sector. Through strategic design and digital branding, we aim to create branch formats that serve as brand ambassadors—showcasing the bank's identity positively while enhancing brand awareness and driving sales. In this article, we share design ideas and retail format solutions that inspire financial service operators and management teams to consider re-engineering their branch environments.
Trends in Bank Retail Branding and Branch Design
As part of our ongoing process to renew bank branch design, we continually benchmark best-in-class operations worldwide. A recent visit to Australia in January revealed cutting-edge branch formats by ANZ, which exemplify this trend. Upon entering, customers are greeted with a full suite of digital banking options, including Wi-Fi, next-generation smart ATMs, Apple Pay features, goMoney, and a new “Banker Desktop” system that significantly improves response times for customer queries.
As part of our ongoing process to renew bank branch design, we continually benchmark best-in-class operations worldwide. A recent visit to Australia in January revealed cutting-edge branch formats by ANZ, which exemplify this trend. Upon entering, customers are greeted with a full suite of digital banking options, including Wi-Fi, next-generation smart ATMs, Apple Pay features, goMoney, and a new “Banker Desktop” system that significantly improves response times for customer queries.
Key Considerations for Branch Design
1. Retail Cost Savings vs. Overall Profitability:
Many banks have turned to cost-saving technologies to develop new design concepts that minimise branch payrolls, often overlooking the negative impact on critical functions. While a high-functioning smart ATM can replace some frontline staff, it can lead to lost sales opportunities from teller referrals that once facilitated consultations and product sales. Customers accustomed to personalised service now face long waits at locations that struggle to handle increased traffic. Conversely, a branch experience centred around universal services can streamline staffing and maintain the essential sales and service components previously managed by tellers. The Che Banca digital convenience branch exemplifies this approach, offering an ideal solution for high-traffic locations like shopping malls, railway stations, and hypermarkets.
1. Retail Cost Savings vs. Overall Profitability:
Many banks have turned to cost-saving technologies to develop new design concepts that minimise branch payrolls, often overlooking the negative impact on critical functions. While a high-functioning smart ATM can replace some frontline staff, it can lead to lost sales opportunities from teller referrals that once facilitated consultations and product sales. Customers accustomed to personalised service now face long waits at locations that struggle to handle increased traffic. Conversely, a branch experience centred around universal services can streamline staffing and maintain the essential sales and service components previously managed by tellers. The Che Banca digital convenience branch exemplifies this approach, offering an ideal solution for high-traffic locations like shopping malls, railway stations, and hypermarkets.
2. Putting the Consumer First:
Many tech companies entering the banking space excel because they prioritise customer needs from the outset. Born in the digital age, they have structured their business models around understanding Generation Y and their expectations. Traditional banks, rooted in analog systems, must adapt to remain relevant, embracing a customer-centric approach linked to their brand experience.
Many tech companies entering the banking space excel because they prioritise customer needs from the outset. Born in the digital age, they have structured their business models around understanding Generation Y and their expectations. Traditional banks, rooted in analog systems, must adapt to remain relevant, embracing a customer-centric approach linked to their brand experience.
3. Creating a Seamless Brand Experience:
The success of newer entrants and large technology firms lies in their ability to provide a seamless brand experience. Consumers have come to expect engaging and intuitive interactions from brands like Amazon, Uber, and Apple. If banks fail to deliver a comparable experience, customers will readily turn to alternatives. Digital payment options such as Amazon Payments, Google Wallet, and Apple Pay thrive because they are trusted brands built entirely around the consumer experience.
The success of newer entrants and large technology firms lies in their ability to provide a seamless brand experience. Consumers have come to expect engaging and intuitive interactions from brands like Amazon, Uber, and Apple. If banks fail to deliver a comparable experience, customers will readily turn to alternatives. Digital payment options such as Amazon Payments, Google Wallet, and Apple Pay thrive because they are trusted brands built entirely around the consumer experience.
Conclusion
In this evolving landscape, bank branches must adapt to retain customer loyalty and drive profitability. By reimagining branch design to prioritise digital integration, operational efficiency, and an exceptional consumer experience, banks can position themselves for future success.
In this evolving landscape, bank branches must adapt to retain customer loyalty and drive profitability. By reimagining branch design to prioritise digital integration, operational efficiency, and an exceptional consumer experience, banks can position themselves for future success.
If you're interested in discussing your bank branch design or refurbishment program, as well as your branding, digital, and social media needs, please reach out to us.
The images in this article have been sourced from the Internet.
