News and Views
Retail Bank trends 2023, inspiring branch design and digital brand innovation at Virgin Money.
My local bank Virgin Money
During a visit to my newly refurbished local bank branch, I was greeted by a chic, contemporary interior with an urban design aesthetic that reflects the modern, fast-paced life of city dwellers.
Welcome to Studio B, the innovative brand and physical manifestation of CYBG PLC, now rebranded as Virgin Money. This branch showcases the bank’s digital ambitions and commitment to leading the future of the banking industry through innovation.
At Studio B, customers are immersed in a brand experience that integrates modern financial products, services, and tools to manage money and engage with the bank in new, dynamic ways. Located on Kensington High Street, the branch serves as CYBG's flagship high street office in London, sparking creative thinking around the future of banking and branding.
This is banking for today’s world. The branch offers a welcoming atmosphere with a friendly team ready to assist customers with all their financial needs in the simplest and most up-to-date ways. Whether you're here to manage your money or explore new products, you’ll be met with a warm welcome and cutting-edge banking solutions.
At Campbell Rigg, we believe that this approach to branding and branch design significantly enhances customer satisfaction, more so than the convenience of online or mobile banking alone. High customer satisfaction leads to increased loyalty, deeper product engagement, and a greater share of wallet. Satisfied customers are also more likely to recommend their bank and less likely to switch providers than dissatisfied ones.
The new branch concept at Studio B is not only for customers but also for the community. It provides co-working spaces for entrepreneurs, and a social media studio for creatives. The branch serves as a platform for social engagement, hosting a wide range of events including networking meet-ups, seminars, panel discussions, morning yoga, and evening gigs—all tailored to local market needs.
With Virgin Money, the bank has created a platform to engage customers on multiple levels, shifting the conversation from purely financial matters to broader themes of wellbeing—covering mind, body, soul, and financial health.
Looking ahead to 2023 and beyond, we see bank branch design evolving dramatically. With more banking services moving online, physical branches must become either far more productive or significantly more cost-effective. As a result, banks are experimenting with new concepts and layouts.
We expect these trends to accelerate as customer preferences shift. The traditional branch will remain, but in new forms—from flagship advisory and engagement hubs to compact smart kiosks offering services, sales, and remote consultations with specialists. Leading banks will quickly adapt by reducing branch sizes, integrating new technologies, and migrating basic transactions to low-touch digital channels.
Human engagement will continue to be key to brand success, even as digital channels grow in importance. Banks that fail to embrace these changes may find themselves at a competitive disadvantage. To stay ahead, financial institutions must rethink their branch networks, creating formats that deliver enhanced customer journeys, whether through expert advice, speed, or convenience.
At Campbell Rigg, our process of renewal enables us to continually benchmark and analyze the best retail banking trends across the globe. Please take a moment to explore other news items linked to this page.
Feel free to reach out and discuss how we can help with your retail brand, design, refurbishment program, or digital and social media strategies.