We continually benchmark the best in class retail bank and financial services operations across the globe. At the ANZ bank, new branch formats are emerging. In this article, we present images from the ANZ Grow format, a wealth branch format to inspire management teams to consider re-engineering the point of purchase.

The in-store design experience in today's retail world is about far more than just the products. This concept is an integrated digital and interior design experience. It's about injecting creativity and design to put new momentum behind the retail proposition.

Generation Y has the web at their fingertips, 24/7 info-mania. With customer reviews, forums, social pages one click away, you can't hide your mistakes from them. You have to be totally honest and transparent about the digital solutions you are trying to sell them. It is important, to be honest from the beginning, and that includes whatever bugs or shortcomings you are still trying to sort out.

As Generation Y fast became one of the largest banking generations, many banks and credit unions initially underestimated their demands and relative buying power. As a consequence, they found themselves scrambling to catch up, as more digital fintech disruptors. Banking providers cannot afford to make this mistake again.

Gen Z may have a shorter attention span, but that does not mean they are any less complex or demanding when it comes to their financial needs and services. Think of Gen Z as the Generation Y 2.0, they expect more out of their technologies than their predecessors and have an even lower tolerance for hiccups in mobile and digital channels. Anything that isn't both powerful and easy to use will likely be met with severe criticism.

It's essential that financial marketers think about how Gen Z, as the “Venmo Generation”, thinks about their money.

If you're over 40, you probably don't open Venmo on your mobile daily. But for Generations X, Y and Z it's hard to imagine life before the money transferring app. “I'll Venmo you” has become deeply ingrained in the 20-something language and the idea of using cash to split payments is virtually out of the question.

On the rare occasion someone doesn't have the app, their friends typically encourage them to download it to make splitting checks, paying rent, and any other peer-to-peer transaction easier. This process has propelled Venmo to ubiquity, becoming the standard among Generations Y.

Through transparency that builds trust financial marketers must stay on top of technology trends, market research and user studies to achieve an edge over their less responsive competitors. Market trends and research may seem like a dusty approach, but mobile technology in an app-based economy is bringing access to a new data streams and new insights into consumer demographics of that financial institutions can't ignore.

Why not call and talk to us about your retail branch design installation, digital branding and social media requirements.