One of the most frequently used terms today in financial services is "branch transformation." For any FI the meaning of the term is clear — reinvention and reconstruction of the branch concept in a manner designed to reduce costs, increase customer loyalty and generate new business.

The transformed branch is smaller, leaner, more user friendly and more focused on bank automation technologies that allow customers to take care of simple tasks and free up tellers to do less currency counting and more customer sales and service.

On November 8, Diebold Inc. will present, "Branch Transformation: Preparing for tomorrow's dynamic marketplace." The free, one-hour webinar will present an overview of the instigators of branch transformation — and their implications, e.g., a smaller footprint for the branch, and the resulting cost savings, can be used to extend the FI's overall reach into the community.

Change-driving 'meta trends'

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Webinar presenters will take an up-close look at five "meta trends" — dynamic market forces that are currently driving the movement toward a streamlined, self-service-centered branch:

1. exponential technology change;
2. evolution of the experience economy;
3. growing consumer power;
4. changing demographics and the influence of the millennial generation;
5. the "new normal" in retail financial services.

Presenters will also lay out a compelling case for branch transformation — not only as a means to reduce overhead and onsite headcount, but also, and no less importantly, as a means to reinvigorate the brand and reinforce customer loyalty. In short, to make an FI and its services and delivery methods relevant and valuable to the banking customer of the future.

One FI's transformational journey

Diebold will present the case study of one FI that successfully reinvented itself at the branch level. From the experience of Austin, Texas-based University Federal Credit Union, webinar attendees will learn transformation strategies that they can apply to their own situation — and they will also discover why it's essential to custom-fit a strategy to their unique operating environment and customer base.

Finally, the webinar will present an overview of new technologies and solutions that can significantly reduce the number of expense-incurring transactions in the teller line and, at the same time, improve the overall experience of the customer in the branch and deepen that customer's affiliation with the brand.

Presenters for the webinar will include Steve Kubala, senior VP of operations and COO of University Federal Credit Union, and Raja Bose, senior director of branch transformation solutions at Diebold Inc.

Kubala will describe the challenge he and his team received in 2009 from the UFCU president to transform its branches from transaction centers into relationship-building centers while reducing annual operating costs. 

Bose will outline the benefits of such a project and will explain the strategy developed by UFCY and Diebold to achieve the FI's goals.

The 60-minute webinar will be hosted by ATM Marketplace and will take place at 2:00 p.m. EST on Nov. 8, 2012. Registration for the event is now open.