News

Study: Banking's branch of tomorrow

September 27, 2013

In new research, "Arriving Now — Banking's Branch of Tomorrow," Mercator Advisory Group reviews continuing evolution of branches today in banks and other financial institutions, according to a news release about the study.

"With recent advancements occurring in the self-service banking channels — including ATM, online, and mobile banking — coupled with an expansion of teller duties in both full- and assisted-service roles, branches continue to evolve at many financial institutions, with branch reconfiguration at the center of many FIs' branch strateg[ies]," said Ed O'Brien, director of the banking channels advisory service at Mercator, and author of the report.

Highlights of the report include:

• trends in the number of U.S. institutions and branches;
• deposit and asset indicators as to when or whether a bank should revise its branch strategy;
• Primary data from Mercator Advisory Group CustomerMonitor Survey Series on consumers' branch use and activities, and their preferences in banking service communication;
• Description of new, tiered branch configurations, from minibranches to flagship branches;
• Examples of ways in which branches are evolving to use new technologies that improve efficiencies and the customer experience; and
• How branch renewal can facilitate opportunities for revenue generation along new business lines.

The report is 24 pages long and contains 15 exhibits. One of the exhibits:

Read more about trends and statistics.