Before location and branch design decisions are made take a step back and look at where you want to be in five or 10 years. Because the decisions you’re making now have a massive effect on what your credit union is able to do in the future.
Recently released, a global branch design report features 25 case studies from around the world including RATIO’s work for Island Savings. Published by a banking intelligence provider, Lafferty Group, the report is titled Digital Branch Design: Presence, Openness and Intimacy. Read on for a look at the published case study and more about the report.
Whether you call it ‘ future-proofing,’ ‘The Bionic Bank’ or ‘The Bank of Now’, they all refer to the strategic redefinition of the physical branch. It means ensuring they meet needs of changing populations, providing centres of advice for life’s milestone moments. People want face to face service for high-value transactions like small business loans, mortgages and life insurance.
The ‘Branch of the Future’ is member-focused and can adapt to changing demographics and expectations. Overcoming the disruption in the retail financial services sector requires insight and innovative thinking. Credit Unions have much to consider as they plan for the future. The so-called Branch of the Future is not a singular response, but an integrated solution that is customer centric and community relevant for each credit union brand. We offer some thoughts on how to plan for the Branch of the Future.