Branch Reboot: Why do we need branches, anyway?
As an industry, banks and credit unions have been so successful at persuading customers to move their simple banking transactions over to mobile, online and ATM channels, we are all now left with the question: what is the purpose of the branch? Is there still a need for them at all?
The answer is yes, and for several reasons.
Branch as brand headquarters
You see more and more consumer brands opening brick-and-mortar flagships – Nike, Samsung, Dyson to name a few. Is it because they expect these stores to offer a significant stream of revenue? No. These are showcase locations with...
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