A recent research report from ForeSee analysed the way customers use retail bank services in an omni-channel environment and in particular considered the increased use of digital services in areas such as account opening. What the research revealed was though digital was an important part of service delivery for many it was not used exclusively, rather it was one element of a process that was frequently completed at a bank branch. The figures speak for themselves. When opening a bank account 61 percent begin with a digital channel but 58 percent of these complete the process at a branch.

The important thing here is choice. Rather than 'either or' many customers will be more comfortable combining channels. What's the lesson for retail banks? According to the research 49 percent of customers said that even if their bank's online functionality was ideal they would still visit a branch. The branch remains an important element of customer service.

To use a sporting analogy, when a tennis player develops a new shot he doesn't use it exclusively at the expense of all others, rather it becomes part of his all-round game, and, used effectively, enhances his performance and delivers better results. So, with omni-channel banking, digital services are part of a package, the effective player adds them to his repertoire but does not discard the core elements that have served him well for many years. Excuse the pun, but it's about improving service delivery.

That leads us to the other important aspect of the research - the importance of customer experience in determining the likelihood of an individual changing bank. Customer experience across all channels is 'a top business imperative and key differentiator'. ForeSee believes that those satisfied with their customer experience are 76 percent more likely to buy additional services, 63 percent more likely to continue a relationship with the bank, 86 percent more likely to recommend the bank and 58 percent more likely to trust the bank.

In determining what constitutes a good customer experience, digital delivery is increasingly important, but it's not everything. The report finds that consumers still want face to face interaction and that 'Branches still matter. A lot!'

At Glory our own experience is that the branch retains a key role in satisfying customer requirements. Evidence shows they still want face to face contact but their expectations and needs are changing. In an increasingly competitive environment service delivery is everything.  The branch must evolve in order to deliver the services customers still want in an efficient cost-effective manner.