You can tell a lot about someone from their calendar. I don't mean whether it's digital or paper or whether in the latter case it represents your interests. That said, a look around any UK office will reveal Manchester United supporters, art lovers and friends of cat charities. Rather, what I am referring to is the entries attached to particular dates.

Anyone with access to my calendar will see I have highlighted conferences, overseas trips, team meetings etc. but also the timing of certain annual reports relevant to my work. I always have a two month view, which is why a recent glance revealed an item for April - publication of the JD Power Ratings. Published for the past twelve years, this report reviews bank customer satisfaction in the US and the changing factors that are affecting it. In recent years they have reflected a trend that has implications for all of us in the industry. Millennials (born between 1982 and 1994) represent 'the future of banking' and they value branch visits. Let me clarify, what the research has revealed is that overall retail bank satisfaction is significantly higher among those customers who have visited a branch within the last twelve months versus those who have only used digital channels.

The report, goes on to say, 'within the closely watched Millennial age group, satisfaction is higher when bank customers use both branches and digital banking channels'. In the US in 2016, 71 percent of Millennials used the branch, averaging 11 visits in the year and satisfaction levels were higher among those that did so.

The message is obvious - don't ignore the branch!

In a similar vein research by Cognizant has highlighted a survey carried out in Singapore. Cognizant has highlighted that while fewer customers interact with their branch, the scores for branch and personal banking touch points had a bigger impact on customer satisfaction ratings. They go on to say that there is a need to define the branch as a 'relationship management centre'.

In this context it is interesting to note a report from CFI Group which confirms that in the US in 2017 there was a reduction in bank customer satisfaction. The conclusion is similar to that of the Cognizant report - banks must reboot the customer experience in branches. 'As customers increasingly reserve branch visits for complex transactions, the role of branches increases as an important customer experience touch point.'

This is very much in line with our thinking at Glory. The research demonstrates that though digital channels play an increasingly important role, the branch visit is still viewed as important by younger consumers and plays a key role in determining customer satisfaction levels. At a time when customers are more likely to change their main bank, the bank branch cannot be ignored. All that said, the anticipated levels of service and customer expectations of the branch have changed. Simply providing a physical presence is not enough.

The CFI Group research concludes 'Instead of looking to fully automated branches, banks should retain staff for remaining branches while infusing the branch with new technology, creating an enhanced interaction between customers and branch staff. The technological improvements make banking smoother, faster and simpler, while the personal connection and assistance make it a great experience'.

At Glory we are working with customers worldwide to ensure their transformed branches deliver the services customers need, increasing satisfaction levels, improving customer retention, managing costs and enhancing the bottom line.