BANK BRANCHES ARE IN A CONTINUOUS STATE OF TRANSFORMATION

Banks and consultants looked at “Hub and Spoke” models and determined that they could address the need to streamline and lower the total cost of branch operations, while still providing the ability to serve customers.

In considering the right size of branch networks, the first question might be: Who needs to be served in branches?

Despite the shift towards mobile and online banking, personal banking customers still value the branch. When they want human contact, the branch is their preferred option. Perhaps not as frequently as in previous years but there is no question that many personal banking customers rely on their local branch, and the demand is more significant from merchants and other Small to Medium Enterprises (SMEs).

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