Critical Steps for Developing a Thinner Branch Network in 2021
Consumer’s evolving use of both location based and digital channels is changing the way that financial institutions are thinking about the number of branch locations needed to cover a market. While convenience is still a key factor in where consumers choose to open an account, the overall concept of convenience has changed.
Consumers no longer need to make frequent in-person branch visits for routine transactions. In many cases, they may only visit their branch location to open an initial account and visit again, maybe years later, to either open another account or to resolve a conflict. This is forcing network planners to rethink the traditional approach to market coverage as they ponder how to transform their networks and maintain their market position.
View this on-webinar to learn:
- How to identify the number of locations needed to achieve branch network targets
- Whether the traditional view of the number of branch locations needed to create critical mass in a market has changed
- What the impact is of consumers shifting from being dependent on branch locations to being influenced by their presence
- The key Data sources needed to help determine which branches/sites provide the greatest billboard value
- The impact of branch attributes on branch performance
- The role of Hub and Spoke strategies