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branch transformation
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branch transformation

Podcasts
·Sep. 2, 2022

Podcast 382: Laura Merling of Arvest

In this episode we talk with The Chief Transformation and Operations Officer at Arvest Bank, Laura Merling, as she discusses how to do digital transformation right, why it is about more than technology and what it takes to get everyone on board.
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News RoundupFintechUSA
·Feb. 27, 2018

Bank of America Announces Branch Expansion Plans

Bank of America is the second big bank, following JPMorgan Chase, to announce a big expansion of branches; the bank plans to open more than 500 branches over the next 4 years and hire over 5,400 people; they also said they will redesign more than 1,500 branches with new technologies and layouts; the focus of the plan is to establish more branches in mid sized markets that are typically dominated by regional banks. Source.

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News RoundupFintechUSA
·Feb. 6, 2018

Citizens Bank of Edmond Transforming the Branch Experience

Citizens Bank of Edmond Oklahoma is a one branch bank who has begun turning their extra space into a co working space for business clients; the space is now called Vault 405 and includes wireless charging stations, conference rooms and a podcast studio; CEO Jill Castilla tells Tearsheet, “The office space will be just as beneficial to the bank beyond loans and deposits, it’ll make us a better small business.”; this isn’t the banks first foray into innovation as they were ahead of their time on social media, video teller machines and mobile payments. Source.

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News RoundupFintechUSA
·Jan. 18, 2018

Citi’s Retail Banking Revenues Grow from Digital Strategy

Citi has reduced their branch network by more than 16 percent in the last two years and has plans to continue this trend; the bank has seen their retail banking revenues grow despite less branches as their digital channels have picked up the slack; digital users grew 13 percent and mobile users grew 21 percent as the company looks to expand their digital footprint; “We’re making investments in digital, and growing our franchise through digital rather than the physical footprint,” said CFO John Gerspach on an earnings call; the company has also looked to retool branches by rolling out digital aspects in the branch using computers and iPads. Source.

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News RoundupFintechUSA
·Jan. 4, 2018

Citizens Bank Looks to Transform Their Branch Experience

As banks look to reassess how to utilize their branch space, TearSheet took a close look at the Citizens Bank branch overhaul; the bank is looking to make the branch into digitally connected community centers; they are looking to reduce their branch footprint by 50 percent over the next decade and look to utilize the spaces they have better; less teller lines, more private meetings rooms and digital tools to help engage the different types of customers. Source.

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FintechUSANews Roundup
·May. 16, 2018

Beneficial Bank Looks to Mix Old and New to Stay Competitive

Beneficial has long used personal touch in banking, with a new age of banking upon us the bank is looking...
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FintechUSANews Roundup
·Feb. 9, 2018

Community Banks Fear Cafe’s by Banks Could Hurt Them

Banks like Capital One have been investing in creating a cafe style space where people can come to drink coffee and work while also having interaction with a bank but not in the traditional branch way; the idea is to have the bank maintain a presence, get deposits but not have a full branch; “If you can imagine people popping these things up — the competition for community banks would get overwhelming,” said Robert Mahoney, CEO of the $2.5 billion-asset Belmont Savings Bank in Massachusetts, to American Banker. Source.

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News RoundupFintechUSA
·Jan. 26, 2018

U.S. Bank Looks to Use Super Bowl to Build Brand

U.S. Bank plans to use the upcoming Super Bowl to build brand awareness; being based in Minneapolis, home to this year’s Super Bowl, will allow the company to utilize the game to increase local exposure; the company plans to run local ads during the game along with sponsored videos on social media channels; they also plan to use local Minneapolis space in coffee shops for example to have people interact with technology and compete for prizes; “We want to get people in the space, and help them get exposed to the brand and learn a little bit and get engaged in a fun activity,” said Chris Lee, head of sponsorships for U.S. Bank, to TearSheet. Source.

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News RoundupFintechUSA
·Jan. 16, 2018

Wells Fargo Increases Branch Closures As Customers Use Digital More

Wells Fargo has seen customers become more adept at using digital and plans to accelerate their branch closure plans; the company is looking to close more than 800 branches by the end of 2020; “Our vision of satisfying our customers’ financial needs remains unchanged, but how we execute this vision has evolved; this evolution includes developing new ways to more efficiently serve our customers and create a better customer experience,” said CEO Tim Sloan on a conference call as reported by TearSheet; the closures are expected the save the bank about $4bn. Source.

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