A Branch Platform Perspective
The purpose of this paper is to stimulate a discussion about the customer experience within the context of the transformation of the retail bank branch. This conversation focuses on the diverse roles of people, processes and technology within retail banking and the value of the Branch Platform to address strategic growth within the Branch Transformational initiatives.
While acknowledging the reducing number of ATM transactions, we notice that fewer customers are visiting the branch and therefore we see an urgent need to rationalise or transform the branch format. This discussion aims to fully leverage the power of the Branch Platform and exploit the balance between full automation and personal engagement with a view to transform the customer experience at the branch.
We also appreciate that multiple strategies are being executed across the enterprise and we cannot treat the branch in isolation. Cost reduction will always influence these strategies and highlight the need to exploit existing infrastructure, especially in the retail branch network where multiple customer channels can combine. The widespread acceptance of Internet, mobile and self-service banking is a strong indicator that customers prefer an efficient, personalised interaction with their financial services providers. Combining these essential channels with the power of the existing retail branch infrastructure has the potential to unlock a strong economic advantage.
These principles are the foundation for the ARCA approach to Branch Transformation, i.e. looking at the new Retail Banking through the strategic lens of customer-driven revenue growth objectives while leveraging the sales strengths of the existing Branch Platform.