According to IBM Global Banking Leader Danny Tang, Branch Transformation is a top-down methodology spanning:
A Distribution Model
A Service Delivery Model
He proposes that we look at bank branches as one whole organism rather than separate units. The bank branches are made up of many resources such as people, machines, technology etc. Therefore, knowing where to distribute them is of huge importance. This is a basic supply and demand situation. We must recognise the demands of the areas we are in and supply the appropriate services accordingly to their needs.
Service Delivery Model
This refers to how bank branches deliver services to their customers. In the past it involved a customer walking up to a bank teller, making a request, the teller turns around completes the job and handing the customer a receipt. The ATM was next. The teller being classified as in-person service whereas the ATM as completely self-service. There lies an opportunity to find a middle ground in service delivery. Video is now a viable option. This is at the heart of Branch transformation as there needs to be a change in how the bank and their customers interact over transactions. . Without improving your Service Delivery Model, your ‘Transformation’ is merely a ‘Touch up’.
The technologies used are nothing more than product selection based on the demands identified, and service delivery chosen. Following the top-down process will inform branches to purchase equipment that will actually be useful rather than expensive investments that don’t produce value.
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