Celent has released a new report, titled, Retail Banking Channel Systems in North America: The Quest for Omnichannel Continues. In it, their survey reveals some interesting branch trends in North America:

  • a third of surveyed FIs expect no change in branch count over the next five years,
  • 40{91edff4ab0179c213d4d62ccb73735ad51d636906a6f58336791bd911b76df7b} expect a net add in branches,
  • just 25{91edff4ab0179c213d4d62ccb73735ad51d636906a6f58336791bd911b76df7b} of FIs forecast a decline in branch count.

It appears that the branch is far from “dead”!

Of course, they also found that most FIs are actively looking to expand their digital offerings, and actively engage consumers via online and mobile channels. Yet the research firm believes that capabilities are lagging these desires. Case in point: 1) less than one in five FIs offer shopping coupons, discounts, or rewards programs online; 2) fewer offer text or video chat options; and 3) fewer still offer online/mobile appointment booking.

Key Takeaway: Of the 3 points listed above, online/mobile appointment booking presents the easiest path to driving branch sales, boosting member service levels, improving staff productivity, and creating a positive link between your branches and your digital channels.