Chase makes bold statement with stunning new flagship branch
On the heels of shutting down digital app Finn, Chase unveils a new flagship branch in hometown New York City with a huge footprint, lots of human involvement and technology, and new ideas in consultative spaces. CEO Jamie Dimon used the grand opening to throw down a gauntlet to archrival BofA.
In one morning, Chase Bank made its ambitious plans for building more branches around the country more concrete than ever by unveiling its “flagship branch,” reemphasized the importance of face-to-face banker-to-customer contact, and sent Bank of America fair warning it was going to put boots on the ground on its home turf.
As the bank unveiled its 12,500 square-foot high tech/high touch branch, Gordon Smith, Co-President and Co-Chief Operating Officer, and Consumer & Community Banking CEO, gave a powerful endorsement to physical banking. His words came not long after the termination of the megabank’s Finn mobile bank brand.
“Branches are the heart of the company,” said Smith, speaking to a crowd of Chase employees and media. “Whenever we move into a new location, it’s the branch that drives all of the business we do.”
“We hear an awful lot about, ‘Will branches exist in the future?’,” continued Smith. “The answer is a very resounding ‘Yes’. We have more than 5,000 branches and more than a million people go through those branches in a day.”
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