Creating intelligent branch banking experiences to drive growth opportunities

Financial institutions are taking a fresh look at the brick-and-mortar branch – location, size, offerings, staffing and technology – to create a new banking experience for their accountholders. Innovative self-service capabilities such as interactive teller machines (ITMs) are at the forefront of new approaches to branch banking, blurring the line between the physical and digital worlds.

Far from becoming obsolete, the reinvented branch is a key growth strategy for many financial institutions, including Sunmark Federal Credit Union. To create a presence in new communities and strengthen bottom-line results, the Albany, NY, credit union recently opened two smaller, more digitally focused branches that feature self-service ITMs. Sunmark’s vice president and CIO, Darryl Enfield, said the response to the new branches has been overwhelmingly positive.

“Some in the industry say to abandon brick-and-mortar, stop building additional branches and move everything to mobile and online,” Enfield said. “But our members really do value the branch experience and have embraced self-service capabilities.”

 

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