New data and updated report surrounding the latest retail banking trends
Codigo releases 2015 Branch Transformation report, revealing the latest trends happening to the retail banking center
LOUISVILLE, KY (October 22, 2015) — Louisville-based technology provider Codigo today released their second annual Branch Transformation Report, a comprehensive survey of retail banking trends. By offering a side-by-side comparison of statistics with numbers from last year, the research reveals many ways in which the banking center continues to evolve.
“We’ve been consistently involved with new branch transformation projects across the country for the last several years,” said Brian Nutt, President and CEO of Codigo. “Working alongside our Marketing and Design/Build partners, we’ve consulted hundreds of institutions on technology solutions for their new and remodeled branches. Because of that, we are uniquely positioned to conduct research with the intent to publish it for the benefit of the industry,” added Nutt.
Of the myriad articles written about the future of retail banking, most seem only to report on the big national banks and what they are doing to adapt in a digital era. By contrast, the Codigo Branch Transformation report has a focus on community and regional financial institutions— representing the majority of institutions in the U.S. Comparing over 250 banks and credit unions by type and asset range, the report covers the year-over-year change in the physical branch size, employee headcount, and branch technology.
Additionally, the report presents data, confirming much speculation around the increase of institutions remodeling current branches to ‘improve the visitor experience.’ “We’ve heard our customers give this as their reason to remodel for quite some time— now there’s hard data to back those words,” notes Nutt. The report also includes findings that solidify other highly talked-about trends such as the decline of new branch locations and employee headcount. “We’ll continue to update and present this data annually,” says Nutt. “This is way more than a trend— branch transformation is a necessity for institutions today.”
Download a copy of Codigo’s 2015 Branch Transformation Report for further information on this topic.
About Codigo
Codigo is the retail technology provider of the financial industry. Providing innovative marketing tools such as digital signage, interactive kiosks, on-hold, and overhead music, their solutions transform banking centers into highly engaging environments. Located in Louisville Kentucky, the tech-company serves hundreds of financial institutions across all 50 states and internationally. Codigo is a privately held company, founded in 2004. For more information, visit www.gocodigo.com or call Matt Deaton at (502) 779-8981 x2008.
