This much is certain: online and mobile banking are driving transactions out of the branch, pushing financial institutions deep into the digital ecosystem where other technology-centric companies — like Apple, Google and a number of Silicon Valley fintech startups — are playing an ever-increasing role in the financial lives of consumers.

A significant portion of consumers — including Millennials — are not completely satisfied interacting with their financial institution only through digital channels. When they need more complex financial advice, they head to branches for face-to-face interactions. However, many institutions still haven’t transformed their branch network to maximize these more complex interactions. They need to make a major shift in retail delivery from the historical deposit-centric focus to a more sales-centric model.

All too often the “old way of doing things” prevents change and thwarts progress, especially at institutions with decades of success under the traditional branch model. In that context, this article will review five obsolete practices that are holding the performance of bank and credit union branches back.

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