The technology being implemented, mentality of branch staff, and the design of the branches are all working together to create a more retail-like experience without sacrificing the day to day needs of a customer.
Louisville, KY (PRWEB) August 14, 2014
Louisville, KY based technology company Codigo announced the release of a new report shedding light on the emerging branch transformation and technology trends happening throughout the financial industry. Codigo collected survey data from over 150 regional and local financial institutions across the country, inquiring about plans for retail banking centers this year and into 2015.
“Numerous institutions and Design Build firms have contacted us for ideas and consultation on technology solutions for new branch and remodel projects,” explained Brian Nutt, President and CEO of Codigo. “While we have experience with these initiatives, we found customers were seeking broader statistics focused on Banks and Credit Unions that represent a more regional and local scope, rather than an a big, national Bank. That was the intention of this survey,” added Nutt.
As financial institutions adapt branch strategies to stay relevant in a more mobile economy, the spotlight has been on larger institutions to see which way they’ll turn next. “Our report is a little different than what’s typically reported in the press,” says Matt Deaton, Marketing Manager. "All of the respondents were from institutions with no more than 250 branch locations, which actually represents the vast majority of banks and credit unions nationwide.”
In addition to the physical banking center, the report also discusses emerging trends among branch personnel. “We've worked with many institutions that are building or remodeling locations that are either cashless or have a focus as a sales tool rather than a transaction-based model,” says Nutt. “The technology being implemented, mentality of branch staff, and the design of the branches are all working together to create a modern retail experience without sacrificing the day-to-day needs of a customer,” added Nutt.
Visit Codigo to download a full copy of the Branch Transformation report and for further information on this topic.