Branch Automation: Reflections and a Look Toward the Future
Conventional wisdom suggested for years that bankers could replace some of their branches with ATMs or kiosks, with the expectation of improving efficiency ratios and overall customer profitability – and banks have done a good job of persuading their customers to use less expensive, non-branch delivery channels. But many banks have come full circle in realizing that the branch network continues to play a vital role in establishing and maintaining relationships with both retail and commercial clients, across segments.
Over the past several years, there have been significant improvements in branch automation, allowing banks to leverage technology to achieve greater flexibility and free up their staffs to handle personal sales and service. In this Strategic Commentary entitled “Branch Automation: Reflections on the Past and a Look Toward the Future,” Speer & Associates, Inc. (S&A) illustrates the significant improvements over the past few years and provides insights into further advancements for branch automation technology.
