October 28, 2009

European Banking Customers Continue Migrating Away From The Branch

Branches Are Losing Their Role As The Heart Of The Customer Relationship

by Alexander Hesse

with Benjamin Ensor, Courtney Tincher

Executive Summary (This is a document excerpt)

The number of consumers visiting branches each month is falling slowly but steadily across Europe. Branch users tend to be lower-value customers who use branches mainly for day-to-day transactions like depositing and withdrawing money. Although online bankers have stopped using branches for most routine tasks, they continue visiting branches for high-value tasks like researching and buying banking products. The role of branches is changing from the main banking channel into a supportive channel for sales and advice. To optimize branch distribution, channel executives should change opening hours, make it easy to set up branch appointments online, encourage high-value customers to come to the branch, and use technology to make branch visits more relevant.

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