Trends Report

European Banking Customers Continue Migrating Away From The Branch

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

October 28th, 2009
AH
Alexander Hesse
With contributors:
Benjamin Ensor , Courtney Tincher

Summary

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.

Want to read the full report?

Contact us to become a client

This report is available for individual purchase ($1495).

Forrester helps business and technology leaders use customer obsession to accelerate growth. That means empowering you to put the customer at the center of everything you do: your leadership strategy, and operations. Becoming a customer-obsessed organization requires change — it requires being bold. We give business and technology leaders the confidence to put bold into action, shaping and guiding how to navigate today's unprecedented change in order to succeed.