Branch Transformation: Reinventing the Customer Experience Through Digital Growth

The path to branch transformation is a digital-first strategy.

Boston, July 7, 2021 –In 2020, the pandemic forced many financial institutions to reevaluate the role of the branch much sooner than expected. Without access to physical distribution points, many FIs are determining how to drive digital growth in what is now a digital-first world without a heavy reliance on branches. More than a year into the pandemic, many FIs are moving their focus from settling into the new normal and focusing on how to build, cultivate, and manage customer relationships in the next normal—a shift to a digital-first world.

This report explores the customer trends shaping the future of banking, the need to transform the role of the branch, how FIs can create value for customers in a digital environment, and the importance of facilitating the entire customer journey. It contains analysis from 23 in-depth Aite Group interviews with senior executives at banks, vendors, and consulting firms from various parts of the world from July 2020 to May 2021.

This 23-page Impact Report contains six figures and one table. Clients of Aite Group’s Retail Banking & Payments service can download this report, the corresponding charts, and the Executive Impact Deck.

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