Branching Out

I feel a little sorry for high street banks. Actually I better position this before you think that I am mad……I feel sorry for their branches!

 

I hear and see anger every day directed at banks……but it is the branches that cop it.

 

Bank branches didn’t cause the banking collapse – that happened much higher up the ladder. Yes we’ve all been annoyed by the overly enthusiastic cashier in a cheap suit asking when our insurance renewal is (etc.)……but they simply transmitted the policies decided at senior level.

 

However, the branches have been tarred with the same brush as they are the voice and face of a bank. Who else were we meant to blame?  

 

The times they be changing though.

 

Whilst banks are a necessary evil in many eyes, visiting a branch is not. Such is our loathing of bank branches that £1 billion of transactions are now done by mobile phone, tablet or internet banking. With 15,000 banking apps being downloaded a day, this figure will increase each week.

 

Voting with your feet……errrr phone….can only be a good thing I guess. This stops cross selling, mis-selling and any selling……leaving branches to think outside of the box to engage with customers.

 

Time will tell……but a fresh approach from branches can only be a good thing.