Antuar #ElephantInBranch Report 2019—Send Us Your Feedback

Mark Charette of Solidus is featured in the 2019 #ElephantInBranch Report from Antuar, a must-read for financial institutions.

Click here to read the Antuar Branch Transformation Report #ElephantInBranch

IBM’s Danny Tang explained Branch Transformation Methodology (BTM) in amazingly clear terms recently in a new Antuar report entitled #ElephantInBranch.  The report investigates what constitutes “Elephants” in today’s branches, and comes up with a lot of real-world examples.  Glory’s Brian Porter also contributed his guidance to the report, which is an extensive collection of statements and quotes from some of the industry’s leading lights.  Solidus’s own Mark Charette was also a contributor, offering words of wisdom we hadn’t published before.

Antuar's #ElepehantInBranch Report covered most if not all the pressing questions surrounding branch transformation.

Danny Tang of IBM spoke about footprint reduction and strengthened customer relationships as part of his contribution to the Antuar report.

 

What is the Value of Branch Transformation to the FI?

Three Questions Financial Institutions are Asking Themselves

#ElephantInBranch is organized into several sections.  The report begins with a three-part section, each asking an important question about the health of branches and whether we should even keep branches at all in this increasingly digital age.  The third question (Q3) asks, “What is the Value for the Financial Institution (FI) in Branch Transformation?” This is a subject close to our hearts here at Solidus, as it is a question many FIs are asking themselves and, let’s face it, speaks directly to our own bread and butter.

What is the value of branch transportation to the financial institution?

What is the value of branch transportation to the financial institution?

 

The Primary Goal of Branch Transformation

IBM’s Danny Tang answered this partly by saying, “Financial Institutions in mature economies tend to benefit the most from footprint reduction and strengthened customer relationships.” Brian Porter focused on customer experience by pointing out how improved customer experience results in customer and staff retention, as well as improved sales and labor reduction for low value transactions. Frainc Reid of Antuar said it like this: “The primary goal of any Branch Transformation is to reduce the cost/income ratio while improving customer experience delivered by things such as: Automation, Training, Staff Engagement, Branding, and Systems.”

The report on branch transformation was put together by Antuar, and covers many pertinent aspects of retail banking as it is today.

United Bank in Greenwich, CT. Branches are sleeker, more efficient, and fresher-looking than ever before.

Mark Charette answered this particular question by saying that the “most obvious value for the FI is in the cost savings that better efficiencies and space planning will provide. This can be a significant figure over time.”

Community banks and credit unions are now built to be streamlined and designed to the preferences of their market demographic.

Efficiency, technology, and community history; three key branch components of this transformational age.

 

Feedback From Bankers Needed

We had a lot of fun doing this. The diverse combination of industry voices provides a comprehensive source of information that many FIs urgently need to surmount the negative effects of outmoded strategies and technology. We hope you enjoy it as much as we did. And most importantly, we are always grateful for feedback from bankers on how to make this report better when we put the 2.0 version together. Feel free to contact us with your own take; we’re sure you’ll have noticed anything we’ve missed out!

The 2019 Antuar branch transformation report is called "Elephant in Branch" and deals with all aspecs of the branch transformation process.

Marilyn Carpenter of Source Technologies spoke about tellerless branches, self-service technology, and universal bankers in the report.

Click here to read the Antuar Branch Transformation Report #ElephantInBranch