In The Financial Brand, contributing author Sean Keathley shares real-world examples of branch optimization and budgetary spend
Friday, July 11, 2019 – Most financial institutions are aware they need change at the branch level, but tend to focus on the overwhelming prospect of a complete overhaul. In “Decision Time for Banks and Credit Unions: Optimize or Close Branches?” Adrenaline’s president & CEO Sean Keathley describes the “building blocks of change” where financial institutions look at the array of requirements across their networks and prioritize what each branch needs. He says, “Transformation is really blue-sky thinking – focusing on what could be in the future rather than what should be in the next few months.”
Let’s face it, change is hard. While most institutions understand they need change, they’re not sure where to begin. Sean believes that “Whether it’s because of acquisition or atrophy, the number of branches in a network in need of an update could intimidate the hardiest of banking brands. Realistically, what’s needed is progress — through a transitional, tiered approach.” From Refresh to Transform, understanding what elements can do across the branch network is a vital consideration.
Sean says, “As institutions consider the practical realities of network optimization, lower budgets result in a focus on visual features like exterior signage and interior design. In transitional spaces, the budget incorporates visual upgrades while functionality is assessed and augmented. With transformation, spaces are completely overhauled, deploying new zones of experience and incorporating operational efficiencies.” While many people talk about change, Sean’s approach actually displays best practice examples and describes what people can expect.