Last week from September 12-14, Adrenaline’s Sean Keathley was featured as a headliner at the Bank Customer Experience Summit in Chicago. The summit gathers together thought leaders from across the financial services industry to present best practices and leading edge innovations to help today’s retail banking institutions meet the demands and exceed the expectations of the next generation of consumers. Speaking at the Branch Transformation Case Studies session, Sean conveyed examples from retail brands that are successfully connecting with consumers. From exterior to interior branding in retail stores to staff and consumer cultural engagement, it all matters in the branch environment.
Sean Keathley says, “What we’re seeing is banks facing a new reality where there is the added challenge of branch transformation coupled with scaling their organizations. It’s hard enough to transform, but then you find out your bank is expanding branches into growth markets too. The prospect can be overwhelming with everything you have to do to be competitive. Banks today really can’t just stay still – overhauling security, turning over their websites every three years, adopting new ATMs when new backend software changes, and that doesn’t even address the physical footprint – the list goes on and on. It truly is a scale or sell mode for most banks. They’re either going to keep up or they are going to be going away.”
At Adrenaline, we’ve often said that the retail industry is the precursor to the financial services industry in terms of disruption, but Sean describes why it’s good to look at retail, not just from the industry standpoint, but truly from the eyes of the consumer. He says, “You know consumers today are not really comparing your bank to another bank when they step inside. They usually only have one bank. What you are being compared to is the brick-and-mortar retail store they’re also going to regularly. Your bank is being compared to the Apple Store and Chik-fil-a, not another bank down the block. That’s really important to consider when you’re looking at ways to transform your experiences.”