World Bank Branch Transformation Thematic Intelligence Report 2023
Dublin, March 10, 2023 (GLOBE NEWSWIRE) -- The "Bank Branch Transformation - Thematic Intelligence" report has been added to ResearchAndMarkets.com's offering.
This report analyzes the changes branch banking is undergoing as a result of the trend towards digitalization.
The technological innovations and economic trends changing the way in which branch banking is being provided are noted and their implications are discussed.
Several key innovators in the area of branch transformation are mentioned and the changes they have made are identified. These case studies provide useful examples of ways in which banks have adapted to meet consumer demand for in-person banking in a time where more and more banks are moving their services online.
When thinking about bank branches, many believe that they are a relic of the past that will eventually fail to withstand the waves of automation and digitalization.
However, even though data undeniably point towards a continuous drop in the net number of branches in most countries, the fact that banks have carried on opening new branches and invested considerable sums in rethinking their physical channels means branches will remain part of high-street landscapes for the foreseeable future.
Moreover, while some aspects of branch transformation have been in response to lower profit margins and the COVID-19 pandemic, other aspects represent strategic efforts by banks to expand their client base and deepen and upgrade their customer relationships.
Even though only around 15% of customers never go to branches, customers who rarely use branch services constitute the largest group (39%)
Clear and simple-to-understand financial products, easy access to branches, and helpful and knowledgeable bank representatives are all relatively important factors that at least 10% of customers consider in choosing their primary bank
In 2020, as a response to COVID-19, DBS embarked on a plan to transform a third of its branches over the span of a 18 months
Reasons to Buy
Understand key technology, macroeconomic and regulatory trends characterizing the transformation of branch banking
Access the latest consumer survey data on preferences regarding branch banking
Identify the key innovations being made by banks that will change the way branch banking is conducted in the near future
Access firm-level insight on leading players within the branch transformation theme
Key Topics Covered:
A selection of companies mentioned in this report includes
For more information about this report visit https://www.researchandmarkets.com/r/lx5ox2
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