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As in so many things in life, success in branch transformation is all about thorough, careful groundwork.

The recent webinar, “Clearing the path for branch transformation: 3 management tactics to succeed,” offered the blueprint for a foundation of omnichannel integration that supports branch transformation.

The one-hour event was presented by Inetco Systems Ltd. and hosted by ATM Marketplace. Speakers for the webinar included Stacy Gorkoff, VP of marketing at Inetco; Lisa Kellermeyer, marketing manager for global systems management at NCR Financial Services; and Martin Shires, marketing manager for global branch transformation at NCR Financial Services.

Shires started off by explaining the demographics that make it essential for banks to unify their digital and branch strategies, citing research from Capgemini.

“FIs globally want 56 percent of their low value, volume product sales to be through digital channels. Conversely, both Gen X and Gen Y customers globally say that 53 percent of their low value, volume product purchases should be through the branch.”

Additionally, Shires said, both Gen X and Y customers follow the same buying process. More than half of them want to research and review products on the Internet, but they prefer to conclude the sale in the branch.

“Clearly there is a high disconnect between FI’s current digital migration strategy, and what their mass affluent and future customers prefer,” Shires said.

Gorkoff expanded on his comments, describing the form and function of the transformed branch, which she said would be physically smaller; focused on Gen X and Gen Y customers; and equipped with advanced ATMs and digital touchpoints, all with centralized history and visibility.

Reprinted with permission from ATM Marketplace

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