If you’re an expansion director responsible for optimising your branch network, it’s vital that you have the right tools to help you interpret your data. So why do you need to optimise your branch network in the first place? In a nutshell, so you don’t get left behind. Not only are customer perceptions of the usefulness of bricks-and-mortar branches very different to what they once were, but the financial services sector is currently undergoing a period of unprecedented change. No surprise then that according to a 2017 report by Efma and Synechron, only 8% of banks and credit unions said they were happy with their current branch network and had no plans to change their branch/design model.
As a branch network strategist working in an omnichannel environment, you want to be part of the progressive 92%. You need to make sure your branches are reflecting the ever-changing needs of your customers. You probably know all too well that there’s a growing tendency for customers to opt for internet/mobile banking and cashless transactions, but that there’s also a frequently neglected segment of loyal customers who still prefer person-to-person banking in-branch. But having access to these customer preference trends is not enough. You need a tool that visually locates all of your branch and associated data. And this is where a location software solution can help you draw better conclusions and refine your strategies. CleverAnalytics is here to help you do just that. For 3 helpful tips on how to optimise your branch network development goals, read on:
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