Branch still matters – but are you giving users the channels they want?

These days, banking isn’t just about the branch or the contact center. Today’s consumers expect a full range of channels that allow them to bank how, where and when they like, and this is something that financial institutions have to respond to.

This means delivering a comprehensive omnichannel experience that ensures customers are able to conduct the activities they what on the platform they want, without having to compromise on features or user experience. However, it seems not every customer is actually receiving such a service.

Consumers still reliant on the branch

A recent study by Bain and Company of US banking consumers, for example, found that millennial customers – those normally thought of as ‘digital natives’ – remain reliant on in-branch services. It noted that while 82 percent of these customers had adopted mobile technology, 86 percent had still visited a teller in the last three months.

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