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Branch Evolution: How Has the Pandemic Changed Branching?

September 30, 2021
Caroline Vahrenkamp

Since the pandemic, consumers’ motivations for branching have changed. Pre-pandemic, millennials largely viewed branches as transactional locations. Now, they turn to branch staff for financial advice. Believe it or not, millennials are using branches more – and older generations are going digital. This report revisits research Raddon conducted in January 2020, just before the COVID-19 pandemic disrupted life and banking as we knew it. By re-issuing the study, we compared how consumers of all generations viewed and used branches before and after the pandemic. We also learned which pandemic-driven changes could be here to stay and offer insight into strategies and features branches need to serve all accountholders well.

Price: 
$1,500.00

Inside the Report

Table of Contents: 

Executive Summary
3
How the Pandemic Changed Branch Usage
7
Banking Preferences
11
Branch Expectations
17
Physical Self-Service
22
Reactions to Branch Closing
27
The Most Frequently Visited Branch
33
Four Branch Models
42
Summary and Strategic Considerations
49
Appendix
55
About
60

Sample Chart(s): 

Study Statistics: 

DATE PUBLISHED:
September 29, 2021
AUTHOR:
Caroline Vahrenkamp
NUMBER OF PAGES:
61
PRICE:
$1,500.00