How will branch banking evolve over the next five years?

September 30, 2017

A proliferation of new technologies, demographic shifts and nontraditional banking entities are driving retail banks to transform. Consumer expectations are also playing a significant role in how banks are evolving their operations to meet diverse customer needs. While many people are accustomed to conducting transactions at their local retail branch, a growing population increasingly uses mobile devices to open accounts, pay bills, deposit checks and sign up for text alerts and reminders. But when they do show up at their local branch to apply for a loan, make a payment or visit an automated teller machine (ATM) they expect exceptional service from branch staff who can quickly and seamlessly provide what they need. If they experience delays or discover that some services aren’t available (for instance if an ATM is offline), they can become annoyed fast and make their voices heard on social media in ways that can damage the branch’s reputation.

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Penn Mutual

Since 1847, Penn Mutual has been driven to create a world of possibilities—one individual, one family and one small business at a time. To do that, we work side by side with home office associates who are passionate about raising the bar—and then leaping over it. It's a culture of continuous improvement and learning, of collaboration and creativity...

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Since 1847, Penn Mutual has been driven to create a world of possibilities—one individual, one family and one small business at a time. To do that, we work side by side with home office associates who are passionate about raising the bar—and then leaping over it. It's a culture of continuous improvement and learning, of collaboration and creativity...

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