Pub. 1 2013 Issue 2

www.uba.org 8 maintain select full-service branches for personalized ser- vice, and provide access and convenience through a large number of self-service kiosks. Alternatively, in industrial/ business areas with a heavy deposit volume, banks should consider moving to a less expensive automated-transaction center model with more in-store/ corporate locations. In areas with strong small business concentration, banks should consider staffing branches with more business repre- sentatives and loan officers and establish business focused self-service kiosks for large transactions. For customers, a variety of convenient and tailored bank- ing channels may mean increased personalized attention, customizable access to expertise and consultation on an as- needed basis, and alignment with consumer preferences and the needs of their local market. For a bank, revamping the branch strategy may mean more efficient customer management, greater revenue through cross-selling, increased customer retention and satisfactions, and reduced costs associated with servicing a customer’s individual needs. Most banks find that branch transformation is a long-term pursuit. To increase branch value in the short-term, many banks are implementing complementary, smaller-scale initia- tives in parallel with their branch transformation including the introduction of new promotions, digital banking tools, and wealth management seminars, as well as improving the overall customer experience when visiting a branch. n If executed well, branch transformation can be mutually beneficial for banks and their customers. RyanJ.DentisaBanking&CapitalMarketsPartnerinPwC’sSaltLakeCityofficeandleader ofthelocalFinancialServicesPractice. ThebreadthanddepthofPwC’sexperienceinthe financialservicesandbankingindustrycoverstheareasmostrelevanttoUtahbusinesses, including technical accounting, regulatory, compliance, risk management, outsourcing, securities processing, payments, information risk and security, data quality, mergers and acquisitions, tax and other services. Our local financial services practice provides these services tomany of the top banking institutions in Utah. To explore additional competi- tive intelligence and a deeper dive into branch strategies please visit www.pwc.com/fsi or contact Ryan at (801) 534-3883 or ryan.j.dent@us.pwc.com. 1AmericanBankersAssociation,“ABASurvey: PopularityofOnlineBankingExplodes,” September 8, 2011, www.aba.com . 2 CEB TowerGroup, 2012. 3 PwC Survey of consumer retail banking, February 2011.  Rebooting — continued from page 7