Financial Insights Examines Key Touchpoints in The Branch of the Future
FRAMINGHAM, MA – JULY 8, 2003 – A new report by leading independent research and advisory firm Financial Insights examines both traditional and new branch touchpoints – the places where the customer and institution interact – looking at the changing roles that teller and platform will play in the delivery of traditional and nontraditional retail banking products and services. Financial Insights believes that an understanding of branch touchpoints is essential to both institutions and vendors, as it provides institutions with important guidance in directing branch initiatives and allows vendors to direct their initiatives to best engage the institution.
"We believe that the branch of the future will leverage Internet and Web technologies to create a much richer and dynamic delivery environment to the benefit of customers and branch employees," explains Richard Bell, a Financial Insights research manager in the Retail Financial Services group. "Branch touchpoints built around browser interfaces and Internet services promise to redefine interactions within the branch."
In the report, titled "Touchpoints: Branch of the Future" Financial Insights proposes that two broad forces are driving change within branch touchpoints: continued cost pressure driving a demand for increased branch efficiency; and new services, products and improved sales performance being imposed on the branch. These forces have created a difficult climate in which branches are being asked to be more efficient while doing more. Financial Insights expects these forces will endure into the foreseeable future as the branch’s role within the institution continues to evolve.
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About Financial Insights, an IDC Company
Financial Insights provides independent research services to users and providers of financial industry technology. The company was formed in November 2002 by combining Meridien Research and the IDC Financial Services Advisory group. The Retail Financial Services practice offers four areas of focus: Payments, Channels, Customer Strategies and Wealth Management. The Capital Markets practice offers Trading Technologies and all aspects of Risk Management.
The Corporate Banking practice covers cash management, wholesale payments, trade finance, and small business banking. Each practice delivers reports detailing new issues and challenges and uses its knowledge to advise clients on technology related decisions. Financial Insights is an IDC Company, headquartered in Framingham, Mass. Visit www.financial-insights.com for more information.
IDC is a division of IDG, the world’s leading IT media, research, and exposition company.