Traditionally, banks have viewed the online channels as competitive with bank branches. But that is rapidly changing. The combination of accelerating online channel utilization and the pressure most banks face to dramatically reduce operating expenses are leading an increasing number of executives to examine where the lines between branches and online channels are blurring. This presentation explores opportunities to marry the differentiating benefits of online channels with those of in-person, local branches to drive more fee revenue and deposits at a lower total cost than was achievable just a few years ago. It highlights how your competitors might utilize an integrated “clicks and mortar” strategy to attack your institution, steal your customers and reduce your profits.
Other key topics include:
-- Online channel innovations and the substitution/augmentation impacts on branch-based transactions
-- How online account opening and funding is creating new value for branch banking
-- The roles of online channels and branches in financial product shopping and purchase behaviors
-- Why online is not cannibalistic to the branch and why banks that don’t aggressively pursue deposits and payments online risk losing existing customers