Felix Wenger, Head of Channels and Distribution for Raiffeisen Bank, took a walking tour of London banks and retailers with branch experience experts allen international to learn about the latest branch designs and customer experiences. During the tour, they visited established banks like Lloyds, Barclays and Santander that have shifted to more open, customer-focused branch designs with self-service options. They also saw new entrants like Metro Bank, Virgin Money and Studio B that each offered a distinctive customer value proposition through features like pet-friendly facilities, late hours, and digital workspaces. A key lesson was the importance of well-trained staff who understand their brand's mission and provide excellent customer service.

1. LONDON WALKING TOUR
What lessons can
be learned from
UK Banks & Retailers?
Branch experience design experts allen international,
hosted Raiffeisen Head of Channels and Distribution, Felix
Wenger, for a walking tour of London in search of the latest
and greatest on offer from the UK’s banks and retailers.
With over 25 years of experience across 350+ financial
service brands, in global markets, allen are well
positioned to comment on the influences and trends that
are front of mind for retailers and bankers alike.
The drive towards digital channels, smarter more
demanding customers, lack of trust in banks and a
multitude on new and digitally empowered challengers, has
finally driven the UK retail banking experience out of the
dark ages.
During our day in London we visited established players like
Lloyds, Barclays and Santander, all of whom have changed
to a more demonstrably customer focussed branch experience,
with open banking halls, brand driven interior designs, and
extensive self service facilities. The focus has shifted from
counter transactions to better customer service and more
convenience.
We also visited new market entrants like Metro Bank, Virgin
Money and Studio B (from Clydesdale Bank), each of whom
had a noticeable point of difference from the afore mentioned.
Metro Bank offer market differentiating facilities, simple things
like dog friendly, kid friendly facilities, safety deposit boxes, and
7 day open till 8pm, all managed by exceptionally well trained
staff, who know their brand and live and breath the values of the
bank (very impressive). Studio B are digital only, lots of learning
facilities and a permanent ideas think tank workspace, with a
great organisational programme behind it. Finally Virgin Money,
we visited one of the 8 city located ‘Lounges’, any customer with
a Virgin Money product is allowed access to the lounge facilities,
and can simply rest from shopping with free refreshments, host
private meetings, organise charity events, watch movies, link in
with the Virgin brands family, or use the transactional facilities
and expert advice.
None of the Banks were doing everything right but there were
many lessons to be learned from each. The key take aways
from the day must start with branch staff, it was highly apparent
in Metro and Virgin that the staff were extremely well trained
in their brand’s ethos, and in excelling at customer
service.
So what can we learn from what we experienced, and
what opportunities do they present when developing the
branch experience of the future.
allen international project
allen international project
allen international project
SEPTEMBER 2017

2. Breaking with traditional refurbishment cycles, retailers
and banks are now adopting an agile approach first
proved in the IT world of App and web development.
Utilising a test and learn iterative process, brands can now
get their new concepts to market quickly. Unencumbered by
the ‘Whole Network’ Roll out mentality, refurbishment cycles
can be dropped in favour of small batches that test a
concept, improve upon it, and move it on to the next batch,
an iterative and constantly moving approach.
Branches can be tailored to meet specific needs, keeping
costs under control, and avoiding the ‘major refurbishment’
scenario.
• Better control of refurbishment budgets
• Always up to date with needs and technologies
• Flexible formats rather than fixed branch types
• Localisation and community focussed
• Rapid concept testing
• Brand focussed approach
• Data driven approach, reduces risk of failure
• Content backlog for the following month
Felix Wenger (Head of Channels & Distribution, Raiffeisen)
“Agile branch concepts are needed for fast changing customer expectations. New requirements need to
be embedded in a cost efficient way in 6-9 month sprints and not in 7 year refurbishment cycles.”
“We need to learn to adopt the modern IT development methods, such as A/B Testing and re-iterative
sprints, into the physical world. Branch concepts need to accommodate for this.”
Separate Shell from Component

4. Contacts - nicolas.preece@accenture.com | connie.lo@accenture.com | www.allen-international.com
FOR MORE INFORMATION