Tag: Branch Profitability

What Machine Learning Taught Us about Our Branches

Branch Models

These days, if you want to make tough branch decisions, use a good college student instead of an experienced banker. We will come back to the college student but, in this post, we pitted experienced bankers against the latest branch models against the latest machine learning applications to see which method was more accurate at predicting branch performance. The answers will not only surprise you but what we learned along the way will help improve your thinking about branching, machine learning and the new paradigm of quantitative banking.

 

How Smell Impacts Branch Sales and Your Shareholders

How Branch Smell Effects Sales

Of all the human senses, smell is the oldest and happens to be hardwired directly into the hippocampus, or the place in your brain that handles memory and emotion. This is why certain branch smells can unconsciously make customers want to leave or put them in the state of mind to share information and explore different products. If you doubt the power of sensory stimulation, take our test below and watch sales increase.

 

Are These ATMs In Your Strategic Plan? They Should Be.

Channel Delivery

JP Morgan Chase’s new branch in the Texas Medical Center in Houston is special because of what is not in it – teller stations. Instead of a teller line, the new branch features an express banking kiosk or “EBK.” Basically a giant 21.5 inch iPad that customers can swipe, point and click to dispense cash in increments of $1, make deposits, pay bills, withdrawal up to $2,000 and even issue a new, permanent debit card.

 

This New Branch Opened Today And May Be In Your Future

Branch Delivery

PNC is underscoring the latest trend in banking of going to lower cost, more flexible branch foot prints. The Bank is experimenting with a 'pop-up' branch located in Chicago after they experimented with a similar structure in Atlanta.  The Chicago location opened today and plans to be there for three months before moving. The pop-up structure not only helps build the bank’s brand as a forward thinking bank, but allows an inexpensive way to open accounts, demo new products, talk about consumer lending and garner feedback from the area on if a future branch makes sense.

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