DUBLIN, August 11, 2016 /PRNewswire/ --

Research and Markets has announced the addition of the "Omnichannel Banking and Branch Reconfiguration: Strategies for Lean Branching" report to their offering.

This research reviews how branches remain relevant and an important element in lean banking initiatives being considered in today's banks and credit unions.

The author believes that omnichannel banking and branch reconfiguration strategies can improve efficiency for banks, credit unions, and thrifts and contribute to profitability not only by reducing costs but through pleasing the customer. We dub this concept "lean branching" and believe it can support the broader goal of "lean banking," the concept based on the well-established principles of "lean manufacturing" which prescribe interactively eliminating inefficiency and waste in operations to continuously improve productivity.

Highlights of this report include:

Description of the evolving business models that offer the potential for great operational efficiencies and organizational effectiveness

Survey statistics on U.S. consumers' changing bank loyalty, use of self-service, and interest in advice and guidance from their banks or credit unions

Description of various channels configurations ranging from traditional full-service interaction with tellers to self- and assisted-service options within various branch business models

Illustrated examples of some of the many channels configurations being used by banks and credit unions

Overview of new lean banking concepts that include open branch layouts, investments in new technology, and areas for consultation and advice

"Financial institutions are experimenting with a wide variety of branch options that are highly efficient and offer hub-and-spoke configurations with various full-, self-, and assisted-service options," comments the director of Banking Channels Advisory Service and author of the report.

Key Topics Covered:

1. Executive Summary

2. Introduction

3. The Evolving Role of Branches

- A Tale of Two (Types of) Institutions

- Where the Branches Are

- What Was Old Is New Again

4. Bank Loyalty Is Waning

5. Self-Service Channels Complement Branch Capabilities

6. Interest in Guidance and Advice Is on the Rise

7. The Movement Toward Operational Efficiencies and Lean Banking

- Branch Reconfiguration Efforts Can Power Lean Banking Initiatives

8. Putting It All Together

- Offering a Great Customer Experience While Introducing Improved Efficiencies

9. Reconfigured Branch: Three Examples -

- Capital One 360 Cafés

- Chase

- Wells Fargo

10. Conclusions and Strategic Implications

- Endnotes

Companies Mentioned

- ACI Worldwide

- Capital One

- Chase

- FDIC

- Fiserv

- Wells Fargo

For more information visit http://www.researchandmarkets.com/research/27th6c/omnichannel

Sector: Banking

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SOURCE Research and Markets