Branch network

The role of branches in consumers' lives may be changing in the digital age, but brick-and-mortar locations are here to stay. To adapt, Citizens Bank has begun a "10-year process" of retrofitting its branch network.

The acquirer of the failed Guaranty Bank took a pass on the latter’s 107 in-store branches, leading to their shutdown and a disruption in service for many low-income customers.

Even as units of a larger holding company, local banks fight the perception that they can’t provide sophisticated services like corporate or private banking. Executives say that unifying the brand will help Synovus better compete against larger players.

A freewheeling discussion (over beers) about the future of branches with Tom Brown of Second Curve Capital and Dave Martin of BankMechanics at the Trump National Doral hotel in Miami during American Banker’s Retail Banking 2017 conference.

In the near future, branch authentication will likely rely more on things like iris scans and palm readers than physical ID cards.

These execs say they are finding ways to reduce fixed costs in areas such as branching and personnel, offer appealing tech, yet provide in-person services when customers have concerns.

The deal includes $52.6 million in deposits and $13.2 million in loans, and the bank has indicated it plans to close two more locations in Wisconsin in June.

The company will sell five branches in Wisconsin to an unnamed buyer. It also plans to close two locations.

The executive tasked with rebuilding trust in the retail bank discusses how employees reacted to its new incentive pay plan, why Wells stopped calling its branches "stores," how it now prevents salespeople from impersonating customers, and more.

A faster network is letting the regional bank bring new technology into its branches and share data with fintech partners via APIs.