As the industry evolves, retail bank buildings and staff sizes are getting smaller. The traditional banking branch is no more. There are many factors driving the shrinking retail bank location and understanding them helps optimize locations, both operationally and for customers.
KEY TREND DRIVERS
- The spoke and hub model
- Multi-use flex spaces
- Flex offices
- Shared sites
- Sustainable design
- Third-party partnerships
- 24-hour bank access
THE SWEET SPOT
A “make it small as possible” strategy isn’t always the best. There are key items that a bank needs to serve its customers. Understanding what’s necessary and the square footage “sweet spot” helps banks save money and serve customers better.
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