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What COVID-19 Might Mean For Your Branch Strategy

South State Correspondent

Chances are you were already reducing the number of your branches. Between the interest rate environment over the past several years, the increase in digital spend, and the quest for greater operating leverage, banks can no longer afford large branch structures and still return their cost of capital.

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Why Banking Strategy Should be Simple but Difficult

South State Correspondent

Part of a healthy banking strategy should be to focus on developing processes that gain a bank operating leverage. While we have discussed this in-depth HERE, certain projects have an outsized impact on the future of the bank. Banking needs to do less, not more. We need one good one.

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10 Data-Driven Ideas To Increase Branch Engagement

South State Correspondent

Despite that increase in profitability, banks need to be mindful of how they manage their branch and customer base to increase profitability further. The operative question is: given online and mobile banking, what is the new role of the branch? Branching is expensive – banks need to use the asset wisely.

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Making Banking Easier with Intelligent Branch

Cisco

Operational Excellence is also vital to reduce and simplify on-prem devices, and reduce energy required to operate customer IT facilities. Financial institutions are now working to build intelligent branches. The intelligent branch is designed to execute business with new efficiency. Intelligent guest wireless.

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Efficiency now: 8 smart strategy tips

Independent Banker

Consider your branch strategy. Assessing the value of bank branches is an exercise that began long before the pandemic, but vaccine and mask mandates added new considerations to the debate. Community banks need to take advantage of the digitalization of banking operations.”. ? Invest in tomorrow’s talent. Connors, Jr.,

Strategy 135
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Growing a new branch

Independent Banker

Providence Bank chose to open a new brick-and-mortar site during the pandemic, when many other businesses were ceasing operations or shutting down altogether. Back to branch strategy. Ted Whitehurst, Providence Bank president and CEO, led the charge to open a new brick-and-mortar location of the Raleigh, N.C., By Ed Avis.

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Steal This 5-Step Banking Innovation Playbook from Gentle Monster

South State Correspondent

months, including an annual operating cost. Add cross-selling, the value of current customer retention, and social media, and this might be your new branch model. Suppose a bank converts 400 of those customers into new accounts with an average profit of $230 per year (considering all their retail accounts).