THE BRANCH OF THE FUTURE

As design professionals in the financial arena, it is not uncommon to hear “What is the branch of the future?” or “What is the competition doing that we should be thinking about?” This is a unique situation because there is not a clear direction that has been established. K4 is currently working on 15 to 20 projects and no two are doing the same thing! Community banks & credit unions need to be creative with their approach to the “Branch of the Future” because innovation is a proven path to differentiation and competitiveness. The mentality of “this is the way that things have always been done” needs to be completely eliminated and replaced with a long-term commitment to branch transformation that goes well beyond just technology upgrades.

Branch design is evolving in a number of ways, including, but not limited to:

The decreasing size and footprints of the facilities
The overall facility design, including exteriors and interiors
The shift towards a more retail-oriented space
The staff and types of personal services versus automation/technology
The new role of the facility itself within the community

The new design basis should consider that people need to connect with other people in order to feel confident about financial issues, but the delivery method can vary. Whether privately or in an open environment, or in a high-tech or more traditional branch – let people choose their preferred experience in order to create confidence.

Branch footprints will get significantly smaller as branches continue to evolve due to the changes and the types of services that will be provided. Multiple K4 clients have inquired about reducing the overall size of their prototype branches, as well as how they might be able to downsize their existing branches, and re-purpose the balance of the space for other uses or potentially other tenants.

From the branch exterior to the interior, it will be important to think about brand consistency. Branch exteriors will be more visible and inviting to members and customers and more in line with retail oriented facilities. The building exteriors will have an exterior branded theme, such as the iconic architectural element, and a consistent pallet of materials and vibrant colors, to capture people’s attention and make the building stand out from the competition. New branch facilities should also be transparent with lots of glass to convey the message that they are open and inviting. And finally, the overall curb appeal can be enhanced with appropriate landscaping and exterior lighting to make the building a beacon to the community both day and night.

Author’s Own Project Photos

From the interior, the primary lobby spaces will be open, inviting, and comfortable environments with attractive color schemes that make connections to the brand and to the community. The use of warm tones and soft curved features, combined with comfortable and attractive furniture, will add to the first impression upon entrance of the facility. Pods or customer interaction counters break away from the traditional barrier-type teller counters and offer a more progressive, collaborative, and open concept. Many clients say it offers a more personalized level of service. New levels of technology will be introduced such as smart ATM’s or Interactive Teller Machines where transactions are handled by real time video from staff that will be located in call centers or a centralized location.

Author’s Own Project Photos

Within the centralized open lobby space will be digital message centers, touch screen technology, virtual sales, and cross channel integration, which will become the normal mode of operation to provide a seamless and omni-channel branch experience. It is also important that the environmental graphics convey a sense of the local geography and a connectivity to the community and the history of your organization.

Author’s Own Project Photos

Although technology will be integrated more into the branches of the future, it will be increasingly important not to lose sight of the human element. People still want to have access to real people, and a trained staff needs to be accessible. The concepts of greeters and Universal Bankers or Universal Associates are introduced, who are well versed in all the services you offer, but are also very skilled in terms of communication and sales. As transactions continue to decline within the facilities, branches will transform from transactional based to advisory based training and sales centers, taking advantage of every possible client touch point, not to mention providing a better ROI for the bank by maximizing staffing and operational efficiencies.

Author’s Own Project Photos

Offices within the branches will be more visible and open, if they have offices at all. Not only will branches be designed with open counters, but there will also be spaces for social interaction and engagement.

Author’s Own Project Photos

The new facilities will be designed to promote an environment for guidance and instruction on how to use the new technology or make members or customers aware of the various products and services and offer alternatives that best suit their needs and lifestyle, to make the right decisions for their financial well-being. If they want a more private area to discuss financial matters or to review their options for services, branches will be equipped with conference centers or personal meeting spaces that are equipped with new technology and video-teleconferencing. If the Universal Associates cannot answer the question there at the facility, they can provide access through the real time video to someone who can answer their question or address the concerns.

Banks and credit unions should evaluate other non-financial services or product offerings that will bring the right kind of traffic into their facilities. Consider options like a mixed used branch – a café or coffee bar, meeting or huddle spaces, or space for social interaction to engage with the community and encourage repeat visits to the branch. In the digital age, many industries are trying new ways to get customers into their locations and increase their time spent there to foster relationship building and enhance customer service opportunities.

Author’s Own Project Photos

In order to stay competitive in today’s financial markets, it is important to be willing to change and adapt, or risk becoming obsolete. Today’s financial environment warrants not only the skill and will to adapt to change but also the foresight to anticipate it! It is crucial that community banks and credit unions know and understand the importance of their market saturation and the demographic make-up of the communities that they support. Branches of the future will need to be convenient, open, comfortable, and accessible to all ages; including the right combination of branch transformation elements – facility design, people, and technology integration to create a seamless banking experience and reinforce the ultimate customer relationship.

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PANTONE COLOR OF THE YEAR 2024 IN CORPORATE OFFICE INTERIOR DESIGN

By Jeff Klump • 20 Dec, 2023

In the dynamic world of corporate office interiors, staying ahead of design trends is crucial to creating spaces that not only inspire productivity but also reflect the latest aesthetic sensibilities. As a firm specializing in corporate office design, K4 embraces Pantone's Color of the Year for 2024 - Peach Fuzz. This warm and inviting hue offers a fresh perspective on creating contemporary workspaces that balance sophistication and comfort and an opportunity to infuse sophistication, and a touch of modernity into the corporate design landscape. Peach Fuzz, a delicate and nuanced shade blending peach and blush, brings a sense of tranquility and optimism to any space. When incorporated into corporate office interiors, this color has the power to redefine the atmosphere, promoting a positive and collaborative environment. K4 is committed to enhancing the workplace experience, and we recognize the significance of color in influencing mood and productivity.

FACILITY DESIGN FOR RECRUITMENT AND RETENTION

By Jeff Klump • 07 Nov, 2023

In the dynamic landscape of community banking, where the strength of relationships is paramount, the role of design extends beyond aesthetics—it becomes a strategic catalyst for talent acquisition and retention. In an era where attracting and retaining top talent is pivotal for organizational success, the significance of an intentionally designed workspace cannot be overstated. In this article, we delve into how strategic design decisions can not only enhance the physical environment but also foster a culture of engagement, innovation, and long-term commitment among employees, contributing to relationship building and the overall prosperity of community banks. Join K4 on this journey through the intersection of design and community banking, where the blueprint for success lies in the spaces we create for those who make our banks the heart of the community.

THE JOURNEY TO BRAND CONSISTENCY: PART II UNIFYING PHYSICAL & DIGITAL MARKETING ASSETS IN THE BANKING INDUSTRY

By Nicole DeRogatis • 07 Nov, 2023

In the previously published Journey to Brand Consistency: Part I, K4 addressed Facilities, Marketing & People as the three pieces that comprise the Financial Success Puzzle for community banks. This article examines one level deeper in unifying physical and digital marketing assets within the Financial Success Puzzle, and the importance of creating a harmonious and powerful brand identity across all platforms. In the fast-paced and ever-evolving community banking industry, maintaining a strong and recognizable brand presence is vital for success. As a full-service design and branding firm working closely with community banks, we have witnessed the transformative power of consistent marketing assets in bridging the gap between the physical and digital realms. By solidifying the customer experience across all touchpoints, banking institutions can establish a stronger emotional connection with their customers and create a lasting impact on their success. Investing in brand consistency is not only a strategic move but also a reflection of a bank's commitment to their own stability and future growth.

THE JOURNEY TO BRAND CONSISTENCY: HOW FACILITIES, MARKETING & PEOPLE CREATE THE FINANCIAL SUCCESS PUZZLE

By Jeff Klump • 07 Nov, 2023

Now more than ever, brand consistency is of utmost importance to financial institutions. Creating brand consistency goes a long way in building brand trust, increasing customer/employee/community loyalty, and impacting your bottom line. Why is there so much brand inconsistency in the community banking landscape? Because being brand consistent requires change and commitment, and it can be tedious and expensive. Taking the first step is often overwhelming. Where do you start? What do you update first? These are excellent questions, but there are other important questions to consider. What is the cost of NOT getting brand consistent or what is the cost or potential loss of creating brand confusion? Inconsistencies are costing your bank time and money. Not practicing brand consistency will cost you significant consequences to customer experience, brand reputation, and overall loss of trust – all of which can impact your bottom line. Conflicting brand usage accounts for a damage to brand credibility, making it harder to compete in the market. As K4 gets ready to hit the road in 2023, presenting at various community banking conferences on this topic, we thought it was important to preamble this timely subject of the Financial Success Puzzle. At K4, we define the Financial Success Puzzle as a 3-piece formula to creating and maintaining brand consistency for community banks. This formula is simply the act of connecting people to place and connecting brand identity to place. Many retailers have capitalized on this concept for years. Your branch facilities, marketing & people MUST work together to create stability and not only that…they must be triplets, not just siblings. They can’t just resemble one another; they need to be nearly identical in their delivery.

MAKING ROOM FOR THE COMMUNITY

By Jeff Klump • 08 Dec, 2022

For decades, small town business districts across America have featured a strong physical presence from a local bank perspective. Near the courthouse or city hall, these buildings are often identified by their traditional columns and prominent facades of brick or stone. Not only do these structures help establish the fabric of the streetscape; they often contribute to defining the social framework of the residing individuals and neighborhoods, supporting the hopes and dreams of generations. Community banks need to continue to reinforce their presence and values to those individuals and businesses in the geographic areas they serve. Making your bank’s physical appearance memorable, builds brand awareness and offers an opportunity to reinforce the benefits of banking locally which includes working with trusted friends and neighbors. Many community banks are exploring ways to create community space by revitalizing main offices and branch experiences while positioning themselves as a valuable and integral local resource.

SAME RETAIL BRANCH, DIFFERENT CUP OF JOE? THINK AGAIN!

By Jeff Klump • 07 Nov, 2022

Let’s first explore how the definition of the coffee shop has evolved…from simply being a beverage offered at a restaurant to an actual stand-alone destination, service and experience that provides and encourages co-working space, meeting opportunities, and community gathering.