The era of phygital branch experiences

Branches serve a critical role for traditional banks in driving customer engagement and establishing long-term relationships. Branch experiences are now taking a new shape with new digital-first operating models that enhance customer interactions with the bank. We see a multitude of innovations in driving branch success, for example, fully automated bank branch, community hubs, and mobile branches.

In our recent LinkedIn poll, we asked – How should banks transform their branches to maximise their phyigital experiences and manage costs? 47% of the respondents state that virtual cross-platform branches are the future for banks. Hence, emphasizing the need to rethink the branch model and its success metrics.

We studied six branch transformation models in the digital era. We observe banks are building branches that encapsulate the customer trust with a physical presence, convenience with digital-first propositions, and comfort of social interactivity.

Take this fun quiz to test your knowledge of how Asia’s leading banks are transforming their branch and branch networks.

About the quiz:

• 10 multiple-choice questions
• Takes just five minutes to complete
• Each question has either 3 or 4 answer choices, please scroll down to view all of them.
• Regardless of a correct/incorrect answer, supplementary information will be provided
• After giving your responses to the 10 questions, click on ‘Submit’ to get your final score