Why Online Sales Are Not Meeting Expectations

In 2007, The Council surveyed members on “what channels will best serve customers for purchasing products end-to-end?” for both 2007 (“today”, then) and in 5 years time (2012). Responses were unambiguous: a sharp decline in branch sales – from well over 80%, to just over 40% – and a sharp incline in on-line sales, from […]

What Does the Branch Do in a Multichannel World?

Traditional transactions are on the decline for banks around the world–even though for most, the overall volume of transactions is increasing. As the role of the branch changes from the centerpiece of distribution strategies to a component part, what can banks predict about its future form and purpose? For the customer: Customer relationships are moving from […]

How Quickly Will Branch Traffic Decline?

The branch has begun its predicted slide from prominence as the center of the bank/customer relationship. The number of branches, the number of tellers, and the number of teller transactions will continue to decrease through 2015. This is not necessarily bad news as banks have attempted to migrate simple transactions to alternate channels for decades, beginning […]

Projecting Rapid Growth for Online and Mobile

While its growth has slowed as it has reached maturity, the functions available through online banking continue to increase, thus driving volumes upward. Although online sales remain at only 1% of total volume, they account for the biggest change; new accounts opened are expected to double between 2010 and 2015. Service and payments volumes through the […]

A Whole World In Their Hands

In these days of post-recession malaise, there are two things at the center of every consumer’s life: Money and cell phones. It’s only a matter of time before these two merge, and we’ll all be paying for our groceries with a wave of our cell phone. Or will we? We know that consumers are eager […]