Brett King - Bank 3.0. - The oldest bank in the world today is Monte dei Paschi di Siena, founded in 1472 and it's original branch still stands in Sienna today. The oldest branch in the US is the Bank of New York, founded on 9 June 1784.
Materially, these branches don't look that different from most of the modern branches we see in use today. The primary activity was depositing and withdrawing cash. Despite the fact that consumer behaviour around cash has significantly change in the last 30 years (due to cards and ATM's) the branch generally still lags as a dominant "transactional" banking place. With transactional behaviour rapidly shifting, what's the future of the existing branch network?
The customer experience is no longer the sole domain of the branch, it's the domain of the brand. If I'm an average customer, I'm going to have access to your brand experience through an ATM, mobile phone, or the Internet, some 30-40 times more frequently than through a branch. Customer experience is emerging as the new holy grail of retail financial services, but the key lessons are not so much about the presence and service as they are about understanding the core needs of the customer.