A New Bank Operating Model for a New Consumer

28 Jun 2017

by Anna Bennett

In the midst of bank branch closure programmes, it’s certainly no surprise that CACI have today released data to show that branch visits have fallen dramatically. This since the rise and rise of mobile banking. And the figures are expected to fall off a cliff into oblivion by 2022.

But are customers happy with the services that are available to them today? Plenty of other research suggests not.


Consequently, banks must continue along the path of finding a new bank operating model. This will facilitate them to fully and quickly embrace new technology. Almost certainly, customers will largely avoid the branch if banks have an effective digital strategy. And as the CMA have noted, this must start with things like eKYC.  Mobile account opening, mobile mortgage applications and so on.


Dramatic new ways of working can only be achieved if digital transformation is brought out of its almost-dormant state. Core infrastructures in banks are screaming at the pace of change. Incapable of taking on the challenge of being the hub of all digital services. Hence, these platforms must be left to ‘deliver the data’ with new services added on in the digital periphery. Technologists must work in cross-functional teams to design, deliver and re-iterate quickly. To do this requires them to pilot on a production-ready platform.


Ignoring branches and customer call centres altogether is not an option. Both must remain a shopfront for customer service excellence, matching services that are available digitally. In addition, there are many digital tactics, such as in-app messaging with the branch. This – and other measures – can help to be a slick crossover point.

Banks face a huge challenge in providing service in every desired form. And banks face the standards to which they provide them are constantly being upgraded by available technology. The answer doesn’t lie in doing things the same way.

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