Qorus Banking Innovation Awards 2014 - Winner

Customer Service Model - branch concept

Submitted by

Swedbank

Logo of Swedbank

<div>Our roots are firmly entrenched in Sweden’s savings bank history, the cooperative agricultural bank tradition and...

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10/09/2014 Banking Innovation

About

A branch concept that has proven that banking is both somewhere you go and something you do.

Innovation presentation

Swedbank’s new branch concept has been designed to redefine the role of the branch and align with rapidly changing customer behaviours and the digitisation of everyday banking. It is the result of a new channel strategy that includes branches, digital channels (internet and mobile banking) and telephone banking.

Key features:

• Two formats: advisory and service branches, depending on the customer’s needs

• Cashless branches where the customer is trained and guided on how to carry out their banking business in the channel that is most efficient for their needs and preferences

• Video banking in service branches allows for efficient use of advisor capacity in low growth areas

• Displays and markets the banks offers, products and services

• New ways of working include a welcome host who dispatches the customer to the right service and solves simpler errands right away

• Significantly smaller office area needed than before. Established in areas with a natural customer flow, easily accessible and with high advertising value.

The design project involved a cross-functional team including Swedbank’s selected partner for service design and architecture. It started with a service design phase inspired by the physical marketplace and retail business. The concept is now fully developed and has been tested in two branches. Modularisation is almost complete and branches that need to relocate, renovate or refurbish will adhere to the new concept from now on.

To date, the new concept has:

• Improved customer satisfaction

• Empowered employees

• Ensured streamlined workflows and greater efficiency

• Increased sales

• Reduced costs.

Uniqueness of the project

The new branch concept will make Swedbank a leader in physical banking interactions and help it to attract new business. It is the result of some disruptive innovations (cashless branches, video banking and the elimination of the physical queue system) and incremental innovations like new roles (welcome host), new ways of working, and improved design and use of printed and digital marketing materials.

Some key features:

• Two formats: advisory and service branches

• Completely cashless, no ATMs

• Video banking ensures efficient use of advisor capacity in the telephone bank

• Offers, products and services are displayed and marketed in an inspiring way

• A welcome host solves simple errands right away and manages customer flow during peak hours, as there is no queuing system.

• New way of working include training and guiding the customer to use online banking services

• Significantly smaller office area required compared to previous concept.

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