32 JANUARY / FEBRUARY 2022 You might be surprised that those in the financial design world struggle with the same questions that community bank leaders do when it comes to branch design. We often research and examine our own projects to determine what the branch of the future is, and where we go from here. Start by Playing by Retail Rules Beginning in the late 1980s, Ray Davis, president and of Umpqua Holdings Corp., revamped a small community bank over a 25-year period into the largest financial institution in Oregon. His unique vision and conviction transformed Umpqua Bank from $150 million in assets to $24 billion within that timeframe. His philosophy was to play by retail rules, contending that the top five keys to success are the same in both retail and banking: % Location % Marketing % Store/branch layout and appearance % Service % Bundled selling. A good start to a branch redesign can be to shift focus to researching retail spaces, determining what you like about the space, and what might be feasible and easily translated into a branch atmosphere. Take into consideration which design trends are fleeting, and which are here to stay. The ‘Four Cs’ as an Evaluation Tool Each financial institution is unique, but the four Cs apply to all. 1. CHANGE – It is inevitable, so embrace it. “The banking industry competitive battlefield has been altered significantly, and it will not return to the ‘good old days.’ In fact, the change we are seeing will never happen this slowly again.” – Jim Marous, owner and host of the Banking Transformed podcast. Change is the role of leadership and needs to happen from all angles. Identify the factors that will be instrumental in defining and executing changes: % Thought process % People needs % Facility needs % Technology needs % Presentation and delivery % Brand consistency. Which influential staff members can help get everyone excited and on board? How will you keep your community involved and abreast of upcoming changes? Is the needed change a repurpose of the branch as a whole, or of a portion of the space? What changing technology needs could be implemented, and in what branch(es) do they make the most sense based on individual market demographics? 2. CONNECTIONS – Make the right connections. The first step is knowing your consumers and demographics of the communities you serve, and then using that knowledge and insight to create engaging spaces and to draft clear in-branch communications that make connections easy. If there are specific tasks or services that seem too monumental to manage internally with your own team, it might be beneficial to delegate these roles to outside experts. Finding the right match can be a daunting task, but it pays to seek out expert consultants and to The Four Cs of Branch Design For evaluation and evolution PSP SHOWCASE Jeff Klump President K4 Architecture + Design jklump@k4architecture.com K4 Architecture + Design is a Preferred Service Provider of the Indiana Bankers Association and an IBA Diamond Associate Member.
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