Banks creating a better branch experience

The local NBC station in New York ran a story about how banks are changing to create a better in branch experience, writes David Polinchock in his blog The Experience Economist.

In particular, they were showing a new branch for the Bank of Smithtown, that included a coffee bar and a children’s play area. They spoke to the manager there, who gave one of the most compelling arguments for the need to create better experiences that David ever heard: “Typically a bank like this in the suburbs would do $1 million to $1.5 million a month (and) would be a fairly successful branch. When we first opened, this branch did a $1 million a week for the first 25 weeks.”

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