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Bryan Yurcan
Bryan Yurcan
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Another Take on the Branch of the Future

Wells Fargo this month announced the opening of the first of what it says will be a new bank branch format.

There has been much debate in the banking industry over what the "branch of the future" will look like. Last week, Wells Fargo announced its vision of the next generation branch, which it is calling the "neighborhood format."

These branches are approximately 1,000 square feet -- about a third of the size of a typical Wells Fargo branch -- and will offer personalized service in settings not suitable for its larger stores.

Here's a look at some images of the first Wells Fargo neighborhood store that opened in Washington, D.C. in April.

1. A New Design

Here is a view of the large-screen NCR ATM that will be part of the new branch format. ATMs that dispense $1, $5 and $100 bills will be available in addition to the $20 bills a typical ATM offers.

During business hours the yellow doors behind the ATM open up, revealing a private area for customers and team members to have one-on-one financial conversations, the bank said.

2. Sales and Service Focus

The new Wells Fargo store model features wireless tablets and phones that team members are able to use to serve customers. According to Wells Fargo, the new store was designed to create areas within the store where sales associates can conduct business with customers and have financial conversations. Free wireless hotspots will also be available for customers to use.

3. Technology Driven

In addition to the customer-facing features, Wells Fargo also claims that the new stores will feature technology that allows for the elimination of paper-driven back-office processes.

The small branch size also enables the bank to build stores in locations it previously would otherwise not have considered.

[Related Slideshow: What Will the Branch of the Future Look Like?]


Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio

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User Rank: Author
10/14/2013 | 12:43:38 PM
re: Another Take on the Branch of the Future
CIBC has been using tablets in their branches for the past decade? Wow, they are advanced.
Greg MacSweeney
Greg MacSweeney,
User Rank: Author
10/14/2013 | 10:30:04 AM
re: Another Take on the Branch of the Future
I'm not familiar with CIBC and its branch strategy, but Wells Fargo isn't the first bank to talk about it's "branch of the future" strategy. With over 9,000 branches, I wonder how long it is going to take Wells Fargo to start to expand this strategy?
User Rank: Apprentice
10/13/2013 | 10:06:50 PM
re: Another Take on the Branch of the Future
So basically, "the branch of the future" is what CIBC has been doing with their PC Financial branches in Canada for the past decade.
User Rank: Apprentice
4/30/2013 | 10:30:33 AM
re: Another Take on the Branch of the Future
Excellent article
Cara Latham
Cara Latham,
User Rank: Apprentice
4/22/2013 | 2:38:17 PM
re: Another Take on the Branch of the Future
The branch looks modern but also inviting, despite the tech-heavy design. I would feel comfortable walking into one of these branches to talk to an associate. Even more appealing (at least to me) is the greener initiatives the bank is taking for its back-office processes.
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