Delivery Innovations: Branch Automation in North America

July 11, 2002

Abstract

Boston, MA, USA July 11, 2002

Delivery Innovations: Branch Banking in North America 

A new report from Celent highlights the renewed focus that banks are placing on their branch networks. After years of being eclipsed by electronic channels, branch renewal is emerging as a top priority at major banks.

Celent痴 new report, "Delivery Innovations唯ranch Automation in North America," discusses the overall market trends accounting for the focus on the branch delivery channel, examines the immediate drivers for branch automation, and evaluates current and possible future branch innovations in North American retail banking.

In the report, Celent Communications predicts that annual IT spending on branch automation by deposit-taking institutions will grow from US$3.7 billion in 2002 to US$4.4 billion by 2006預 respectable growth rate in the midst of general IT malaise in the banking sector.

Celent predicts that banks will increasingly emphasize entirely new strategies to provide customers with access to multi-channel and multi-product services within the branch. Banks will also initiate innovative approaches to expand their branch networks.

According to Octavio Marenzi, managing director at Celent and co-author of the report, "the realization that the branch will not be entirely eclipsed by electronic delivery channels is leading to a renewed emphasis on updating branches to better equip this customer touch-point, not only in order to improve customer services, but also to enhance the advisory role of the branch." A Table of Contents is available online.

of Celent Communications' Retail Banking research service can download the report electronically by clicking on the icon to the left.

        

Send mail to info@celent.com with questions or comments about this Web site.

 

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

 

  Boston, MA, USA July 11, 2002

Delivery Innovations:  Branch Automation in  North America

Return to report Abstract

 

EXECUTIVE SUMMARY 3
INTRODUCTION 4
MARKET OVERVIEW 5
  Branches Take Center Stage 5
  Under-Investment In Branch Technology 7
  Renewed Interest In Branch Technology 8
THE BRANCH OF THE FUTURE 10
  Underlying Technology Needs 10
  New Technology Aids Cross-Selling 12
  Increased Spending On Branch Staff 13
GEOGRAPHIC REACH OF TOP U.S. BANKS 16
EXPANDING THE BRANCH NETWORK 23
BRANCH INFORMATION TECHNOLOGY SPENDING 31
CASE STUDY 34
  Bank of America 34
CONCLUSION 36

 

        

 

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