First Impressions: SunTrust Branch Redesign
21 July 2014
Branch transformation is no longer optional for retail financial institutions. But, the task is enormous and is best undertaken carefully and cautiously. This appears to be exactly how SunTrust is undertaking the task. I had the opportunity to visit a newly redesigned branch in downtown Atlanta adjacent to the bank’s corporate headquarters building. The branch is located in a food court area, with no street access. The food court enjoys significant foot traffic throughout the day, but particularly during the early morning and lunch periods. I arrived there near 7:00 AM and the place was bustling. Outside the branch were two NCR interactive Tellers flanked by two NCR SelfServ 32 ATMs . The interactive teller machines were staffed from 8:00 a.m. to 8:00 p.m. while the ATMs were available 24/7. The branch opened at 9:00 a.m. Not shown in the picture below is a large interactive digital wall used to merchandize many of the bank’s products and services. 
The interior of the newly remodelled was similarly non traditional, with a prominent information desk, several private offices and a digital banking bar, where customers could interact with the bank – with or without staff assistance. Well before the branch was opened, a SunTrust employee was stationed outside the branch, greeting passers-by and explaining the new Interactive Teller devices. She courteously explained that the bank was testing the new devices and would welcome my input. In fact, SunTust was promoting trial of the video teller machines through a $5 promotion in return for a short survey following the interaction. The survey was administered by the bank employee using a tablet device. While waiting for my meeting, I struck up a conversation with a SunTrust customer sitting nearby. She was traveling through town and apparently needed access to funds she held in a money market account – something she could not perform with an ATM. Her first encounter with a video teller was apparently satisfying as she left the area smiling and commenting on how it was “kind of fun” interacting with the bank this way. She was on her way at 8:05, nearly an hour before the branch opened for business. In contrast to video teller machines inside the branch, this is a great use-case for the devices in my opinion. Used in this way, the devices add convenience through efficiently extending service hours. Placing the video tellers adjacent to ATMs offers teller interaction when desired, without adding overhead to ATM transactions. But, investing in separate devices with extensive overlapping functionality (not to mention non-working capital tied up in the form of additional cash) isn't ideal. A better approach requires NCRs forthcoming release that would permit a single device to do double duty. Will this branch design be a win for SunTrust? I have my opinions, but the important thing is that SunTrust is actively experimenting with branch channel transformation. This is something many more banks should be doing.
The interior of the newly remodelled was similarly non traditional, with a prominent information desk, several private offices and a digital banking bar, where customers could interact with the bank – with or without staff assistance. Well before the branch was opened, a SunTrust employee was stationed outside the branch, greeting passers-by and explaining the new Interactive Teller devices. She courteously explained that the bank was testing the new devices and would welcome my input. In fact, SunTust was promoting trial of the video teller machines through a $5 promotion in return for a short survey following the interaction. The survey was administered by the bank employee using a tablet device. While waiting for my meeting, I struck up a conversation with a SunTrust customer sitting nearby. She was traveling through town and apparently needed access to funds she held in a money market account – something she could not perform with an ATM. Her first encounter with a video teller was apparently satisfying as she left the area smiling and commenting on how it was “kind of fun” interacting with the bank this way. She was on her way at 8:05, nearly an hour before the branch opened for business. In contrast to video teller machines inside the branch, this is a great use-case for the devices in my opinion. Used in this way, the devices add convenience through efficiently extending service hours. Placing the video tellers adjacent to ATMs offers teller interaction when desired, without adding overhead to ATM transactions. But, investing in separate devices with extensive overlapping functionality (not to mention non-working capital tied up in the form of additional cash) isn't ideal. A better approach requires NCRs forthcoming release that would permit a single device to do double duty. Will this branch design be a win for SunTrust? I have my opinions, but the important thing is that SunTrust is actively experimenting with branch channel transformation. This is something many more banks should be doing.