Abstract
Executive Reports
RBR's "Executive Reports" provide expert opinion on topical issues in the banking automation, ATMs, cards and payments sectors. They provide a mix of information, analysis, insights and implications and are aimed at senior executives or others looking for informed commentary on key industry issues.
The in-store branch has its origins in the late 19th century, but this report
looks at the modern in-store branch of today.
This latest report in RBR's Executive Reports series addresses the delivery of
financial services through branches located in retail stores - these services
may be operated by bankers, credit unions, retailers-cum-bankers and retailers
acting as agents offering 'own-label' products from authorised institutions.
The USA was the first country to embrace in-store banking, but banks in other
markets have followed this lead and a new generation of in-store branches has
emerged around the world. This report provides insights and examples of how
in-store branches can play a valuable role in extending the penetration and
sales effectiveness of retail banking delivery channels.
Table of Contents
ACKNOWLEDGEMENTS
- About the author: David J Cavell FCIB
- About the publisher: RBR
- Confidentiality
- Disclaimer
TABLE OF CONTENTS
TABLE OF FIGURES
EXECUTIVE SUMMARY
- Introduction
- The USA market
- The British market
- Other global markets
- Successful strategies
- Conclusions
SECTION A: THE USA MARKET
1. USA in-store branches - mini case studies
- 1.1 Delta Community Credit Union(DCCU)
- 1.2 Huntington National Bank
- 1.3 US Bank
- 1.4 Walmart Stores
- 1.5 Wells Fargo
- 1.6 Woodforest National Bank
2. People's United Bank, USA
- 2.1 Introduction
- 2.2 The customer experience
- 2.3 The Stop&Shop Supermarket Company
- 2.4 Operating in-store
- 2.5 Conclusions
SECTION B: THE BRITISH MARKET
3. UK in-store branches - mini case studies
- 3.1 Sainsbury's Bank, UK
- 3.2 Tesco Bank, UK
4. The Co-operative Bank, UK
- 4.1 Background
- 4.2 An in-store branch pioneer
- 4.3 Redeveloping store representation
- 4.4 The latest chapter
- 4.5 Conclusions
SECTION C: OTHER GLOBAL MARKETS
5. Other markets in-store branches - mini case studies
- 5.1 Bangkok Bank, Thailand
- 5.2 Oversea-Chinese Banking Corporation Limited (OCBC), Singapore
6. Standard Bank, South Africa
- 6.1 Introduction
- 6.2 The South African Challenge
- 6.3 The 'bank shop'
- 6.4 Managing the programme
- 6.5 Conclusions
SECTION D: SUCCESSFUL IN-STORE BRANCHING STRATEGIES
7. Strategy issues
- 7.1 The business models
- 7.2 What are the critical success factors?
- 7.3 Business development expectations
- 7.4 The role of in-store within local networks and markets
- 7.5 Conclusions
8. Best practice
- 8.1 Introduction
- 8.2 The headline benefits
- 8.3 Business development
- 8.4 The requirements of staff
- 8.5 Store management relationships
- 8.6 Beyond the launch
- 8.7 Conclusions
9. Conclusions
- 9.1 A mature and well understood sector
- 9.2 True or false?
- 9.3 The bottom line
APPENDIX: CONTRIBUTORS
TABLE OF FIGURES
- Figure 1: Growth in the number of in-store branches in the USA
- Figure 2: A new generation of Delta Community Credit Union branches
- Figure 3: An early US Bank in-store unit
- Figure 4: Over 1,000 Walmart Money Center units have now been deployed
- Figure 5: The latest type of People's United in-store unit
- Figure 6: A recent Tesco Bank in-store branch
- Figure 7: The Co-operative Bank walk-in banking kiosk
- Figure 8: New generation of in-store representation by Co-operative Bank
- Figure 9: The micro branch concept is deployed in-store in Bangkok Bank
- Figure 10: Principal in-store micro branches in Thailand
- Figure 11: A plus! Lite branch operating in an NTUC FairPrice supermarket
- Figure 12: The bank shop concept now being rolled out at Standard Bank
- Figure 13: Deposit development at in-store branches
- Figure 14: A typical in-store branch plan
- Figure 15: A HyVee in-store branch