Site Tours and Reception: Dec 3, 2024 | Main Days: Dec 4-6, 2024
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Based on a Q3 2024 survey by Future Branches Insights, this industry benchmarking report offers valuable insights into the evolving branch strategies of banks and credit unions, highlighting key strategies and challenges within the sector. Among other trends. the report underscores the transformative potential of artificial intelligence in branch operations.
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The study highlights a pivotal shift within the banking and credit union sectors towards accelerated digital transformation to keep pace with burgeoning fintech competition and evolving customer expectations. According to the study, 64.50% of respondents have increased their technology spending in 2024. This underscores the industry’s commitment to harnessing advanced technologies like AI and data analytics to enhance digital and in-person service integration.
ORNL Federal Credit Union (FCU) worked with AWS Partner Arkatechture to implement a data analytics platform built on AWS to break down data silos, give employees self-service business intelligence and predictive capabilities, save 300 hours of annual programming time, and improve the member experience. ORNL FCU uses Arkalytics, a data analytics platform built on AWS, to integrate data from different banking systems and see it in a single dashboard view.
Consumers are continuing to adopt mobile and remote banking services as convenient alternatives to visiting bank branches. However, many consumers still prefer the in-branch experience for certain types of transactions and interactions with their financial institutions. This report is based on a survey of consumer banking customers regarding their experiences with financial institutions’ remote and in-person banking programs. It includes insights into how to improve the customer experience and what capabilities consumers expect next from their banks.
In this special case study, we discuss in detail how the banking landscape has transformed due to the pandemic and how Citibank’s new flagship branch in New York City is meeting the needs of the post-crisis customer.
Want even more reading material? View whitepapers and reports from our 2022 event.
2023 Media Center