Originally posted on The Verint Blog. Twitter: @verint

Debates will continue on the role of the financial institution branch, whether or not consumers need them, and how many—if any—each market should have.

While the use of digital banking channels continues to grow, some leading banks are designing and building new branches that include the latest technology for an even better reason—to enrich customer interactions and deliver a better sales and service experience.

Particularly in high-traffic urban areas, the availability of self-service kiosks and advanced function ATMs can provide customers with secure and convenient access to banking transactions. Even though mobile and online banking capabilities continue to improve, the small format of smartphone screens limits what can be easily provided. Many consumers may prefer to do their banking “on-the-spot” in a branch if it is designed well (and staffed with skilled employees) rather than waiting until they can access their personal laptops.

Complementing this self-service functionality can be using technology and branch design to improve face-to-face interactions between consumers and branch employees. This could be done through tablets or interactive PCs/smart screens in private conversation areas for discussing financial needs, goals and banking products, opening new accounts or completing more complex requests.

The branch of the future concept doesn’t mean that one size suddenly fits all. Financial institutions will need several “next generation branch” models to evolve their networks over time. Understanding customers’ needs and demographics in each market can help prioritize changes and models to deliver.

Which leading banks are delivering these high-tech next generation branches today? Here are a few notable examples:

• [VIDEO] Commonwealth Bank of Australia – flagship branch
• [VIDEO] BBVA Compass – Customer Centric Bank, a new service model for retail banking
• [VIDEO] Wells Fargo – Wells Fargo’s ATMs Know You Better
• [VIDEO] Umpqua Bank Retail Experiences – San Francisco Flagship Store

As you investigate ways to improve how you serve your customers, it might be time to consider what technology and design ideas make the most sense for them.

–Jenni Palocsik, Solutions Marketing Director, Verint – follow Jenni on Twitter: @jpalocsik