In the past, banking convenience was defined by where your branches were located. Have a branch near where I live? Then you are convenient.
In the future, banking convenience is defined electronically. The mobile channel, website and electronic services will play a key role in how consumers perceive your convenience.
While electronic channels are more important than ever, the branch is not dead. We are seeing a concept in the future called “convergence marketing,” where your marketing is converging around both the online and offline channels.
This video further explains the convergence marketing concept and its role in banking’s future. Click on the short video below from the presentation “Member of the Future.”