Bank Benchmarks and Practical Insights for More Effective Branches



Bank benchmarking and practical insights key takeaways

  • Bank benchmarking is needed to make strategic operational decisions.
  • Location is an important factor in operational strategy.
  • Universal bankers allow branches to be more flexible and proactive than traditional tellers.

Bank benchmarking is an important strategic tool for bank branches. With fewer people visiting brick-and-mortar banks, operational costs increasing, staff productivity declining, and self-service technology advancing, branches are being severely impacted. Over the past 10 years, staffing levels at bank branches have also dropped, resulting in a 47% decrease in total full-time equivalents (FTEs). This means banks need to address the operating model and strategy they use.

Crowe Managing Director Tim Reimink and Performance Improvement Consultant Nicholas Moore share significant findings from the Independent Community Bankers of America (ICBA)/Crowe Branch Benchmarking Survey in this on-demand webinar. This report includes detailed data on 305 branches from 19 financial institutions and covers banking benchmarks related to sales, digital banking, and account balances, as well as staffing, productivity, and customer traffic sales.

Using bank benchmarks to evaluate branches

Bank leaders can evaluate their operating model by asking themselves a variety of strategic questions including:

  • How do we cost-effectively provide service that differentiates us?
  • How do we productively increase customer trust, product usage, revenues, and balances?
  • Where are the optimal locations for visibility, convenience, and profit?
  • How do we use layout, technology, and merchandising to enhance the customer experience and branch productivity?
  • What roles do branches play relative to our other channels?
  • How do we manage teams to improve customer satisfaction?

In addition to reviewing their operating models, bank branches need to operate differently based on their location – rural, suburban, or urban.

Another way to make bank branches more effective is to tailor specific locations to business customers, as they tend to have a need for local services and respond to value propositions. Using universal bankers – customer service-focused bankers with more responsibilities than traditional bank tellers – is an effective strategy. With technology diminishing the value of tellers, universal bankers can focus more on customer problem-solving than traditional banking duties. In fact, data from the bank benchmarking report suggests branches with universal bankers perform higher than ones without them.

Crowe bank benchmarking

If you’re seeking bank benchmarking guidance, Crowe offers quality services that help you make more strategic decisions through banking surveys, data sources, and thoughtful analysis. Get in touch with us today to assist your bank with its specific data needs.