Resilient Distribution in Banking for a Pandemic World

Published date

June 2020



During the coronavirus pandemic lockdowns branch traffic declined sharply, a development that is likely to stick to some degree after the lockdowns. Consumer banking behaviors have also changed: bank executives report droves of customers downloading bank digital apps or signing up for online accounts for the first time during the lockdowns.

However, the bank branch plays a critical role in the bank distribution and servicing model especially for customer acquisitions, brand building and customer relationships. There are still significant gaps at critical junctions of the bank customer’s decision journey on digital channels including digital account openings, onboarding and remote selling. Banks must tread lightly and carefully when it comes to closing branches.  

How should banks rethink the distribution and servicing model to ensure the effects of social distancing, evolving banking behaviors and a lingering pandemic do not inhibit their ability to grow deposits, service customers and expand wallet share over the next 18-24 months?

The survey examines how branch banking behaviors in account opening, bank switching and servicing have been reshaped by the pandemic. It looks at a number of factors including the impact of branch presence, the new willingness to travel greater distances following the lockdowns, and the impact of a lingering pandemic on branch visits. The survey also examines customer expectations for best-in-class digital capabilities following the lockdowns.

Resilient Distribution in Banking for a Pandemic World

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