Can Bank Operations Work With a Retail Approach?
Umpqua is “feeling around, looking for something that will set them apart,” offers Robert Passikoff, president of BrandKeys Inc., a brand engagement consultancy based in New York. However, “if you dress it differently and make it far more experiential, are you going to bond people? No. Will it differentiate you from [a bank that] has lines at the tellers and an inability to get you to an ATM? It goes to the heart of how people plan,” Passikoff says. For those banks that ask consumers if they’d like comfy chairs, a cup of coffee, kiosks where they can check their e-mail and current interest rates on credit cards, they’ll receive answers in the affirmative. “But there is nothing in the drivers of retail banking relationships that exceeds the expectations of customers in a down home, hunky-dory place,” he says. “Finance is finance. Most people are looking for a wide range of financial products with decent prices, convenience, customer service, a sense of privacy and intelligence when it c
