Despite its digitalization efforts, Zuercher Kantonalbank intends to continue relying on its network of 51 branches. The state-owned institution is investing hundreds of millions in the coming years to do so.
Zuercher Kantonalbank (ZKB) is investing in its network of locations and modernizing all of its branches in the canton of Zurich, the state institute announced on Monday. «Having a physical presence on site and being close to our clientele is part of our DNA,» said Steve Zurschmitten, project manager for sales and the private banking market area manager in Winterthur.
«That is why we're also relying on the densest network of locations in the Canton in the long term and are redesigning all of our 51 branches along a newly developed location concept. To this end, we are investing a low three-digit million euro amount over the next few years,» with conversions taking take place in phases lasting from 2024 to about 2030.
Modular Structure
The newly developed site concept has a modular structure, can be used regardless of size, and offers plenty of scope for design. The focus is on personal advice and support on issues relating to important life or business events.
In the case of issues and questions relating to everyday transactions, such as e-banking payments or cash withdrawals, employees will support customers directly on-site and accompany them into the digital world.
New Impulses
Depending on the location and local needs, an event zone will also be used as a space for new initiatives. ZKB offers events on topics like home ownership, financial well-being, start-ups, or starting a company. With workshops, it facilitates entry into the digital banking world with offers such as TWINT or eBanking and mobile banking.
More time and space are devoted to meeting the public and advising customers, as reflected in the appearance of the modernized branches. An open-space concept allows more light, with materials and furnishings selected to create an inviting ambiance and promote easy access to banking.
Pilot Locations
The aim is to create a face-to-face customer experience tailored to life and business events.
And it's just not the buildings that will have a new look. The clothing worn by the employees will be «sporty and elegant» in shades of blue and beige. Two pilot sites opened in Stettbach and Winterthur recently years tested the new ideas.
The new site concept incorporates the findings and customer feedback from the two pilot projects which lasted several years, during which ZKB sought to answer which services will still be in demand at bank locations in the future and which needs are shifting to digital channels.
Best of Both Worlds
The trend toward decreasing cash withdrawals and the shift of transaction business to self-service, eBanking, and mobile banking on smartphones will continue. Digitalization is also changing customers' expectations and needs of a modern bank.
ZKB wants to offer the best of both worlds for analog and digital and combine them to create an optimal hybrid customer experience.
