Member Exclusive, New banks

How COVID-19 is impacting bank branch design and function for years to come

  • The pandemic has been good for digital banking but it's also having an effect on bank branch design.
  • The size, design, and materials of the bank branch of the future will incorporate social distancing and wellness.
close

Email a Friend

How COVID-19 is impacting bank branch design and function for years to come

It’s not just digital banking that is impacted by the current pandemic. As the industry thinks about banking after COVID-19, the bank branch is also being reconsidered from a public health perspective. From architecture that incorporates social distancing to the purpose of physical locations, the bank branch may never look the same.

Helping customers navigate through a bank branch is taking on new importance in the age of social distancing. In addition to well-planned interior design, wayfinding is top of mind, as banks consider optimizing the speed at which customers move through their locations. Wayfinding can include design factors as well as signage to guide customers to where they need to go within a branch. “Literally, from arrows on the floor to signage, you have to work with wayfinding to get people in a space to circulate, whether it’s to a teller or a salesperson within the bank branch,” said Scott Spector, a principal at architecture and interior design firm, Spectorgroup. About half of the 40 clients his firm is working with right now are in financial services.

To handle customers and employees fearful of social interaction, banks will need to educate their workforces and their customers before they walk in the door to make them comfortable to move around and interact. Some banks responded with knee jerk, short term design changes that include built-in signage and plexiglass panels. “It’s like you’re walking into a 7-Eleven. Those things just don’t maintain durability,” Spector said.


This content is available exclusively to Tearsheet Outlier members.

Tearsheet Outlier information and signup Missing out? Subscribe today and you’ll receive unlimited access to all Tearsheet content, original research, exclusive webinars and events, member-only newsletters from Tearsheet editors and reporters and much more. Join Outlier now — $59/mo Already an Outlier member? Sign in to your account

0 comments on “How COVID-19 is impacting bank branch design and function for years to come”

Outlier OpinionsMakers

New banks

Behind Upgrade’s move to add BNPL capabilities

  • Upgrade is adding BNPL to its personal loans and payment cards, but with a twist.
  • The company also intends to make a push to bring BNPL payments offline and into shops.
Subboh Jaffery | October 08, 2021
New banks

9 insightful things overheard at Tearsheet’s 2021 Convergence Conference

  • Tearsheet's Convergence Conference set the tone on how banks, investment and payment firms, and fintechs are planning their product roadmaps.
  • It's clear that the trend of rebundling the bank will continue, as we see the emergence of super apps.
Tearsheet Editors | September 30, 2021
New banks

‘We’re in a constant beta state’: How Citizens Bank is adapting to the post-Covid needs of young consumers

  • Citizens Bank is targeting a younger demographic of customers with its national, digital offerings.
  • That means rethinking its branch network and upgrading its products and services to match the needs of the modern consumer.
Ismail Umar | September 29, 2021
New banks

Convergence Conference 2021: All session videos

  • Tearsheet's 2021 Convergence Conference looked at how FIs and fintechs are becoming financial super apps.
  • Here are all the session videos from the event.
Shabih Rao | September 27, 2021
New banks

Get access to all the session videos from the Convergence Conference 2021

  • Tearsheet's 2021 Convergence Conference looked at how FIs and fintechs are becoming financial super apps.
  • Here are all the session videos from the event.
Tearsheet Editors | September 27, 2021
More Articles