Ever the forward-thinking innovator, PNC has recently opened a “pop-up” branch in downtown Atlanta. It’s brightly colored in blue and orange to match the banks brand, and presents itself in a striking 20×8 foot total package. As the industry forecast shifts to indications of smaller, more precise branches that are just as much billboards for name recognition as a place to fulfill banking needs, this pop-up branch takes the idea to heart in a very dramatic way.
A recent article in American Banker summed up the best overall aspect of this branch idea, stating,
“The concept is designed to engage people on the streets, where they work, live and play, and show off some of the bank’s newer offerings, such as PNC Virtual Wallet and Cash Flow Insights for small businesses. It’s not meant to replace a traditional bank.”
Bingo. Let’s face it, are new customers going to come into a bright, food truck sized bank branch in the middle of a busy urban center to apply for a mortgage? Probably not. But what they are going to do is be surprised by the whole idea, pay attention to the brand, and stop in to find out what it’s all about. And once they’re inside, it’s all about modern engagement, with two banking specialists equipped with iPads to show off products like the Virtual Wallet.
Even though traffic for a more traditionally major product, such as a mortgage, may be much less likely in this sort of location, branch staff still have everything they need to provide information and pass on referrals. A full service ATM that dispenses $1 bills is also included to keep customers coming back when they’re quickly passing by.
Instead of commanding its own busy corner or block, demanding that people set aside time in their day to visit the branch, this approach rather embraces customers by becoming a part of their daily lives through convenience, simplicity, and digital services. You’re no longer “going to the branch” when the bank is on your commute, on your phone, and on your schedule. It’s only a slight change to how we perceive the bank and closest branch, but it’s a radical one.
As much as I personally detest the “wow” idea/buzzword that keeps appearing in the banking world, I have to admit, this falls under that category. This has the potential to surprise people with something new they haven’t quite seen before.
As urban centers of life continue to flourish, banks will need to continue to develop new ways of cost-effectively meeting customer needs while seamlessly becoming a part of their busy lives. This idea from PNC could very well prove to be a new standard on doing just that.