Banks and Retailing

Abstract

The philosophy behind banks' current High Street profiles is based on four main guidelines: the need for cash movement; security of staff/money from robberies; indication of stability/substance; and wide facility for in‐/out‐payments. This has led to a perception of bank branches as cold, unfriendly places, discouraging customer visits. The retailing approach will impact on branch style and structure, possibly creating individual, business‐specific banks within banks which can deal with both the heavy user cash customer and the high net worth customer, in the same way that aircraft travel is sold as business, economy and first class services through the same aircraft and facilities. With ATMs and home banking (such as the Minitel system being pioneered in France) reducing cash security requirements, bank branches will be able to exploit the freedom from counter barriers to make customers feel more welcome. Finally staff must be trained and helped, through incentives, to take a more positive and welcoming attitude.