Another new branch concept, another Branch of the Future. Except this time the project is in China and The Bank of China branch project captured the public imagination to the extent that the launch was covered live on national TV. Douglas Blakey reports
The location: city of Guiyang, the capital of Guizhou, the venue is the Shengfu branch of Bank of China and the cameras are rolling.
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Following a long and detailed design process the Bank of China branch is formally opened amid much ceremony and celebration, with CCTV, the national television network covering the event.
With this design, UK-headquartered specialist design consultancy allen international have utterly transformed the retail banking experience in China from the traditional, service dominated operation that has not changed in decades, used by all the financial institutions throughout the country.
What Bank of China (BOC) now boasts is a branch that for the first time in China allows staff the platform to provide truly customer orientated service, and along with specialised, retail orientated training provided by Allen International puts them far in front of any of their national competitors.
One of the key items that was requested was the development of BOC omni channels , Allen International has created the branch to showcase Bank of China’s development of its digital technologies with the launch of a new sub-brand ‘Smart Banking’ that now allows them to partner with Chinas largest mobile technology providers.
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By GlobalDataAllen international launches new digital customer journey ‘LifeLab’
The new innovative concept will help banks develop new digital customer experience from the internet through to mobile banking and the branch.
Allen International believes Asian banks are well positioned to start bridging the gap between customers’ exponential expectations of digital banking and the digital experience banks currently offer.
At its Asia Banking Forum, CEO Michael Allen explained the next frontier in retail banking has been centered on the omni-channel experience, re-inventing brand values for the digital age and updating the brand image for banks.
Based on over 30 case studies of banks from diverse markets such as Greece, India, Ireland, Colombia, Brazil and South Africa, Allen tells RBI that banks in Asia must engineer a fundamental change in the way banks interact with digital customers, as there is currently a mismatch between branches and customer behaviour.
"As the world leader in branding and retail environments for banks, having worked for over 250 banks around the world, we believe digital transformation is undoubtedly the most important and impactful trend in the retail banking industry today. This is especially so as new technologies emerge in an exponential manner and consumer uptake continue to exceed expectations".
60 bankers from leading banks in Asia attended Allen International’s inaugural forum on 23 & 24 October.
Sharon Kam, a veteran in branding and communications, has been appointed to lead Allen International operations in Asia.
