Retail Concepts Vol. 1, 2008
The Future of Tellerless Branches
Mining Gold in Your Own Back Yard; Unlock Your Hidden Branch Potential

Maximizing Retail Branch Potential Create an Expanded Profit Center
Create an Expanded Profit Center through a Universal Retail Environment
With the increasing number of transactions done using the internet and other off-premise methods of payment and deposit activities, the need for branch tellers will continue to decrease over the coming years. Learn what designs can be incorporated into a branch to create a Universal Service Center.

Hidden Branch Potential
Mining Gold in Your Own Back Yard Unlock Your Hidden Branch Potential
Learn how to identify areas of Growth and Profit Potential within your existing branch system. On average, a ten branch system will have an upside profit potential of 25% or more.

Now is the Time to Merger

Regression Modeling
Mapping Branch Profit Potential With GRFI’s Regression Modeling
Location is not the most important factor in profitable branch planning. The Market Potential must be evaluated and determined prior to the identification and selection of a strong site. Learn which Trade Areas are determined to have the opportunity to deliver the potential that exists within specific market areas.

cffilogo

Center for Financial Innovation – Testing Tomorrow Today

GRFI and our architectural partner, VRA Architects, recognized the need for a real world laboratory to test the latest concepts in branch design including facility layout, technology, equipment, furniture and staffing.

Jointly, we developed the Center for Financial Innovation (CFFI) in Park Ridge, IL.  We created our center to demonstrate to our clients how best to reposition branches to maximize customer relationship potential and reduce costs.  The CFFI is used to test and evaluate changes in staffing models and sales-service delivery techniques that will serve as benchmarks for branches in the future.

The CFFI is a functioning branch and is leased by MB Financial, a major Midwestern Bank Holding Company.

CFFI Universal Service Area – Relationship Banking and Teller Services

The CFFI incorporates the latest in financial services technology including digital merchandising and numerous automated product-service delivery systems. It also illustrates efficient, profitable retail design concepts that result in enhanced consumer experiences.

The Center is a “real world research site” utilizing live investments, insurance and business banking operations.  It is updated periodically to illustrate new innovations and service techniques, while incorporating the results of ongoing sales-service research. Our research and testing provides our clients with the ability to:

  • Achieve the highest levels of customer service and satisfaction
  • Reduce staff costs to match the needs of businesses and consumers
  • Significantly expand consumer and business relationships through a variety of cross selling opportunities and techniques

The CFFI also gives GRFI/VRA the ability to incorporate all of our recommendations in one branch. Clients now have the opportunity to see how each element functions together in one cohesive design resulting in the following benefits:

  • The CFFI branch is rated highest in customer service among all branches within the MB network
  • The facility has documented the effectiveness of multi-channel digital merchandising as compared to traditional static merchandising.
  • The facility has the ability to test a variety of cash dispensing / cash management and remote drive up teller technologies.  The resulting data enables our clients to reduce staff by selecting the system or systems best suited for their specific needs.

Our clients have found that the Center is an excellent resource for persons responsible for optimizing retail banking operations, customer sales-service, facility design for both new and renovated facilities and last but surely no the least important is how best to achieve improved branch ROI’s.

Digital Merchandising Display in Waiting Area of CFFI

To learn how your organization can achieve similar results, contact us to schedule a visit at the CFFI or to meet with you at one of your branch locations.

Sincerely,

George Frerichs
Chairman
GRFI Ltd./ The Frerichs Group
400 East Randolph Street, Suite 700
Chicago, IL 60601
Phone: 312.856.1444
Fax: 312.856.0025
gfrerichs@grfiltd.com
www.grfiltd.com

Check for upcoming dates.

GRFI/The Frerichs Group
400 East Randolph Street Suite 700
Chicago, Illinois 60601
(p) 312.856.1444
(toll free) 888.856.5161
(f) 312-856-0025