Jeff Morris addressed The Financial Managers Society’s Finance and Accounting Forum for Financial Institutions on Monday, June 13 in New Orleans. Jeff’s presentation, “Branch Transformation Strategies,” focused on community institutions and the need to effectively
manage the costs of acquiring new customers while servicing existing accounts. Institutions must manage costs across a multi-channel network, which includes traditional branches, ATM networks, on-line and mobile banking platforms. Jeff provided strategies for transforming financial institutions to optimize service, generate revenue, and manage costs across today’s multi-channel delivery network.

In the July 5, 2016 _FMS Update_, a session recap of Jeff’s presentation was the featured cover story noting that it is time to deal with declining branch traffic and customer migration toward digital channels. Jeff framed the challenges facing community institutions not just as a banking issue, but as an issue facing all retail businesses today. Jeff acknowledged the increasing role of technology, the need for cost saving measures, and the impact of new millennial customers, but he said that community branches don’t need to go away entirely, but they do need to embrace change as one part of a multi-channel mix.

Jeff said that community institutions can adapt and respond to a changing environment by: evaluating the number, size and locations of branches; increasing the use of automation; employing specialized staff; providing private offices instead of teller lines and placing the emphasis on advisory services instead of transactions; adding non-staffed and fully-automated branches; and offering remote advisors.

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