THE DESTINATION BRANCH, A BLUEPRINT FOR SUCCESSFUL BRANCH TRANSFORMATION
“’Disney World has nothing on you’ is probably my favorite customer reaction so far.” Chad Hoffman, CEO and President of Richwood Bank says regarding customer reactions when they first enter the newly remodeled branch in Richwood, OH. The remodel is more than just an updated lobby redesign, it is a venture into the branch transformation and banking model of the future by upgrading a customer service model into the ultimate customer experience.
The Richwood Banking Company, newly branded as Richwood Bank, has six locations throughout Central Ohio. They’ve recently constructed a new operations/corporate facility and opened an 8th building – Richwood Marketing. Richwood Marketing is one of many initiatives developed by Richwood Bank to partner with local business and arm them with resources to thrive and stand out.
Richwood Bank identified in their strategic planning process the overarching goals of providing customers financial protection, social connection and life direction. The journey was set for increasing customer interaction and lobby traffic while most banking models are focused on mere transactions or automation.
While still in the early stages of their complete vision, the impact is already being recognized. Earlier this year, Richwood Bank received the 2015 Extraordinary Banker award. The process, which originates from the Emmerich Group, accepts nominations nationally based on differentiators developed in the community banking industry. An independent judge’s panel with members such as Steven Covey, review and determine finalists. Richwood Bank stood as the clear recipient this year for all of their efforts.
While receiving their award in Chicago, Hoffman stated, “This is a proud honor and surreal. The one thing I want to convey to the judges, fellow nominees and the industry we serve is that this is just the beginning. We aren’t yet where we want to be but proud of the progress we’ve made so far. This is validation that 2016 will be better yet.”
Of the three prongs within the Richwood Bank strategic plan, a new lobby destination redesign complements all of them. A conversation with both Chad Hoffman and President of K4 Architecture + Design, Jeff Klump, gives insight into the destination branch concept and how it paves the way for the banking/retail hybrid and successful branch transformation that can work for your community.
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