Bancography’s Bancology Fall 2024 newsletter now available
BIRMINGHAM, AL (September 9, 2024) — Bancography, a financial services consulting firm, today announced that its Bancology Fall 2024 Newsletter is now available for immediate download here. In its 23rd year of providing key industry insights, this edition contains extensive research about the banking industry as well as updates on the newest features in the Bancography Plan branch planning software tool.
The three main themes in this edition include:
Revisiting the Network Effect: Despite the Rise of Alternate Channels, Dense Branch Networks Still Win the Day
Even with the rise of digital channels, empirical evidence shows that large branch networks continue to capture a disproportionate share of market deposits. In examining the relationship between deposits per branch and number of branches, Bancography found statistically significant correlations across the 50 largest metro areas in the U.S., with the strength of the correlation increasing in two-thirds of those markets since a similar study in 2017. This implies that branch-network scope remains a major determinant in consumers’ choice of financial institutions and argues for bankers to concentrate resources in markets where they can build broad network coverage.
The Brand Truth: Power of Consistency
An institution’s brand is one of its most valuable intangible assets. Unfortunately, a misstep could tarnish the brand beyond recognition. A healthy and strong brand will survive miscues. But at some point, a reputation or brand will not survive a reoccurring onslaught of problems. Knowing where you stand versus where others perceive you is the key in managing a brand. The quandary is knowing if your brand is on mark.
Workplace Banking: A Multiplier for New Account Sales
Bankers continually seek venues for new account growth. If you can amass accounts 10 at a time, that’s better than one at a time. So where can bankers find opportunities to accrue accounts in multiples? One option lies in workplace banking, where a bank or credit union creates an offering tailored to the employees of a specific company.
Bancography principal Kimberly Clay noted, “Bancology shares pertinent topics that will give bankers a better idea of how to gain market share in today’s banking environment. We are excited about the content shared in this issue and hope that everyone who downloads Bancology will find data, tools and resources that will help them in daily business.”
Download a copy of the Bancology Fall 2024 Newsletter here.
About Bancography
Bancography provides branch planning solutions and primary marketing research for financial institutions across the U.S. Bancography offers custom branch network optimization services in addition to Bancography Plan, our market analysis and branch planning software tool. Bancography’s Branch Network Optimization service provides a market-wide assessment of any region to deliver a long-term plan for branch openings, closings, relocations and acquisitions. Our branch planning projects have addressed nearly every region in the U.S. In support of our clients’ current operations, Bancography performs primary marketing research to measure customer experience and brand awareness.
For more information, visit bancography.com, connect with us on LinkedIn or contact info@bancography.com.
