This episode is part of the "Banking Experiences Elevated" series by Hyosung Innovue.

The host, Daniel Litwin is joined by Bill Budde, Vice President, Banking Strategy & Solutions at Hyosung Innovue. The focus of today's podcast is on the dynamic evolutions of bank branch operating models and how banks have shifted their operations over the past decade, emphasizing customer experience.

Traditional vs. Modern Banking:

a. There's a comparison between traditional bank setups and modern bank branches. The traditional setup is likened to a grocery store where customers have to walk past everything to get to the main item they came for (e.g., the milk at the back of the store). In the context of banking, this refers to the teller line at the back of the branch, which customers often visited for transactions. This design was intentional to provide opportunities for richer banking interactions.

b. Over time, technology has played a significant role in changing the design and operations of bank branches.

Value Proposition:

a. Modern banking aims to bring value to both customers and the bank. When both parties benefit, it's seen as a win-win situation.

b. The emphasis is on putting the customer experience first, as a satisfied customer is deemed a success for the bank.

Cashless & Touchless Banking:

a. There's a discussion on the potential of cashless or touchless banking becoming a standard in the industry. While it's seen as valuable, it might not become predominant immediately.

Automation & Self-Service:

a. The conversation touches on the possibility of automating complex transactions that were previously thought to be manual. This includes tasks like bill payments, withdrawals, and deposits. The idea is to envision a full-service location for banking customers where most transactions can be automated, and bankers are present for more in-depth conversations.

b. The concept of "micro branches" is introduced, where a branch could consist of just a couple of offices and ATMs, streamlining operations.