A Better Space Makes for Better Banking

Farewell, Cubicles. (Photo by Tim Patterson)

We’ve talked recently about how banks are, to a greater and greater extent, making significant investments in technology to make transactions both more convenient and more secure for their customers/members.

But another path to maintaining and, indeed, growing a loyal customer base in the age of remote deposit capture via mobile device — and an environment where some millennials claim to have never seen the inside of a bank — is making the physical banking space more appealing.

And that means making better spaces for employees as well. As reported in BAI Banking Strategies:

The designs look pretty and contemporary, but the motivations behind them are timeless. From the renovated corporate headquarters to the community branch, the goals are to increase employee productivity, attract desirable job candidates as well as customers, and maybe save a few bucks along the way.

So, there is a concerted effort being made to both attract and retain quality staff at banking institutions, but we also have to keep in mind that 33% of “millennium generation” Americans believe they will no longer need banks in coming years. Since that age group already makes up a huge percentage of the work force and will only become more pervasive as years go on, you can see why Fifth Third Bank has made it a priority to create workspaces that appeal to the new majority workforce. From the article:

Headquartered in Cincinnati, Fifth Third Bank recently revealed an ambitious renovation plan called OurWorkplace, which seeks to create more flexible office spaces. Part of the Bank’s NorthStar initiative, OurWorkplace was piloted in Detroit in 2016; as of press time; work is wrapping up at Fifth Third’s Central Ohio office in Columbus.

The newest OurWorkplace combines beautiful, bright and funky. The Community Spot invites folks to leave feedback on how to improve the bank’s local presence. It’s a wall of blue-hued clipboards, lined up like paint swatches in a home decorating store. Feel like writing directly on the walls instead? There’s a place for that called the Collaboration Station.

While we at OrboGraph are busy modernizing our check and healthcare payment platforms, it’s gratifying to see that financial institution physical infrastructure is “keeping up with the Joneses”!