The banking industry is changing rapidly due to digitalization, and so even banks that previously relied exclusively on branch operations are having to adapt. The trend is towards online banking, banking apps and other digital services. However, not every traditional financial institution has managed to successfully launch into the digital future.
In this article, we present three branch banks that have not missed the online shift and are successfully offering digital services today. These banks have recognized that customer needs have changed and have therefore developed sustainable digital strategies to stay ahead of the competition.
Find out what digital services these branch banks offer and what success strategies they follow to win over their customers online as well.
Commerzbank: The branch bank that hasn’t slept through the online transformation!
Commerzbank is one of the three leading branch banks in Germany that has successfully mastered the online transformation in recent years. It has evolved into a FinTech company, offering innovative digital offerings to its customers. Commerzbank’s online banking is user-friendly, fast and secure. Customers can do their banking from the comfort of their own home or on the go. Commerzbank also offers a mobile app for smartphones and tablets.
Another highlight of Commerzbank is its innovative account model. The so-called “Commerzbank account is a free checking account with many attractive additional services. Customers can withdraw cash worldwide free of charge and receive a Mastercard. There are also many other services such as home insurance and travel cancellation insurance, as well as a bonus for salary deposits.
- Commerzbank branches: Commerzbank is one of the leading banks in Germany with over 1.000 branches nationwide. Customers can do their banking in one of the many branches and get advice on the spot.
- Mobile advice: for customers who do not have a branch near them or who would like to receive advice from the comfort of their own home, Commerzbank offers the option of online advice.
Commerzbank is an innovative company that offers its customers modern digital offerings and comprehensive advice in branches as well as online. The bank has not slept through the online transformation, but has successfully adapted to the digital age.
Deutsche Bank is one of the branch banks adapting to online change
In today’s digital world, no business, including banks, can do without the benefits of online presence. However, some branch banks have missed the online shift and are unable to provide their customers with a seamless and user-friendly online banking environment.
In contrast, Deutsche Bank has tailored its online platform to meet the needs of customers, offering a wide range of online banking options, from simple money transfers to more complex investment processes. The user interface is simple and user-friendly, making life easier for customers.
Deutsche Bank is also one of the few branch banks to have a mobile app. The app is secure, fast and easy to use. Customers can use it to check their account balances, make transfers, and buy and sell stocks and securities. Deutsche Bank also has an online tool that offers personalized portfolio analysis and optimization.
Deutsche Bank is constantly investing in expanding its digital presence to ensure that it meets the needs of its clients. It announced in early 2020 that it would double its budget for digital innovation. The bank is integrating new technologies such as artificial intelligence and blockchain into its online platform to improve the user experience and increase security.
Conclusion:
Deutsche Bank is an example of a branch bank that has not only recognized the online transformation, but is also successfully managing it. Its innovative online presence offers its customers a first-class user experience and inspires confidence in its security measures. Deutsche Bank was thus able to strengthen its position in the market and expand its customer base.
Postbank – A branch bank on its way into the online age
Postbank is one of the branch banks that has not missed the online transformation. The company invested in digital solutions early on and today offers its customers a wide range of online services, including account opening, online banking and mobile apps. By integrating digital technologies, Postbank has been able to improve service and reduce costs.
An important milestone was the launch of the Postbank Financial Assistant, which offers customers a 360-degree view of their finances. The platform makes it possible to manage all accounts and securities accounts from different banks in one application – a major step towards holistic financial advice.
Postbank has also created important innovations in payment transactions. With the “Postbank BestSign for example, customers can sign documents digitally, which saves time and effort. Postbank was also one of the pioneers in Germany when Apple Pay was introduced.
In the analog world, Postbank still operates a network of more than 800 branches, but the company’s online strategy is clearly visible. With the integration of digital services and the creation of new ways to interact with customers, Postbank will also be successful in the future.
Conclusion
Digitization has not stopped at the branch banks either. In the meantime, however, there are some branch banks that have not missed the online change and have successfully relied on the online strategy.
These banks offer their customers a wide range of online services, from online account management to mobile applications. In doing so, they are not only at the top of their game in terms of convenience and usability, but also in terms of security and protection of customer data.
Another advantage of the online strategy is that it facilitates access to financial services for people in remote regions. The ability to conduct transactions over the Internet allows people in rural areas to access services that would otherwise be denied to them.
Overall, branch banks that have not missed the online shift are able to compete with increasing competition from online-only banks and fintechs. If they continue to improve their services and respond to the needs of their customers, they will remain successful in the future.