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RiverBank
Your client is RiverBank, a national retail bank. The exhibit shows the number of customers per year from 2021–2025, segmented into three behaviors: Branch + Digital (same month), Digital only, and Branch only.
What does the exhibit suggest about how customer channel preferences are changing over time, and how might this impact RiverBank’s strategy in the next 12–24 months? Provide two concrete actions you’d recommend based on the trends.
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📋 Solution:
RiverBank
Shifts:
- Digital-only is the new default: ~4k → ~14k (≈3.5×); now ~60%+ of customers.
- Branch-only collapsing: ~9k → ~3k (≈−67%); share ~45% → ~13%.
- Omnichannel edging down; total customers up ~14% → this is migration, not contraction.
What it means
- Revenue and retention will be driven by digital UX, not branch presence.
- Branch cost per interaction will rise unless footprint/roles change.
Recommendations
- Right-size branches, repurpose to advice/sales hubs. Consolidate low-traffic sites; keep hubs for mortgages/SMB/wealth; shift routine work to digital.
- Double down on digital activation & self-serve. Faster onboarding (ID/KYC), card provisioning, disputes, and chat/callback; set KPIs on day-30 activation and digital adoption.
Additional thoughts / guardrails
- Maintain access in rural/elderly markets (limited-hour service points/mobile banker model).
- Strengthen fraud/availability controls as digital volumes scale.
