Capital One has been rolling out coffee shops where it can offer banking services — but are not considered branches. The cafes have been especially effective at gathering deposits, putting more pressure on community banks that have already been losing deposits to their larger rivals.
A plan by the largest U.S. bank to use part of its tax windfall to enter new markets (including Washington and Boston) could become a serious threat for banks of all sizes in those cities — or looked backed upon someday as a pricey over-expansion.
Bank of America has opened a flagship branch downtown and plans several so-called robo branches across the city. It has used a similar strategy to enter new markets in the past year.
Pamela Codispoti, credited with launching the popular Chase Sapphire Reserve credit card, has been put in charge of the company’s network of more than 5,200 branches.
OneUnited is trimming branches and expanding digital offerings as it builds its brand as a backer of social justice that develops innovative products such as a Black-Lives-Matter-themed debit card.
In our quest to solidify and improve customer satisfaction, we should not set up systems that have our teams more focused on manipulating scores than actually earning them.
