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According to investopedia.com, retail banking "is typical mass-market banking where individual customers use local branches of larger commercial banks. Services offered include: Savings and Checking accounts, Mortgages , Personal Loans , Debit Cards , Credit Cards , and so forth." RETAIL BANKING REVOLUTION Within the past few years, there has been a revolution in retail banking. One pioneer has been Washington Mutual, with its Occassio (Latin for "favorable moment" or "opportunity) and De Novo branch design concepts. The general idea of these designs is to make coming to the bank a safe and pleasant experience. Branches following the Occassio and De Novo design concepts are safer because none of the store employees have direct access to cash. In some branches the cash comes out of a Teller Cash Dispenser (TCD), and in others the customer is given a receipt with a numeric code that s/he types in at a specialized cash-dispensing station. This design is more safe than the traditional branch because robberies are less likely to happen since bank robbers know that a robbery will result in very little return. The aforementioned design concepts make banking a more pleasant experience in a number of ways. The design is more welcoming because it consists of round shapes and bright colors instead of traditional solid edges and somber coloring. Moreover, tellers are situated at individual platforms rather than behind the traditional teller line. Parents will be happy to note that the child play-place has Game Boy video game consoles and other forms of entertainment. Some additional commentary on the direction of retail banking can be read here: http://yahoo.businessweek.com/magazine/content/06_14/b3978067.htm |
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