Regions Bank (NYSE:RF) today unveiled the company's New Concept Branch, offering customers innovative technology, a new layout, and a new level of personal service designed to enhance the branch banking experience.
The New Concept Branch model is currently available to customers at a newly renovated Regions branch at the University of Alabama at Birmingham campus. An additional New Concept Branch also debuted in a similarly renovated facility near the campus of Purdue University in West Lafayette, Indiana.
"The New Concept Branch model integrates new technology with the human touch that is so important in banking," said Scott Peters, head of Regions' Consumer Services Group. "Our goal is to serve customers when, where, and how they want to be served."
Among the features of the New Concept Branch model is Regions' new Video Teller service. Video Tellers connect customers with a Regions representative via live video chat. In addition to processing most teller transactions, these representatives can help customers with account maintenance and general inquiries.
Video Teller representatives are available to customers during extended hours on weekdays (until 9 p.m. ET), Saturdays, Sundays and most holidays. Video Teller machines also provide customers 24/7 access to most ATM transactions such as cash withdrawals and balance inquiries.
The New Concept Branches offer a 24-hour lobby providing access to not only Video Teller machines but also Regions' popular DepositSmart ATM. In addition to dispensing cash, the DepositSmart ATM can accept deposits and cash multiple checks for customers at any time, day or night.
Inside the main lobby, there is a modern, open layout. The new layout does not include traditional teller lines. Instead, customers are welcomed directly by Regions' Universal Bankers who can help them with all of their branch banking needs. Universal Bankers provide a variety of services ranging from cashing checks and accepting deposits to helping customers develop plans to reach their long-term financial goals.
The New Concept Branches will help Regions develop further branch designs by combining service and technology innovations with feedback from customers.
"We are listening to our customers and providing a branch banking experience that is tailored to meet their needs," Peters added. "The New Concept Branch model will help us deepen our relationships with customers and provide a new level of personal service."