10 February 2016

PNC opens pop-up branch

02 August 2013  |  5822 views  |  0 PNC pop-up

PNC Bank has opened its first pop-up branch in Atlanta, ditching tellers in favour of consultants who will help customers with more complex transactions and show off mobile and online services.

As more consumers turn to digital channels to conduct their daily banking transactions, the downward trend in branch activity levels is accelerating, fuelling the debate over the value of branch networks in a 21st century banking model.

Analyst house Celent says that the banking industry will soon respond to the obvious migration of customers to new digital alternatives and is forecasting a dramatic 30-40% reduction in the number of operating branches in the US over the next decade.

PNC is experimenting with a 20x8 foot pop-up branch, which will be open for three months at Atlantic Station in Atlanta. Instead of tellers, the branch will be staffed by financial services consultants who will help with new accounts and personal loans along with referrals for mortgages, investments and merchant services.

The consultants will also use iPads to demonstrate online and mobile services such as the PNC Virtual. For routine transactions, a 'smart' ATM will be available 24 hours a day for customers to withdraw and deposit cash and cheques.

Todd Barnhart, EVP, branch banking, PNC, says: "When it comes to major financial decisions, most customers want a face-to-face conversation, so our emphasis is more on in-depth conversations vs. routine transactions, which can usually be done via our ATMs, online or mobile options."

PNC is also testing two other potential new paths for its branch network. In Philadelphia an open plan technology packed 'solutions centre' is being piloted, while in Pittsburgh a 'mini e-branch' is on trial.

In a similar move, Wells Fargo recently outlined plans to open a series of technology-packed mini-branches in neighbourhoods that cannot support full-sized outlets. Meanwhile, Mountain America Credit Union has put a 'technology champion' in every one of its 76 branches to help members get up to speed with its mobile and online services.

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

25 June, 2013
14 June, 2013
24 May, 2013
17 May, 2013
16 April, 2013
12 April, 2013
04 April, 2013
28 February, 2013
11 December, 2012
15 October, 2012
05 August, 2008

Related company news

Your browser is unable to support Flash files.

Top topics

Most viewed Most shared
Fintech rising: Resistance is futile, says...
12217 views comments | 52 tweets | 45 linkedin
UK sets out open banking API framework
10932 views comments | 79 tweets | 75 linkedin
Visa opens up to developers
8974 views comments | 24 tweets | 41 linkedin
European mobile banking service Pocopay go...
7562 views comments | 24 tweets | 14 linkedin
How to accelerate your fintech startup
6466 views comments | 28 tweets | 9 linkedin

Featured job

Paris (France) or Brussels (Belgium)

Find your next job