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Too Many Tellers Or Too Few Transactions? The Answer Is “Yes.”

The pandemic did a number on branch transactions, and we have the numbers to prove it.  

Data from Curinos’ Distribution Analyzer show a 37% decline in average transactions per branch between 2019 and 2023. Over the same period, the number of branches with fewer than 2,000 transactions jumped from 7% to 24%. In these branches, the average teller FTE produced only 847 transactions per month – around 40 per day (see chart). 

At all branch sizes, productivity was off significantly, and the shrinkage was magnified because the number of branches declined by ~10% on average, forcing more of these fewer transactions into fewer branches.  

The upshot: extremely unproductive branches and very little opportunity for additional workforce savings, in large measure because staffing levels are already at their minimum.    

The needed response: increased creativity around the branch operating model. FIs need to thoroughly revisit branch processes, workforce roles, hours/days of operation, branch formats, enabling technology and staffing.  

Sure, it’s a heavy lift, but the future of branch delivery depends on it.  

Both branch and teller transactions have declined significantly. ​
Source: Curinos Distribution Analyzer​

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  • Author
    • Andrew Hovet

      Andrew leads the Distribution and Sales Performance practice at Curinos.  His work includes leading advisory projects for clients in these domains and providing a series of benchmarking and analytic platforms to help accelerate retail banking performance.   Andrew assists clients with their distribution network and workforce challenges, with a specific focus on the transformation needed in light of changing customer behaviors.  Andrew’s career of more than 25 years has included roles in both retail banking and consulting.

      View all posts Managing Director
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