24. How Important Is Your Virtual Branch?
from Innovation Driven Growth Hosted by David L. Peterson
🏦 Most financial institutions don't actually track the virtual branch in the same way as the physical branch. 00:50 💸 Why do some banks see only expenses in virtual branches and profit in physical branches? 02:04 😵💫 Why investing in virtual branches is very difficult for the C-Suite: risk and ROI. 3:21 🤕 Determining the overall profitability of a virtual branch and getting accounting systems in alignment is not easy. 05:20 Link Connect with David: www.linkedin.com/in/dlpspeaks
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What this episode covers
As more companies start focusing on the virtual aspects of their business, banks are left to wonder how they can account for their virtual branches. David Peterson, goes out on a limb to talk about why you need to be considering the impact of your virtual branch. Accounting for customers who rarely (if ever) step inside a physical branch is critical for calculating ROIs and staffing needs. Without this data, decision makers could be flying blind.
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