How open is the new open-concept Chase branch in San Francisco? Try the front wall of glass literally opens completely to the street.
Located on Union Square in the heart of the city, JPM opened the new self-service, open-concept branch last week. The branch is intended to be an exhibition space showing Chase’s commitment to expanding its footprint in the Golden State, as much a branch for everyday bank business.
“I think the message that we’re sending to California is that we’re all in,” says Todd Maclin, chairman of Chase’s retail financial services in the video [see below]. Chase is focusing on building out its branch network in Sunbelt States such as California, Florida, and Texas, according to information sent to investors in 2012.
Wide-open glass frontage addresses the street and invites onlookers in. And inside, the branch features 24/7 access, self-service kiosks, tablet-based banking, free and secure wifi, a video wall, and roving employees to answer questions and ease the self-service process. But those glass panes that have to taken down every morning look heavy.
Take a look, and pay attention, because self-service is coming to your town too, if it’s not already there.
For more on JPM, check out news from the bank’s investor day, which is taking place in New York today.
Join us at Bank Innovation 2013 on March 18-19, appropriately in San Francisco, for more retail banking strategies.
More expansive real-estate that customers will have to pay for…. You can’t go 2 blocks in SF without walking past a Chase branch. I’d love to see how many million dollars of yearly rent they have in their budget just for that one city.
what a pathetic joke – shows how impoverished the banking imagination is
Patrice, Thanks for your comment. We are going to shed some additional light on Chase’s branch strategy and economics in a post tomorrow.
I can wait for your post Hornblass. I personally think that the investment is so luxurious at the cost of investor’s money. The company will have to analyze the maintenance cost which I predict will be high given the investment made.
Check out http://bankinnov1.wpengine.com/2013/02/chase-bets-on-mobile-and-branches/ for more on Chase’s strategy.
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