Bank of Beijing brings “Open- Counter” branches to China
Reduced waiting time, improved cross-selling and branchs with a unique look and feel made Bank of Beijing the Best City Commercial Retail Bank in China at The Asian Banker Excellence in Retail Financial Services Awards 2011. March 16, 2011 | ResearchIn 2010, Bank of Beijing’s assets increased by over 30% while deposits grew by over 70%. It expanded its retail business to include consumer finance and life insurance at a faster pace than its peers. The bank also established a second overseas administration office in Amsterdam to augment its international strategy as well as deepen co-operation with the ING group. It also doubled its sale of wealth management products and became the first city commercial bank to venture into the business of selling private equity. Also, Bank of Beijing brought the “Open Counter” branch model to China.With the aid of ING, Bank of Beijing has explored the community bank approach since 2007. In 2010, the bank revamped this concept into a “Home Bank” model, which treats the family, rather the individual, as a service unit. Aligned with this model, Bank of Beijing has redesigned its branches from the viewpoint of sales process optimisation. In order to reduce waiting time, improve cross-selling and give the branch a unique look and feel, Bank of Beijing introduced the “Open Counter” concept. In the “Open Counter” concept, the flow of customers is managed through a lobby assistant directing machine, which refers customers to the right areas—self service, “Open Counter” or “Closed Counter”. The “Open Counter” is dedicated to financial consulting, wealth management, insurance sales and account opening, among others. The “Closed Counter”, which as regulatory requirement has to handle all transactions involving cash, can be more efficiently run, as time consuming transactions, such as account opening and advisory is are directed to the ‘Open Counter’. This reduced waiting times, enhanced customer experience as well as staff quality in financial advisory. Though not a new concept to Asia, Bank of Beijing is the first local Chinese banks to implement such an ‘Open Counter... Please login to read the complete article. If you already have an account, you can login now or subscribe/register.
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