Little
Chelsea Groton Bank
Groton , CT
Project Type
Interiors, Service Retail
Size
1,800 Square Feet
Design Services
Architecture, Brand Experience, Interior Architecture
Result
98.7% Customer experience satisfaction rating (from 57%)
With the success of online banking offerings, customers are finding increasingly less value in the traditional, physical branch and were coming into the branch less often.
This challenge became an opportunity for us to develop an experience design strategy to “unbank the bank”, resulting in the transformation of their Groton, CT branch into a community destination for financial wellness and empowerment.
Design Awards
- VM+SD Magazine’s Retail Renovations Competition – 1st Place
- IRDC Retail Renovation Award
Project Goals
The client’s aim was to redefine all that a bank can be and do for people, businesses, and communities, and in order to remain relevant, their branches needed to emulate that philosophy.
During initial strategy sessions with key stakeholders, a transformational insight beyond architecture was revealed. The branch would become an educational hub, giving it a higher value and purpose, by creating a consultative, educational and social space, rather than a transaction-only destination.
Objectives:
- Create a destination for financial education
- Reinforce Chelsea Groton’s key differentiators
- Increase foot traffic, and subsequently financial transactions
Solutions
The new branch concept is centered around providing a reimagined customer experience. Giving users the access to discover a variety of financial services and opportunities.
A Learning Atmosphere
The branch design core focus centers around adaptable functionality and accommodating various financial transactions.
The Knowledge Library features a reading nook to focus and learn, while Casual introductory conversations happen at the booth near the entry or at the Knowledge Bar. Strategically placed tablets enable independent learners to delve into topics of interest, supporting a driver of the remodeled design to meet customers at their comfort/knowledge level.
The folks at little made a real point right fromm the beginning to understand who we were as a company.
We have an existing culture and brand and they really embraced who we were and helped us
advance that cause.
Chelsea Groton Employee
Results
Chelsea Groton Bank’s
reinvented branch design has become a welcoming destination where customers gather, learn, share and encourage each other in the common pursuit of
financial well-being.
As a place where associates, customers and the community feel at home, the store’s first year after its transformation, income derived from financial services doubled from 40% to 80%, and loan production nearly tripled.
- 98.7% customer experience satisfaction rating
- 223% of goal for loan production achieved
- 108% of goal for core deposit units achieved
