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«We are reversing this ratio as we know that when our customers visit a branch, it is more likely for financial advice. We have reconfigured the branch layout, removed traditional teller counters and created spaces for our customers to hold private conversations about their financial needs and aspirations,» said Phataminviphas.

Concept Branches In Thailand

Similarly, UOB (Thai) based the prototypes of its concept branches on statistical analyses of how customers use the branches and expect of these centers. Last December, UOB announced that it has opened three concept branches across Bangkok that address three specific customer segments, namely families; young professionals and entrepreneurs; business owners and the upper affluent.

Inside its Thai branch located at Central Festival EastVille (pictured below), the Bank has put a colorful and inviting play area for children – a somewhat unusual sight at a bank. 

«Often, the toddlers are the first to come into the branch as they get attracted by the colors,» said Young. While the children play, bank staff can strike up conversations with their parents, who usually linger around. The new branch is open seven days a week, unlike traditional bank branches which typically open only on weekdays.

For Professionals

In contrast, the modern and futuristic branch at 101 The Third Place has more self-service machines and discussion areas than a typical branch. The interior is stylized and minimalist, as it targets mainly young professionals and entrepreneurs. 

The branch also holds the UOB Business Centre which is the venue of the Smart Business Transformation Programme for small and medium enterprises to refine their business models and to adopt digital solutions. 101 The Third Place branch is scheduled for completion by the first quarter of next year.

If Cash Is Here to Stay, So Will Branches 

Those who think that cash is going the way of stamps, think again. A recent news article in Singapore Business Review reads: Cash is still king in Singapore as reluctant elders shun mobile apps. Despite the government's efforts in moving towards a cashless society, it seems that many Singaporeans still prefer cash.

Some people still like the anonymity of using cash, while others prefer the feel of paper money as it helps them control their spending.  That means cash is here to stay, and so would branches, noted Young. Moreover, bank branches always serve as a congregation point for Singaporeans especially when it comes to getting their hands on collectible currencies or new notes for various new year celebrations - the long queues that formed at branches when the Bicentennial S$20 notes were issued recently, is a testament to this.