Branch wars: Banks woo customers with elaborately decked physical spaces

BANKS in Singapore are beautifying their local branches in hopes of delivering something different to their customers, with large lounges and non-financial services on offer.

After pushing customers to do as many transactions as possible online, and consolidating the number of branches across the island, banks now appear to be competing to offer the largest and most elaborate physical spaces.

The latest to join the fray is OCBC, which last month launched what it styled as an “integrated lifestyle and banking branch” at Wisma Atria, along the Orchard Road shopping belt.