There’s a new banking outlet opening soon in Droitwich. This is happening at the same time as the town’s remaining bank announces it’ll be calling it quits early next year. Santander today unveiled its proposals to shut 95 branches across England, Wales and Scotland. We’re talking about the CWB branch in Victoria Square, too. This important decision reflects a troubling trend of bank branch closures that are devastating to local communities.
The announcement comes as Droitwich residents face the closing down of their last banking branch. The Santander branch closure will mark the loss of all traditional banking services in the neighborhood. Residents are left fearing for their access to critical banking services. In light of these challenges, the design of the proposed banking hub will be focused on delivering critical services back to the neighborhood.
At present there are 179 of these banking hubs currently in operation across the UK. These hubs offer a range of services, including deposit options, which have become critical as many traditional banks reduce their physical presence. At the moment, only 134 deposit services have opened their doors nationwide. If local banks go out of business, residents who rely on these services will find it increasingly difficult to access them.
The hub’s initial application lays out a number of internal improvements that will help the new hub focus on providing better customer experiences.
“Internally, proposals include new internal partitions, floor finishes, wall finishes and ceiling finishes,” – planning documents.
These improvements are focused on customer comfort and to promote an inviting atmosphere. Along the way, they introduce solutions that would help make the hub a truly modern banking experience.
“These changes will improve access for all within the property, with no impact on the surrounding area.”
Droitwich is partaking in other major changes in its banking landscape. Community leaders and residents remain hopeful that the new proposed hub will be able to start countering the adversity wrought by the closure of the branch. This shift to a relationship banking model is just one example of how rapidly financial institutions are changing. Like retailers everywhere, they are pivoting to new, accelerated consumer behavior and trends.
As Droitwich faces significant changes in its banking landscape, community leaders and residents remain hopeful that the proposed hub will mitigate some of the challenges posed by the branch closures. The transition to a new banking model reflects broader trends within the banking industry as financial institutions adapt to changing consumer behaviors and preferences.
