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Citic: 
Bank Flagship Guangzhou

PROJECT

CLIENT

Citic

SERVICE

  • Strategy

INDUSTRY

  • Financial Services

In 2013, China CITIC Bank, one of the country’s largest commercial banks, approached Continuum to design a flagship branch in Guangzhou.

Challenge

With the advent of online banking, many retail banks in the U.S. and Europe have adapted their approach to physical branches, opening flagship locations that differentiate their institutions from competitors and provide a more engaging banking experience for customers.

In China, however, the physical locations of most domestic banks still resemble the cold, transactional lobbies of the past. In 2013, China CITIC Bank, one of the country’s largest commercial banks, approached Continuum to design a flagship branch in Guangzhou. CITIC’s goal was to build customer loyalty as well as increase transaction volume, particularly given the rise in third-party online payment platforms such as PayPal.

RESEARCH & INSIGHTS

Different People, Different Paths

Beginning with extensive customer research, our team discovered patterns in how different types of customers conduct their business within the bank branch. We charted these distinctive movement paths, and created floor plans that optimized efficiency and exposed customers to information about the bank’s products and services that met their needs.

RESEARCH & INSIGHTS

Designed to Build TRUST

Before diving into the design of the new flagship space, our team defined key elements of a positive banking experience. These traits, which formed the acronym TRUST, drove the decisions behind the design of CITIC’s flagship branch experience: Transparent, Respectful, Uninterrupted, Stimulating, and Tangible. We designed every element of technology, lighting, and furnishings to create an experience that integrates these principles at appropriate moments in the customer journey. For example, we designed individual consultation booths that drew the bank consultant and customer together in a more physically intimate exchange than the traditional, long bank counter.

RESEARCH & INSIGHTS

More Living Room than Lobby

While some updated bank branches center their design around new technologies, CITIC’s flagship branch experience focused foremost on hospitality. Drawing on our design work in restaurants and hotels, we developed entirely new interactions in the branch—ones that welcomed customers inside and communicated that their business is valued. Now CITIC customers can access non-banking spaces while they wait for service, where they can enjoy refreshments or read a book.

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Solution

In January 2014, China CITIC Bank opened their new branch in Guangzhou. CITIC was the first bank in China to use the “flagship” model to initiate a series of other banking innovations. Feeling more like a living room than a traditional bank lobby, the flagship location introduced CITIC’s customers to an entirely new kind of banking experience.

Results

After the flagship branch opened in 2014, CITIC saw a significant boost in both its AUM (asset under management) and savings deposits. This increase in deposit transactions was accompanied by a doubling of high net-worth client accounts, as well as remarkable increases, ranging from 380%-1940%, in sales-performance metrics.

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