It's no secret that bank branches have changed over the years. Large stores with long teller counters for cashing and depositing checks have made way for flexible spaces that are adaptable based on the type of interaction taking place with a customer. As banking behaviors continue to evolve, TD is making a significant investment into its store network through the Next Generation (NextGen) Store Program.
Although customers continue to adopt digital banking at an increased clip, TD's stores remain an important customer channel. The NextGen Store program will assist in meeting customers' expectations for personalized advice and guidance, modernizing hundreds of locations over the next several years to facilitate deeper conversations around advice, education and financial literacy.
"When it comes to more complicated financial conversations – such as buying a house, starting a business or investing – customers still desire in-person interactions and look to TD for financial guidance," said Steve Turley, Head of Consumer Distribution Strategy, Planning and Innovation. "We're taking the necessary steps to enhance the in-store experience so that our customers feel confident discussing their financial future with us."
Most of the stores participating in the NextGen Store Program will receive dedicated TD Wealth Financial Advisor offices for private conversations with customers about financial and retirement planning. Ahead of the NextGen Store program launch, TD tested the customer experience with increased access to Financial Advisors in select stores several days per week.
In select stores, traditional teller lines will be replaced with sit-stand workstations to offer ultimate flexibility and to quickly adjust workspaces depending on the type of conversation a customer is looking to have. Some locations will feature new "lobby stations" where customers will be greeted and can receive assistance from colleagues equipped with tablets to seamlessly assist them with simple requests and transactions. These new features will allow store colleagues to adapt and service customers with greater efficiency during peak business hours.
The NextGen Store Program will also refresh TD's brand to reflect individual communities and give stores a modern look and feel. This will include murals and other artwork representative of the local area; new signage and menu boards to welcome customers; and upgraded digital screens to inform customers of the bank's products and services, tailored to the financial needs of personal and small business banking customers.
Looking ahead, the NextGen Store Program will position the bank to continue to meet the needs of customers from Maine to Florida, setting the stage for store growth and continued expansion of TD's Wealth business.
"This is an important step on our journey to becoming the better bank,” said Ernie Diaz, TD's Head of Consumer Distribution, Wealth and TD Auto Finance. "We look forward to growing in the markets we serve and enhancing how we deliver financial advice to our customers across the footprint."