Canada’s TD was the first bank to open a branch in Vancouver’s new up-scale River District waterfront development. The design of its branch is in keeping with the latest design thinking for TD branches, while adhering to the West Coast style adopted by the River District development. Robin Arnfield reports.
River District is a 130-acre site bordering the Fraser River, the longest river in British Columbia, and has capacity for 15,000 inhabitants in 7,000 residences. Opening this Autumn, it has won 10 Canadian and international architectural, urban design and community planning awards. So far, only Scotiabank and a credit union, Westminster Savings, have joined TD in River District.
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In terms of demographics, the community consists mainly of young families, professionals, first-time buyers and people downsizing to smaller homes.
TD’s branch features sustainable interior elements like responsibly sourced wood finishes, recycled materials, low-flow plumbing and energy-efficient lighting. TD says the branch can be reorganized to accommodate the growing needs of the local customer base. It can add more rooms for customers to meet with financial experts, or additional teller space to reduce waiting.
TD says the branch has an inviting, open concept feel to encourage collaboration and conversation between staff and customers. The customer lounge offers a space to gather or wait for appointments with access to a beverage station and free WiFi. Digital displays offer customers access to current information and advice on managing their finances while waiting to see customer service representatives.
“The TD design ticks all the boxes in terms of the latest style of branch,” says international branch banking expert David Cavell. “The River District branch is not dissimilar to the latest style of branches deployed by (West Coast US-based) Umpqua Bank.
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By GlobalDataIn general, the big Canadian banks have been investing far more in upgrading their branches than UK banks have done.”
Branch network
“Our retail network has evolved into a range of branch formats designed to meet the needs of the markets we serve,” says Liz Ferreira, vice president of branch channel strategy at TD. “These include flagships, full-service branches, help and advice (tellerless) centres and micro-convenience centres.”
Flagships and full-service branches offer a range of services including financial advice, teller services and self-serve options such as ATMs.
Help and advice centres primarily focus on providing financial advice to personal and business customers. Although these centres lack traditional teller services, customers have alternative options to conduct their transactions such as ATMs and iPads.
Micro-convenience centres are located near full-service branches and offer self-serve options such as TD’s Green ATMs.
Design principles
“TD is committed to helping people live their lives with greater financial confidence,” says Ferreira. “We translate this commitment into three design principles – comfort, convenience and the community.
“We focus on delivering the most comfortable, convenient banking environment by introducing a warm hospitality-focused design allowing for deeper customer engagement. This is reflected in the use of furniture, layout, colours, lighting, signage and graphics. All new designs incorporate energy-efficient and sustainable elements, e.g. LED lighting, and environmentally friendly finishes.”
Ferreira says TD goes to great lengths to understand the people and places making up the local communities it serves. Each branch reflects a special connection between TD and the local community. For example, new locations have murals or art celebrating the history of the area and representing the community. The River District branch pays tribute to the location’s past with a large mural of the North Arm Fraser River and the Canadian White Pine Company Mill, circa 1946.
“The River District Crossing location is a full-service branch and is designed with all the above principles in mind,” says Ferreira. “In addition, the branch was designed to fit into the architectural style of the new community, and incorporates West Coast design style.”
Vancouver’s distinctive West Coast Modernism architectural style involves wood, glass and aluminium, and reflects the natural environment. According to the Canadian Architect the style reflects the concept that “architecture is rooted in its place by form and materiality, responsive to its climate and other natural forces, and enriched by the integration of artistic influences.”
In addition to TD’s design principles for traditional full-service branches, the River District location has different types of office space to meet the needs of local customer demographics and preferences. “We’ve introduced collaborative offices where advisors sit side by side with our customers, and family offices that comfortably accommodate larger families or businesses,” says Ferreira.
Digital technology
The River District branch will soon include a digital bar, an area where financial service representatives can assist and educate customers on how to do their personal banking on smartphones or iPads. “The digital bar focuses on providing an assisted self-service experience,” says Ferreira. “Financial service officers have iPads to help customers with transactions, and there are interactive terminals that provide step-by-step instructions on how to do digital banking.”
“Digital bars are increasingly becoming a standard feature in new branches,” says Cavell. “The concept has been around for a few years.”
The digital screens in TD locations contain information for customers on products and services, details on the advisors at the branch, and information about TD’s community involvement, says Ferreira.
“With the rise of digital banking, there is less need for people to visit branches for routine transactions, so a focus on and involvement with the local community is important,” says Cavell. “Banks need to find ways to bring people into their branches.”
Ferreira says TD’s Green ATMs are standard across its network and provide an option of various Canadian banknote denominations. “What’s different with newer locations is that ATMs are located physically inside the branch,” she says. “This allows for better customer interactions and provides an opportunity to help customers needing assistance with transactions. After hours, ATMs will still be accessible to our customers.”
The River District branch is open seven days a week.
