TSB Banking : continues to deliver £250 million investment programme in branch and digital services

New flagship branch concept revealed with first two sites announced.
Further upgrades planned to modernise and fine tune the branch network including, 10 refurbishments, 25 closures and around 100 refits.

In April 2015, TSB announced a £250million investment programme to ensure its branch and digital offerings meet evolving customer demand. Today, the Bank announces the next phase of the programme to upgrade, modernise and fine tune its network to ensure it has the right branches in the right places.

New flagship branches to open

TSB, which was launched back on to high streets across Britain in September 2013, reveals plans to open new flagship branches, the first of which will be in Birmingham and Aberdeen. This is the first time TSB will launch new purpose built sites, both of which will open their doors to customers before the end of this year.

With 58% of TSB customers saying it is important to have branches near to where they regularly travel to, the new centrally located sites will be ideally placed for people travelling through both cities.

The new branches have been designed in response to customer research and feedback. With TSB customers saying they want a mixture of face-to-face and digital services from their bank branch, this is exactly what the new branches will deliver. With nine in 10 (87%) people requesting more TSB Partners on hand to help them, the human touch and personal service remains right at the heart of these branches. But, with three in five (60%) wanting more self-service facilities, the bank has boosted this element too.

The flagship branches will be set over two floors and comprise of three main areas:

Transact : Three-in-five (60%) of TSB's customers said they want more self-service machines in branches, so the latest in cash machine technology will allow customers to pay in cheques, bills and make other transactions without needing to visit a counter. At the counter, TSB will remove screens to offer a more relaxed and personal service.

Consult : Almost nine in 10 (88%) TSB customers want TSB Partners on hand to help them with more complex money queries. The new branches will have an entire floor dedicated to face-to-face contact with purpose built meeting rooms to ensure both personal and business customers can discuss their finances, as well as TSB's services, in privacy and comfort.

Explore : Three-in-five (61%) of TSB's customers said they would benefit from branch Partners being able to help them with mobile and internet banking. Not only will Partners in the branch be on hand to help customers who have questions about banking online or queries about the TSB app, the new branch, like all TSB branches, will also offer complimentary Wi-Fi. iPads are also readily available in branch for customers to log on to TSB.co.uk.

Finally, large interactive TV screens will be installed allowing customers to explore what TSB has to offer, including 'how to' videos and information on local news and events.

More detail on the innovative design of the new flagship branches can be found here .

Ensuring the branch network is fit for the future

As part of TSB's on-going strategy to ensure it has the right branches in the right places, TSB is fully refurbishing 10 branches and refitting around 100 others to upgrade and modernise its network. These branches will offer better technology, more facilities and improved services, including more self-service facilities and more TSB Partners on hand to help customers.

There are 13 towns and cities where TSB has multiple branches in close proximity and customers are showing a clear preference for one branch above another. As a result the Bank will close 25 of the less well used outlets by the end of April 2017 and invest in the busier ones. This investment is part of TSB's ongoing commitment to providing a strong branch network.

47% of the population will continue to live within two miles of a TSB branch. There will be no compulsory redundancies and TSB Partners in these locations will be relocated to another branch close by so no partner will have to work more than 10 miles from where they do now. This follows consultation with TSB's unions, Unite and Accord.

Peter Navin, Distribution Director, TSB, said: 'Technology is increasingly popular with our customers but they are telling us that there are also times when only face-to-face contact will do. For example, when people are making a big decision, such as buying a new home, or when they need a helping hand. It's at these times the human touch really makes a difference.

'This is why we are continuing to invest in our branch network as well as our digital offering and we're excited to be opening new flagship branches in Aberdeen and Birmingham later this year.

'We've made a commitment to our customers to keep delivering the type of banking they want and deserve; a key part of that is having the right branches in the right places.'

For more information on TSB's branch programme, including a list of closing branches, please visit www.tsb.co.uk/investors/our-branch-programme