Citic: Bank Flagship Guangzhou

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

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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.

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Research & Insights

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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.

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Results