Future of bank branches: LZO relies on a hybrid model for more customer service

Future of bank branches: LZO relies on a hybrid model for more customer service

Oldenburg, Deutschland - The Landesparkasse zu Oldenburg (LZO) is breaking new ground in its strategy of customer loyalty: While many banks are increasingly reducing their branch networks because of digitization, the LZO relies on hybrid business models. According to a report by , the bank branch remains a central element of customer experience. Instead of relying on full digitals, the LZO combines traditional branch services with digital offers. With innovative concepts such as the video service "Amelie", which enables personal advice via video telephony, access to banking services is optimized for both digital affine and for traditional customers.

The year 2020 was a year of growth for the LZO. When presenting the business figures, Michael Thanheiser, the chairman of the board, reported that the balance sheet total has increased to 11.6 billion euros, which corresponds to an increase of 13 percent. The bank recorded record-breaking credit and loan commitments of 1.96 billion euros, especially in real estate. The pandemic has already shown its digital thrust clearly, as can be seen from the numbers of Press Center of the LZO : The number of private accounts opened for online banking rose over 267,000.

The LZO also deals intensively with sustainability and pursues the integration of environmentally friendly practices into its business model. Thanheiser announced that the bank will actively support customers in investing in sustainable investments, in accordance with the political goals of the EU. In 2020 alone, the LZO turned 4.2 million euros for social commitment, which underlines its responsibility in the region. Despite the challenges of Corona, the LZO is optimistic and well positioned for the coming years, while it continues to use the advantages of digital services without neglecting personal advice.