Barclays expands flexible banking format
By Iain Gilbert
Date: Monday 30 Jan 2023
(Sharecast News) - Barclays expanded its flexible banking formats strategy on Monday as the lender looks to evolve its physical footprint in response to "changing customer needs".
The London-based company plans to expand its 'Barclays Local' concept by over 70 sites in 2023, in addition to the 200 it opened in 2022. The offering provides in-person banking support in community locations and new banking pods across the UK.
Barclays also said it will launch banking pods as part of its Local service, with the semi-permanent structures providing a "dedicated, private space" in locations such as shopping centres and retail parks, which can be moved depending on demand.
At least 10 will be rolled out across the UK by summer 2023 following the success of the bank's first pod in St Austell. In addition, six electric vehicle banking vans will be added to Barclay's existing fleet of 10, enabling it to reach customers in remote locations.
Barclays' head of everyday banking, Jo Mayer, said: "Barclays Local provides a flexible way to reach customers in new locations and retain a presence where customer footfall has reduced, bringing face-to-face support to convenient locations.
"Our new banking pods and community pop-ups help us to tailor our in-person support for each location, including support with digital skills. In areas where we close a branch, we will maintain our presence in that community offering an alternative face-to-face solution."
As of 1330 GMT, Barclays shares were down 0.16% at 185.48p.
Reporting by Iain Gilbert at Sharecast.com
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