Barclays Expands High-Street Presence
In a strategic move to increase its branch footprint, Barclays plans to open new branches, expand existing sites and reintroduce the “bank manager” job title, according to Barclays UK CEO Vim Maru, as reported by British daily The Times. With the intention of striking a balance between great digital services and human touch, Barclays aims to establish an edge over app-based providers such as Revolut and Wise that are rapidly expanding into current accounts.
A Shift in Strategy
Maru, who took over the UK arm of Barclays in 2024, disclosed in his first interview that he decided early on to halt branch closures and is now working towards a larger network than the current 206 locations. He said, “I truly believe that the combination of great digital and great human touch is the future of banking.”
A Blend of Digital and Human Touch
Barclays aims to differentiate itself by combining digital services with in-person assistance. Maru emphasizes the importance of providing help and support when customers need it, rather than having them stuck in a chatbot loop. The plan to open more branches is not just an expansion strategy but also provides a human touch, especially for personal customers and newer businesses.
Branch Closures and Shift to Digital Banking
In recent years, Barclays has considerably reduced its branch estate. Since 2019, it has closed almost 80% of its branches as it pursued a stronger shift to digital banking and cost reductions. However, the planned openings, the number of which Maru did not disclose, would be in addition to shared banking hubs run through the Post Office, where several major banks provide services from a single site.
Growth and Momentum
When asked about reports linking Barclays to possible bids for firms including Santander UK, TSB and wealth manager Evelyn, Maru said his priority was organic growth and that the bank had “strong momentum”. Barclays recorded a peak level of mortgage applications last year and has updated its systems to make products more workable for brokers, cutting application time to 15 minutes from 45. The bank is also applying AI to shorten internal processes and “maximise our colleagues’ time talking to customers”.
With these strategic moves, Barclays is not only aiming to expand its physical presence but also to provide a seamless blend of digital and human interaction, catering to the needs of a diverse customer base.
Source: Here
