Leanne Fremar - How banking has evolved post-COVID

Transcript

00:00What trends have changed in person when it comes to banking after COVID?

00:04Do you find that people are as willing to go in person, or is it that they want to do more virtually?

00:09We're seeing both.

00:11You know, we obviously, I think during the pandemic,

00:13we're one of the essential services that we're operating throughout the pandemic.

00:19Our associates were in our branches and in our offices, you know, five, sometimes seven days a week.

00:26And, you know, and so what we've seen is obviously there's an amazing shift to mobile

00:31for a lot of the easier transaction things across certain segments and sort of, you know, generations and demographics.

00:38But people do love IRL, and so we never count that out.

00:43Instead of sort of retreating from IRL experiences and IRL footprints, you know, in our branch network,

00:52we are building branches, you know, we are going into communities.

00:55We have just launched our new J.P. Morgan Financial Centers, and we are rolling those out around the country.

01:01And, you know, people love a place to gather.

01:04They want a place where they can speak to a human face-to-face who can be empathetic,

01:09who can be private and personal.

01:11And, you know, people want to be heard and to form that connection over a, you know,

01:19a part of their life that is extremely important to them,

01:21which is their financial health and well-being and the planning for their, you know, self or their family or their community.

01:28And so we need to and are honored to meet our customers and clients and small businesses where they are

01:37and continue to lean into that, I think, in the best way.

01:42One of the interesting things in our industry and travel is that people used to use travel agents a lot, right?

01:48Then digital experience came in, OTAs came in, and you could do everything online yourself,

01:55and they went away from travel agents.

01:57And now it's actually harder in some ways to book your trip.

02:01It takes you longer because there's so many places to go search and compare.

02:04And, like, there's now, like, 1,000 hotel lodging brands in the world.

02:10I think it's three times what it was, like, 10 years ago.

02:13And so you sort of see, especially at the high end, this retreat back to,

02:17I want somebody to help me plan my travel, right?

02:19And so we've been thinking about how we work together on that.

02:21We've been working together on that.

02:23And I think that that level of personal touch, the level of expertise that our brands can bring,

02:32the seasoned professionals, like, of course, there are going to be digital tools

02:35that are going to be able to enable those experiences to happen faster

02:39or to think through, you know, all sorts of details.

02:42But that level of engagement has a very high premium on it

02:47in terms of, like, how you identify with a brand, associate with a brand,

02:51and hopefully have a good experience with a brand.