See TD Bank’s futuristic new flagship bank branch in New York City

0
  • In November, TD Bank opened a flagship branch at One Vanderbilt, New York’s fourth tallest tower.
  • The location is built on an open plan layout designed for flexible guest interactions.
  • The design signals future plans for the TD branch as it shrinks its physical footprint during the pandemic.

Just blocks from some of New York’s most iconic landmarks in Midtown Manhattan is the city’s fourth tallest tower, One Vanderbilt. The 93-story skyscraper, which opened in 2020, is home to one anchor tenant in particular: TD Bank.

In November, TD Bank opened a flagship branch on the ground floor of One Vanderbilt, at the corner of 42nd Street and Madison Avenue. The design was inspired in part by changing consumer behaviors due to the pandemic, and some of its aspects are expected to be replicated at the bank’s other branches.

Based in Canada, the US subsidiary of TD operates more than 1,100 branches across the country and is the eighth largest bank by deposits here, according to FDIC data. According to its latest quarterly report, TD in the United States


retail banking

operations accounted for nearly a third of TD’s overall net income.

Planning for One Vanderbilt’s new flagship space began before the COVID-19 pandemic disrupted the way bank customers retailers talk about their visit to the branches.

But the layout of the new location also reflects how TD Bank and other national banking franchises are now approaching in-person business post-pandemic. The design eschews traditional branch features like rows for tellers and separate spaces for different banking functions, replacing them with employees with “untethered” tablets.

“The days you used to come, you made an appointment and now you’re waiting in the queue – it works sometimes, but it’s not realistic,” Diaz told Insider in December after One Vanderbilt opened. .

This summer, Insider featured 10 of the nation’s top leaders


biggest banks

in charge of branch strategy, Diaz among them. At the time, Diaz said TD Bank had begun to see “permanence” in how customer behavior had changed during the pandemic. Other banks, including JPMorgan Chase, have also started redesigning branches and replacing tellers with employees who can interact with customers with iPads throughout the space.

“What we’re seeing now, almost two years into this case, is that customers want optionality,” Diaz said.

Like other banks, TD Bank has also reduced its net number of branches in the United States as customers increasingly opt for digital products. In February 2021, the bank announced that it would close 82 branches across its US network as it reinvests in


digital bank

and high traffic locations. The closures included 21 locations in the New York metro area, reported the Business Journals at the time.

But Diaz said the new design concepts implemented at One Vanderbilt will spread throughout the bank’s remaining branch network. He pointed to a recently opened location in Orlando, Florida.

“It’s a smaller footprint, but it has some of the same principles,” Diaz said.

Share.

About Author

Comments are closed.