In the late 1990s, President Clinton and Newt Gingrich repealed Glass Steagall where banking could now engage brokerage and insurance transactions. i.e. One Stop Shopping.

Some futurists speculate that banking branches may disappear or not be cost effective in the future.

Certainly, I would agree that putting branches where there are no customers is a very bad idea.

However, here are 25 revenue ideas to transform bank branches to maximize the insourcing of business. The point here is to think of services and products that require a person to be present or other sales generators that can happen “on site” for the convenience of the customer.

It is time to think outside of the box as investment banking can do so much more that we think.

1. Allow for "walk in" and same day medical testing at BANKS for insurability to buy insurance at the branch.
2. Sell life, health, disability and other policies at the branch such as AUTO Insurance, comprehensive auto insurance and even Med Pay.
3. Offer investment advice for a fee at the bank. i.e. 'Registered Investment Advisor" services. Also have licensed valuation experts to value property for insurance purposes.
4. Full Mortgage Services - Sell homeowner’s insurance policies along with providing the mortgage and notary services at the branch.
5. Title Transfer - Offer title services at the bank for: Homes, Property, and Cars.
6. Crypto Safe Deposit - Keep all paper and digital documents at the bank in a "Hi Tech" Safe Deposit Box that is NOT classified as a bank account for IRS purposes.
7. Precious Metals - Allow for Silver, Gold and other (non bank account assets) to be held at the bank in hard or digital form.
8. Merchant Accounts and e-Commerce - Offer same day Merchant accounts at the Branch to allow for processing of Visa, MasterCard and Amex etc.
9. Sell "on the spot" travel insurance and vacation insurance at the branch.
10. Offer passport photos and limited copy services at the branch.
11. Wire and Receive Money - Offer all local and digital payment services which Includes Western Union and P2P PayPal type services accepting cash and distributing cash.
12. Offer "in house" same day Trusts, Living Will, and Testament Services
13. Offer same day Tax Preparation and Refunds.
14. Allow for Pay Day Loans :)
15. Allow for Pledge of Collateral or Digital Assets.
16. Allow for global digital currency conversion and trading to be converted to cash on site and invested at the bank onsite.
17. If legal, offer lottery and off-site betting services.
18. Aggressive 401K or IRA pre package rollover services. New rollover law allows more time but walk in rollovers would be customer friendly.
19. Investing services with ROBO Advisor online functions which grab paycheck dollars and allocate cash to ETFs or Funds to investment accounts.
20. 529 Education Fund or Education IRA services.
21. Promoting Non-Probate Assets such as the sale of proprietary Variable Annuities from the bank branch.
22. Offer bank Etherium or other related exchange services for Digital and Crypto-currency management and purchase of products and services.
23. Allow for in-bank registration of businesses and TIN/Tax ID numbers to better facilitate opening accounts.
24. Better “Bridge Loan” services that utilize collateral or securities as a basis of the short term loan. (Loans outside of Dodd Frank).
25. Offer employee management services – help customers with all types of household employment and handle all domestic employer requirements.

Overall, banks should deeply consider such opportunities. If they do not, other big players will do it. The essence of this article is, “What can we do locally, that can’t be done online, and can it be done quickly on site.”

George Mentz JD MBA CWM Chartered Wealth Manager ® is a licensed attorney and CEO of GAFM ® global education, which is an ISO 29990 Certified professional development company operating in over 50 nations.