Here’s Why Banks Rely on Modular Construction
If you've ever had a checking account, savings account, or type of loan, then you probably know that banks are an integral part of your every day life. They help you to manage your money on a daily basis, among other important uses. But do you really know how they work?
Here we'll explore the current state of financial institutions in this country, and why many of them rely on modular construction for their business continuity plan.
The Current State of Banking in America
According to statistics by the Independent Banker, there are an average of 42 locations per bank. That means, that most banks invest in over 40 brick-and-mortar locations to support their operations. And even though mobile banking has increased since the pandemic, branches are still opening, “several banks opened branches by the dozens in 2021, as lenders continue to use retail branches as a marketing and consumer acquisition tool- even while more consumers use digital and mobile services.” -SPGlobal.
Bank branches offer services beyond deposits and withdrawals. Some of the most essential services include:
- Account opening
- Safe deposit lockers
- Foreign exchange services
- Gold retail
- Deliverables, such as check books, debit cards, PINs and passwords
- Customer service for queries and complaints
- Investment services
- Loan and mortgage applications
- Closure of accounts
This quote from lopol.org describes perfectly why physical banks are still an important commodity in this country:
Branches are capable of handling a variety of services that customers simply cannot receive over the phone or on a mobile app. At the end of the day, there is a great benefit you receive with a personal face-to-face business interaction.
Temporary Modular Banks for Disaster Recovery
Decades ago, modular buildings were not considered to be much. They were typically small portable structures used for homes, classrooms, or offices. And although they are still used for these purposes, their overall durability, functionality, and quality have improved substantially. Today, these structures can be built to reach multi-stories, and can even be built as permanent structures. Due to their flexible nature and affordability, they’ve become the go-to choice for many industries across the country.
When it comes to modular, banks are no exception. As you most likely are aware, banks require their own set of requirements. This can include special features, specific functionality, as well as security and safety. Believe it or not, modular bank buildings can meet and exceed all the demands that a financial institution has.
Here are some of the design features that can be incorporated into a modular bank to meet your operational needs:
- Foundations to support heavy floor loads
- Specialized bullet resistant glass for teller stations and drive-up window
- Alarm systems and CCTV
- Heating and cooling systems
- Interior teller stations
- Private offices and restrooms
- Handicap access ramps and stairs
One requirement that banks have to have is a disaster-recovery plan in case of emergency. Should a tornado, fire, hurricane or other natural disaster happen, banks need to have a continuity plan for the aftermath.
With modular buildings, temporary banks can be delivered and set up for immediate use. This includes drive-thru teller windows, safes, security features, and more. Modular buildings are quite literally the only type of construction service that will provide a bank with immediate facilities. Not only that, but the buildings can be used for as long as the bank needs them during their permanent rebuild. For more information about disaster recovery plans for banks, listen to episode 12 on our podcast, Built Modular.
For decades, we’ve partnered with banks like yours to understand their unique business continuity needs, and to give them peace of mind should the worst happen. We help you meet your business needs while delivering fast, affordable, modular space solutions.
Fore more information on our modular bank buildings and disaster recovery program, contact us today: (877) 966-7839 .
Ready to solve your space needs?
Modular buildings are the way to go. Request a quote or contact us today to get the conversation started. We’d love to talk to you about how modular can meet — and exceed — your needs.