After successfully launching its “Occasio” concept in Las Vegas, Washington Mutual, Inc. (WAMU) plans to expand the retail-oriented, high-tech banking concept. The first site to benefit from it will be its Poulsbo branch located at 20350 Little Valley Road N.E.

“Early results at our five de novo branches in Las Vegas have surpassed those we typically experience with new financial center openings,” said Brian Parker, Washington Mutual regional manager for Northwestern Washington. “In the first few months we opened twice as many checking accounts as we usually open at our average de novos, and our deposits are nearly three times as high.”

Occasio, a Latin noun meaning “favorable opportunity,” combines banking and customer service with a retail experience and environment more reminiscent of The Gap or Starbucks than a typical bank branch.

The Occasio concept, which was 18 months in development, is part of an overall strategic plan for Seattle-based WAMU. After extensive customer research and testing, the end result is an emotionally appealing retail environment that maximizes customer choices and streamlined processes to make banking quick and easy.

It includes customer service innovations like a concierge station, a kid’s area and “Smart Touch” touch screens with operational innovations like “teller towers” and “e-teller” hand-held computer devices designed to improve customer service, increase employee productivity, and streamline transactions.

WAMU opened its first five Occasio branches in Las Vegas in April of last year and now has a total of 16 in Southern Nevada, and plans to open 40 in the greater Phoenix area. “We had new customers waiting in line for our doors to open,” said Parker. “It’s the first time I’m aware of that a bank entering a new market received a reception like that.”

Occasio branches actually look and feel like retail stores. Customers accustomed to traditional branches will be surprised when a khaki-clad “concierge” greets them and then escorts them to the appropriate service area.

A team of customer service representatives, who are also casually dressed, staff the floor. Some carry “e-teller” hand-held computer devices to assist customers with transactions right on the spot, others offer assistance from various workstations.

Traditional teller windows have been removed. Instead, money is dispensed automatically from state-of-the-art “teller towers” where customer service representatives and customers can more easily interact. The towers not only eliminate the need to count out money; they also free up the representative’s time so they’re readily available to serve the customer.

Unlike traditional banks, there are no desks in sight either. Representatives staff customer consultation areas where checking accounts can be opened, and loan applications taken.