New center demonstrates, tests innovative retail banking concepts.

• Position: Center for Financial Innovation

Great idea! But will it work in the real Perhaps, you've made comments like these when reviewing proposed new branch design concepts. Marketers often want to see an idea in action before they adopt it--to ensure that it will perform the way it was intended.

Now, a retail banking "idea center" has been created outside of Chicago. The center will enable bankers to see new service, sales and technology environments in operation prior to actual bank implementation.

The Center for Financial Innovation, Park Ridge, Ill., is owned and managed by GRFI Ltd./The Frerichs Group, Chicago, and VRA Architects, Park Ridge, Ill.

The operators say that the center will incorporate the latest technology, automation, merchandising and communications systems of interest to the financial services industry. It also will demonstrate retail design concepts intended to produce a "quality experience" for customers.

In addition to demonstrating new concept, the center will also serve as a "research laboratory," utilizing live investment, insurance and business banking operations serving real financial institution consumers.

Operators say that they plan to retrofit the facility annually to illustrate the latest...