The evolution of financial is changing fast. With new technological advances such as Personal Teller Machines to staff changes, the eye of the traditional bank branch is evolving.
Regular Appointments with the Branch
Before the rise in popularity of mobile an internet-based banking, customers visited traditional branches to conduct banking transactions. We would walk into the branch, wait to get greeted by the personal banker whenever we needed assistance, or head straight to the teller line, where we may queue behind other individuals who had to conduct their own routine transactions. This was the way daily consumer banking was over for 30+ years.
The Changing Bank Branch
Recently, banking institutions of any size have spent significant amounts of time and resources to provide on the internet and mobile banking channels to their customers, that can now transfer money, check balances, get statements and deposit checks utilizing a computer and/or mobile phone. Basic an immediate consumer movement to on the web and mobile banking, some on the market theorized over the past couple of years that the humble bank branch might be becoming obsolete. Might know about know today would be that the branch isn't going anywhere, however it is changing. Finance institutions have already been right-sizing the quantity of branches they operate, and tailoring the branch towards the market appropriately using self-service banking solutions. An institution may attempt a large flagship branch first of their largest markets, or setup a micro-branch with kiosk machines for locations they just don't see the maximum amount of traffic. The push to improve the branch from transaction-centric to sales-centric is driven from the steeply-priced maintaining a normal brick-and-mortar banking channel.
Empowering the Changing Branch Staff with Self-Service Banking Solutions
If on the web and mobile banking has led to less branch traffic, staff members must take full advantage of every customer interaction to cross-sell, up-sell and still provide outstanding service. The part from the teller is evolving dramatically from conducting routine transactions to handling loan inquiries, demonstrating technology or answering financial questions. As financial institutions move toward this "universal banker" concept, there needs to be technology from the branch to handle the simple transactions. The Personal Teller Machine, a self-service banking solution, sports ths Universal Banker concept by equipping the consumer to manage 90% of transactions traditionally handled by a teller without teller assistance. As the role from the bank teller changes, technology providers must provide you with the ways of help loan companies implement new staffing strategies.
