Customers everywhere are increasingly looking for frictionless and personalized experiences all with the option of being self-service. In banking this requires a more digital mindset, shifting both technology and culture.
To stay competitive, banks need to embrace new digital technologies and blend them into their physical branches. Doing so will empower their employees to focus on more meaningful, profitable customer conversations while being more efficient and modern. This will ultimately drive loyalty and help you deliver innovative services to improve your competitive advantage. It is important to determine which technology and trends work for your specific branch. You will want to make sure you meet the needs of current customers, but also appeal to non-account holders to visit your branch. Here are the most important digital banking trends to consider in 2022.
1. Self-service Kiosks
Being able to optimize your teller resources truly starts with self-service kiosks. This technology enables customers to get out of line and transact when and where they want, improving customer experience while lowering operating costs.
2. Cash Recyclers
Cash recycling has been a viable solution to drive cultural, operational, and process change. Incorporating a cash recycler into your branch will not only drive down operating costs, but enhance business performance. They enable faster teller transactions which allow staff to better serve customers and also significantly reduce start and end of day processes.
3. Strategic Branding
Branding is not what it used to be. Today’s customer has a shorter attention span and is expecting more all in the same token. Work to ensure the critical messaging for clients is not only delivered in the right medium, but also the right locations. This can mean in-store digital displays upon walking in, to online content creation and placement on your website or other advertising channels.
4. Coin Sorters
An easy way to streamline cash processing and get people to visit the bank is by adding a lobby self-serve coin sorter. Implementing such technology can transform the way notes and coins are handled, pivoting what can be time-consuming verification tasks into a straightforward, efficient process that ensures an accurate count every time. This allows for employees to focus on more important roles such as customer engagement and growing sales.
Differentiating your branch from the competition starts with taking a new approach to technology and branding. The trends mentioned above allow your tellers to be freed of repetitive transactions and able to focus on customer engagement and growth. Customers have access to serve themselves in the manner they desire and your branch can deliver the highest impact on its marketing budget.