There are two things that characterize today’s consumers: they are tech-savvy, and they are in a hurry. To meet their needs, your credit union may want to consider deploying in-branch self-service kiosks to provide them with the modern, member-centric experience they expect. By broadening your technology options, your credit union can deliver an up-to-date, streamlined member experience.
Are you providing your members with modern ways to transact their business? Providing your members access to core integrated self-service banking kiosks reduces the burden on your tellers and allows them to shift their focus to the broader financial needs of your members and, in turn, develop a deeper relationship with them.
Learn how these 7 benefits can positively impact your credit union and better understand the questions to consider when implementing in-branch self-service kiosks.
7 Benefits of Self-Service Kiosks for Credit Unions
1. Transition to Universal Banker Model
Self-service kiosks allow credit unions to transition from a teller-centric model to a universal banker model. Through automating the “transaction zone” within the credit union, branch staff can focus on training, product certification, and engaging in more consultative interactions with members. With 90% of the typical transactions to be transitioned to a self-service channel, tellers are freed up to focus more on complex transactions and in-depth member needs analysis.
2. Increased Sales
Kiosks transform your business to be member-centric by meeting client needs and increasing quality face-to-face time for transactions that matter. When tellers are freed up to deliver higher-value services, they increase sales. Thanks to self-service kiosks, tellers are free to cross sell, and promote other products and services.
3. Increased Product Placement
With a greater volume of mundane transactions removed from teller staff and fulfilled by a self-service channel, tellers can focus on revenue-generating activities like account opening, loan applications, cross-selling, and referrals.
4. Improved Internal Efficiencies
Credit unions are continually faced with challenges to improve internal efficiencies from an operational standpoint. Self-service kiosks at credit unions streamline internal work processes and make branches more efficient. Let us help automate your current "transaction zone” to allow your staff to focus more on complex, consultative interactions. Doing so will support a truly customer-centric strategy to present your branch as a welcoming environment where banking tasks can be handled with confidence and ease.
5. Reduced Expenses
Installing self-service kiosks throughout a branch network affords credit unions a more predictable staffing model, and in turn, reduces overall teller expenses.
6. Improved Member Satisfaction
Providing members access to automation allows them to self-direct their banking experience and reduce service wait times. Inevitably, this leads to increased member satisfaction and higher net promoter scores. Personal Teller Machines empower staff to deliver high-touch, personal interactions.
7. Better-Informed Members
In-branch self-service kiosks also act as digital signage that keeps members up to date on the credit union’s latest products, services, and special offers.
How would a hardware and software strategy enable you to deliver a modern in-branch member experience? This case study describes how one credit union partnered with Source Technologies and an endorsed software provider to implement a progressive member experience.
Evaluating Your In-Branch Self-Service Needs
The financial services industry is continually challenged to invest in optimal delivery channels for the digital consumer. Core integrated, self-service kiosks provide their members, and those evaluating their credit union, the modern in-branch channel they have grown to expect. Source Technologies’ self-service kiosk solutions provide an additional in-branch channel to deliver an enhanced customer experience while improving your branch efficiencies.
As you evaluate your in-branch self-service needs, make sure you define your goals, vision, and objectives before selecting your hardware. The best kiosk vendors will help guide you to the self-service solutions that will drive your larger institutional goals. Talk to one of our financial gurus today to discuss the best solution for your branch and your members.