By Tim Baker | August 02, 2017
There are five channels that consumers use to interact with their financial institutions: mobile, online, call center, ATM and the brick-and-mortar branch. All of these channels have seen significant investment in recent years except one – the branch. In order to deliver a true omni-channel experience, financial institutions are investing in their retail locations and re-thinking how they serve their customers. Source Technologies’ Personal Teller Machines can help you transform your branch and provide even better customer service.
Transforming a branch is no easy task, especially when there hasn’t been a significant change in the way we conduct business in branches for 50 years, since the introduction of the ATM took us outside of the branch to get cash. Branch transformation projects encompass a lot of moving parts and can involve dozens of decision makers inside the institution, which can make for an extremely complex project. Transforming branches means considering construction, design, size, layout, technology, and new staffing models. Each of these items influences the others.
Ultimately, the goal is to welcome customers back into the branch and provide outstanding service – better service than they have experienced before with their financial institution. Self-service kiosks reduce the number of transactions that require teller assistance, meaning staff can spend more time helping those who really need them.
It’s no longer enough for branches to be transaction-centric. For the institution to benefit and the customer to receive great service, branches have to evolve to a consultative environment where customers can get information, ask questions, and seek advice. For staff to be able to deliver this kind of personalized service, they must no longer be burdened with the routine transactions that are so expensive to perform and that take them away from their consultative roles. What will the branch do with the routine transactions that people still seek in branches? When someone needs a cashier’s check? Or a cash withdrawal in specific denominations that the ATM can’t serve? What can be done with those transactions when you want your staff focusing on other, value-added activities?
Self-service banking kiosks allow customers to perform 90% of the transactions traditionally handled by a teller. The Personal Teller Machine integrates directly to the institution’s core platform, which allows this device to offer many more transaction options than an ATM. Once the transactions are moved away from personnel and onto a self-service kiosk, staff are free to deliver the level of service that financial institutions are striving to provide. See first-hand how Personal Teller Machines work in this video demonstration and contact us to learn more about how our self-service kiosks are transforming the branch experience.
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