Retailers have excelled in using technology to modernize the customer experience. Running errands on your lunch hour has never been quicker or easier: before leaving the office, pre-order and pay for food from a quick-service restaurant on your mobile phone. Speed past the line to pickup your meal and while you’re there, pull up your coffee shop app and order your favorite drink. Stop by the grocery store to buy a few items and speed through the self-checkout aisle. Everything is moving along quickly and easily until you stop by your bank to get a cashier’s check. Currently, the bank branch is far from offering the self-service retail experience that you are used to everywhere else.
Self-Service Retail & The Role of the Bank Branch
The bank branch is still the number one sales and consumer banking channel. Consumers have embraced digital banking, but they still use branches. To better connect the digital and branch channels, financial institutions can benefit from integrating more interactive technology, such as self-service kiosks for banking into their branches. This technology allows the customer to complete routine transactions without having to wait in line, a more consistent experience for the digital-savvy consumer.
Bridging the Gap Between Self-Service Retail & Branch Banking
At Source Technologies, our Personal Teller Machine offers bank branches the self-service technology and integrated kiosk software that can bridge the gap between digital and branch banking environments. Why not utilize the same technology that retailers use and allow customers to pre-order banking transactions on their phone? These “pre-staged” transactions are then completed when the customer stops by the local bank branch, authenticates through the NFC reader on the self-service kiosk, and the transaction is presented on the screen for completion. When bank staff isn’t consumed with processing routine transactions, they can focus their attention on providing better customer service and cross-sell initiatives. Even with the adoption of online and mobile banking, customers still rely on branches for financial advice, account opening and more. By connecting the mobile digital experience with self-service technology in the branch such as the Personal Teller Machine by Source Technologies, financial institutions make it faster and easier than ever to “stop by the bank” during your lunchtime errands.
To learn more about our personal teller machine to create a self-service retail experience in your bank branch, contact Source Technologies today!