While the most revolutionary change in banking is the widespread use of online banking that has mostly obviated branch visits, traditional brick-and-mortar branches still exist. There are a few tasks like confirming a customer’s identity and discussions about loans, which still necessitate a visit to a branch. Not to mention the fact that several people prefer the experience of walking into a solid bank building to conduct their financial business because it provides them with a comfort level and security that online banking may not.
In order to adapt to changing times, banks that have retained their physical presence have redesigned the in-person banking experience to match the cool-factor provided by online or mobile banking. Banking software for collection and recoveries, online banking and bill pay, and even banking from home or via a cell phone are driving forces in the banking industry.
A few of the key trends are discussed below.
Conceptualizing new ideas
Designers are provided with creative work spaces so that they can invent radical new concepts and technologies to make the banking experience trendier. These spaces are innovation labs that are equipped to nurture creativity. Designers are furnished with gadgets to play around with and use in their experimental and conceptual designs, which they also get to test on volunteer employees and customers.
Beating the queue system
One of the more frustrating aspects of customer service is the delay and boredom involved in waiting in a queue. While the queue system has not exactly been dispensed with, it has been streamlined using smart technology that is available. These systems make it possible for a customer to join a virtual queue instead of standing in a physical one. The customer then enters the building when their turn approaches, saving them time and energy. It makes the banking experience much faster and more pleasant.
Keeping the customer occupied
Despite all the new time-saving tools, customers do need to wait to be served sometimes. In such a scenario, banks have adopted ways to keep the customer entertained and occupied in order to prevent boredom or frustration.
Some banks provide computer terminals and tablets, which the customer can use to access the internet. Large touch-screens called interactive walls are another trendy new way to help customers kill time.
Making the teller interaction electronic
Teller kiosks are a smart and modern way to make the banking experience more efficient. Several tasks that the teller performs can be done electronically at a self-service interactive kiosk in the branch. This makes the experience faster for the customer, while reserving the resources of the human tellers for those tasks which require discussion and cannot be performed by a kiosk.
The use of teller kiosks has radically altered the physical design of the bank’s interior space. Instead of having a teller wall that could be considered an unwieldy and outdated concept, the space can have a smattering of sleekly designed kiosks arranged around the room, lending it an airy, contemporary feel.
Providing additional services
To make the experience more enjoyable, banks are adding on supplementary services at their physical locations. This also allows customers to multitask. For example, an attached coffee shop not only makes the branch more chic and lively, it also allows the customer to perform the task of buying a cup of coffee while they are banking.
Using innovative technology
Creative new ideas can not only make the user experience of banking at a branch more efficient, it can also be enjoyable to the customer. An example is a sensor that detects the arrival of a customer, immediately providing them with an interactive screen to browse the products and services on offer. They can then make a quick selection and start conducting their business right away.
The range of new technologies and innovations has made the in-person banking experience modern and avant-garde. It saves the customer time and energy and ensures maximum customer satisfaction.