It’s a time of transition and digital transformation in financial services. Whether a retail bank, wealth management firm, credit union, or insurance company with a banking segment, the financial industry is facing dramatic changes on how best to accommodate customers, and what is the appropriate mix between brick-and-mortar bank branches, remote work, self-service ATMs, and digital platforms.
From a customer experience perspective, digital-first is the priority, enabling customer self-service, and digitizing paper-intensive transactions whenever possible.
- Speed is everything as a competitive differentiator, as customers increasingly demand rapid follow up in advisory services, customer onboarding, product discussions, and problem resolution
- Only 14% of banks are in the execution phase of their digital strategy…BDO
As we are seeing a return to the workplace, sustainable buildings are using less energy and water, avoiding waste, saving on maintenance costs, improving indoor air quality, offering comfort to their occupants, and creating less environmental burden on their community. Occupants also know that they are in a building that enhances health and wellness.
- 61% of corporate leaders believe sustainability leads to market differentiation and improved financial performance…USGBC.org
- Operational Excellence is also vital to reduce and simplify on-prem devices, and reduce energy required to operate customer IT facilities
Financial institutions are now working to build intelligent branches. The intelligent branch is designed to execute business with new efficiency. It is flexible to address service needs on-demand, and it operates on a sustainable cloud-enabled infrastructure.
Smart and intuitive building and bank branch design with intelligent software can extract data from existing and incremental hardware investments to deliver insights and ensure a safe workplace.
Flexible workspace, room utilization with people counting, proximity monitoring, and digital notifications are all considerations in safe space utilization.
Other considerations in developing a best practices intelligent branch strategy include the following:
- Frictionless omni-channel
- Intelligent guest wireless
- Virtual expertise & consultation, with private yet comfortable banker engagement
- Customer analytics & insights, including seamless banker application portfolio
- Surveillance & safety to gauge foot traffic, ATM cash withdraws, and drive-through activity
It is now considered table stakes to digitize transactional processes to successfully execute & keep moving the business forward. And most importantly, make all of this easy for the customer. Are you ready?