From Teller Line to Teller-Less: Aligning Your Mix of In-Branch Employees and Technologies With Customer Interests
As banks and credit unions strive to increase foot traffic at their physical branches, they must continually focus on customer convenience to remain relevant and competitive. But for more and more institutions, technology adoption by in-branch employees is the critical first step in making customer processes easier, more accessible, and ultimately, more profitable.
Given these expectations, how are banks approaching investments in customer-facing technology today, and how successfully are branch staff able to interact with these technologies to streamline customer interactions? Future Branches surveyed 100 banking professionals, representing global banks as well as smaller credit unions, and learned:
- Despite growth in digital channels, 68% claim their physical branches drive over half their total revenue
- 21% believe they lag their competitors in terms of in-branch technology sophistication
- Banks are prioritizing customer-facing solutions, including self-service technologies and digital displays, above other investments
- Respondents’ biggest pain point when investing in new technologies? Training in-branch personnel of different generations to use them in a consistent way.
The full report, sponsored by TimeTrade, discusses these findings and reveals how banks are attempting to align their branch technology strategy to ensure customer and employee satisfaction in the digital banking age.