Transforming the In-branch Banking Experience

Today, in every facet and aspect of business, we’re hearing about the "customer experience" and the "buyer journey."  There is a very good reason for that. With so many different options for consumers, delighting them with a "wow, that was different" experience is key to elevating your brand and adding to your bottom line.

The branch bank is ripe for revolutionizing the customer experience. Here’s how:

The Mobile Expectation:

According to the most recent FIS (a research organization that measures how well banks are meeting consumers demands) study shows that the consumers’ primary mode of banking is on their mobile device. According to the study, over 60% of millennials prefer digital self-service to the in-person branch experience. This is no surprise given the orientation of millennials and the proliferation of mobile devices, particularly over the last decade. Even 40% of baby boomers are going mobile-first with their banking.

A Whole New Experience: 

When a customer does come into a branch to evaluate financial products and services, they expect more than a smiling, friendly face. They expect the trip to the bank to be as quick, painless, and effective as possible.  Many banks are thinking about this in a whole new way - creating cool, café-type environments to eliminating paper-based transactions.  

Many institutions are turning to sales enablement platforms to make this new way of engaging with customers more personalized and interactive. With a sales enablement platform, banking professionals can present and exchange information with customers in a branded, interactive environment on any of their devices. They can also record information digitally using custom forms instead of relying on binders of papers.

Keeping Your Customers Safe:

According to the PACE survey from FIS, most customers "feel safe and secure banking with their primary financial institution." However, if they experience fraud, this changes completely. So much so, that one in four customers surveyed would leave their bank if they experienced fraud. 

Financial institutions need to invest in tools that provide "multi-layered" security protocols.  “This includes education about how to keep accounts private and secure as well as adding tools like two-factor authentication, fraud monitoring, push notifications, card controls and other protection features.” Sales enablement platforms like Bigtincan utilize content-level control that ensure that advisors adhere to guidelines.  In addition, the top sales enablement platforms have intuitive reporting features that streamline compliance efforts.

Bringing it Together:

Today's forward-thinking financial institutions, big and small, are recognizing and moving toward creating that compelling in-branch experience.  Bankers are begging to be outfitted with the latest mobile devices and platforms that deliver value for the consumer, and ease for the branch banker to secure infrastructure, while providing the necessary security protocols to protect the consumer's privacy.

For a real-life example of a financial institution using a sales enablement platform, check out our ANZ Bank case study. ANZ Bank was able to eliminate their paper-heavy processes and increase customer satisfaction, sales meetings, product sales, and banker satisfaction. That’s what we like to call a win-win-win-win.

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