Technology options for branches seem to grow by the day, with amazing opportunities for efficiency and profitability. But when you’ve got limited resources to transform and upgrade a branch, what makes the cut?
For Week 3 of our Fantasy Branch Draft, we want your top technology picks! Read up on the stats to decide, then place your vote.
Let the drafting begin!
Remote Expert Videoconferencing vs. Digital Appointment Booking
Remote Expert Videoconferencing
When a client needs access to one of your remote subject matter experts, video conferencing can provide quicker answers than waiting for an in-branch visit.
- Great for small branches or those with limited staff
- Facilitate services like loans and mortgages even when subject matter experts can’t be present
- Improve sales rates and customer experience
Digital Appointment Booking
Digital appointment booking has been available for clients at some large banks since 2013, but is still not a feature at most branches. Giving clients the option to book an appointment online or in branch has benefits you may not want to pass up:
- Meets today’s “on-demand” client expectations
- Improves client follow-through and sales
- Can allow specialists to be better prepared and manage time more profitably
Cash Recyclers vs. Tablets
Cash recyclers have become a tried and true technology for increasing efficiencies, securing cash, and enhancing the client experience. And today, with added tools like RTA and iQ, you can get even more benefits via remote transactions and analytics.
- Improves cash handling security and accuracy
- Perfect for creating a more open and engaging branch design
- Can provide useful analytics and faster transactions
Tablets may replace some or all desktop computers in branches, reducing costs and serving a wide variety of uses, like digital onboarding, appointment booking and more.
- Lower cost and more portable than laptops and desktops
- Perfect for more open and inviting branch designs
- Useful for presenting interactive content
Instant Issue Cards vs. Paperless Account Opening
Paperless Account Opening and Loan Origination
As more institutions set up online account opening and originations, clients will come to expect a more efficient paperless process when they visit a branch as well. Luckily these options have multiple benefits to the branch and the client.
- Reduces document handling costs and labor, giving staff more time for sales and service
- Less error prone and reduces loan exceptions
- Great for easier cross selling and faster processing
Instant Issue Cards
Instant issue services allows branches to generate new or replacement cards, fast!
- Temporary or permanent card options available
- Improved client experience: fulfills their needs in one place at one time.
- Eliminates packaging, shipping and handling costs and reduces risk of lost or stolen cards
Thanks for your votes! We'll tally up the winners soon for our ultimate Fantasy Branch cheat sheet. Don’t forget to check out all the match-ups:
While the stakes aren't very high for our Fantasy Branch matchups, but they can be for branch transformation.
The right technology can make a major impact on the success of an existing branch transformation or new build. That’s why we’re solution agnostic and believe finding the right components for your unique needs.
If you’re exploring branch transformation possibilities, give us a holler below to connect with a branch transformation strategist!