As we look back at key takeaways from therecent BAI Retail Delivery Conference, and ATM, Debit & PrepaidForum, there were several themes that weaved their way throughvarious presentations and conversations.
First, there is considerable traction in moving common transactionsaway from the branch and call-center channels toward self-servicechannels, particularly ATMs, online banking, and mobile banking.Such a migration can equate to a savings of $1-to$2 pertransaction, and sometimes more. In addition, with the use ofnew-generation ATMs and mobile banking products, customersatisfaction can remain high, resulting in a win-win arrangementfor customers, members, and financial institutions of allsizes.
At the core of this premise, however, is the desire and need toserve customers and members when, where, and how they want, and notforce them to use a particular channel. This multi-channelcollaboration offers choice and flexibility for all, resulting inmore efficient and effective processes and customer service.
There also is a movement underway to squeeze more actionableinformation out of existing data through customer and profitabilityanalytics, providing deep knowledge and insight into customerwants, needs, and behaviors. This transformation toward a morecustomer-centric knowledge base is still in its infancy at manyfinancial institutions, but is proving to be a critical successfactor for many. An ability to better transform data to informationis leading toward increased relevance of FI products and services,greater customer engagement, and improved profitability forFIs.
