The UK’s Halifax Bank (part of the Lloyds Banking Group) has released data from a new survey showing the evolving nature of banking transactions across multiple channels. According to the results of the survey, more than half of the branch visits recorded in June saw interactions conducted through self-service machines rather than involving human interaction.
Commenting on the results of the survey, Nick Williams, digital director at Halifax said:
“The future of banking means continuing to deliver great service across all channels, enabling our customers to bank where they want, how they want and when they want. A growing number of customers want the best of both worlds – the convenience of banking on the move, alongside a helping hand from their local branch when they need it. We are committed to giving our customers extra by providing services that meet their banking needs across mobile, online, telephone and branch banking.”
The shift to more automated branch interactions coupled with rising online and mobile banking use would suggest that the role of bank teller might be endangered but this is not the case. There will always be value in human staff at branches whether they are there to help when technology falters or to provide financial advice and to cross-sell payment and banking products. So while branch interactions between consumer and bank are bound to change, the role of branch staff should adapt accordingly and not remain static.
Overview by Tristan Hugo Webb, Associate Director, Global Payments Advisory Service at Mercator Advisory Service
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