As we look at advancements in today’s bankingchannels, we are seeing significant enhancements in the waychannels are presented to banking customers and credit unionmembers and an occasional juggling of roles. We are seeing atweaking of the traditionally full-service branch channel and thepreviously exclusive self-service model.
These branch business models can now include elements ofself-service and assisted-service with the use of kiosks andATM-like devices in some teller lines, with the self-service models(like ATMs) now being able to interoperate with tellers and contactcenter personnel via video feeds and live chat.
Financial institutions are increasingly evaluating emerging branchmodels and branch configurations such as hub-and-spoke branchconfigurations that include standard, mini, and in some cases,flagship branches. With such a model, financial institutions canequip branches with both live and remote tellers to help customersand members throughout a market.
In addition, by leveraging newer technologies such as intelligentdeposit/deposit automation ATMs, video-enabled ATMs, personalteller machines, kiosks, and tablets to assist customers, somefinancial institutions can now offer improved service moreefficiently and effectively than ever before, up to and including24/7 service.
Today’s emerging hybrid self- and assisted-service business modelscan meet consumer demand for any-time, anywhere banking access andconvenience with the expertise that only staff can provide. Thenewly implemented technologies are not the only evolving channelsof advice and service being used by financial institutions.
Tools designed for use by branch personnel like teller automationimprove face time between the bank and the customer, enhancing therelationship. Financial institutions are now extending the “branch”environment beyond the brick and mortar state thanks totechnologies like teleconferencing, so that contact and supportcenters are now close to the front line.
Within these changing branch configurations are new opportunitiesto reach promising, highly profitable clients cost effectively,including extensions into such areas as wealth management and smallbusiness banking. Whether servicing customers at a flagship branch,a traditional branch, a mini-branch, or via virtual or self-serviceinteractions, banks and credit unions can be available 24/7 tomeet-and hopefully exceed- overall customer and member needs.