Technology has changed the face of banking. In the last few years, the pace of change has increased, with apps and more eliminating customers’ need for the bank branch.
While customers prefer to handle some transactions online or in-app, they favor face-to-face interactions for others. You’re more likely to see a customer when they require financial advice, for instance, rather than just make a deposit.
This has shifted the focus of most bank branch operations. Tellers were once concerned with simple deposits and withdrawals. Today, they’re more likely to help customers explore their credit card options or discover a better loan solution.
The technology within banks has been changing too, which is good news for bank branch managers seeking to improve the customer experience. If you want to deliver better customer service, back-end automation might be the answer.
The Customer Experience in Banking
Before you explore how back-end automation makes a difference to the customer experience, it helps to consider what the customer experience is.
As mentioned, customers are more likely to pop into a branch to deal with a complex request. They might feel the transaction needs more security, or they could be seeking advice in choosing among various alternatives. While they may feel confident using an app for many routine tasks, they desire face-to-face reassurance for others.
When someone arrives at your branch requesting help, it’s up to you to ensure the ideal customer experience. How long do they wait in line? Is the transaction quick and easy to carry out? How much time does the teller spend with them? Does that staffer help them understand their options and feel confident making a choice?
It’s a tall task. While you might see how something like an ATM provides efficient service, you may wonder more about how back-end automation can make a difference.
The Right Floats at the Right Times
Automation can help you keep your cash overheads at the right amount. While this may seem to offer more benefits to you than the customer, it could help improve your customer experience.
You might be concerned with paying too much in fees to have lots of cash on hand, but your customers will be inconvenienced if you can’t provide the right cash for a withdrawal. Not having enough cash on hand can be as much as a problem as having too much.
Automation helps you create the right deposit and withdrawal schedule. This both streamlines your fees and ensures you never have a shortage. Your customers will leave with the cash they requested and a smile.
Automation Frees Time
Perhaps the biggest advantage of back-end automation in improving the customer experience in banking is how much time it frees up.
You need your team ready to spend time with customers when they enter the branch. The customer took time out of their busy day to handle a transaction they think is important. If your tellers rush through the transaction because they need to get back to counting cash or ordering deposits, your customer probably won’t rate their experience highly.
Automation in the back room helps redirect your staff’s time. When they’re freed from the tedious tasks of counting and sorting cash, they can spend more time helping your customers work through their choices. In essence, automation shifts your team’s focus to customer service.
Redirecting Your Funds
The other advantage of back-end automation is that it lowers fees associated with cash. That, in turn, allows you to reinvest the money you would have spent on CIT and storage to your customer service efforts.
By automating your back-end, you can help your team focus on customer service. In the age of fintech, that’s the most surefire way to improve customer experience in banking.
If you’re wondering what automation solution will meet your bank branch’s needs, get in touch with the experts. They can help you find the perfect fit.
