Are ATMs headed the way of the payphone?
Are ATMs edging towards extinction? Probably not just yet, but with digital alternatives becoming ever more popular and cash usage declining it may just be a matter of time before the equipment ceases to be cost-effective for banks to maintain. Shared ATMs, and outsourced servicing to specialized players are likely to become more common.
3 Retail Banking Trends the Industry Still Isn’t Getting Right
With many companies having limited resources to devote to digital transformation initiatives, it’s important to choose your projects wisely. Be sure to create success metrics before you start and monitor the results as you move forward.
The article also highlights the importance of improving employee digital skills and effectively supporting remote workers. Finally, customer onboarding is a process that needs to be handled extremely well or abandonment rates will skyrocket.
What Needs to Change to Fix Banking’s Totally Busted Sales Model
Are your sales team ‘order takers’, ‘product pushers’, or ‘needs assessors’? Taking the time to understand customer needs and then offering relevant solutions is the only reliable way to build customer loyalty and engagement.
Here Are 8 Inspired Ideas from Other Industries that Banks Should Use Too
Banking is a unique, specialized industry. But useful ideas can be gleaned by studying companies that excel in other industries.
Four ways European banks help customers reach their goals
Enhanced digital experiences, shared physical branches and ATMs, and personal banking advisors are some of the ways that European banks are trying to minimize costs while providing superior customer experiences.
Five Banking Customer Experience Trends for 2022
Enhancing service offerings for both customers and your employees who support them will yield big dividends. Digital appointment scheduling, video chat, and better financial management tools can simplify customers’ lives. Virtual Reality (VR) and Augment Reality (AR) can help with staff training. And focusing on specific market niches or customer segments can help you achieve efficiencies and better differentiate yourself from competitors.
Mobile Messaging – A Key Banking Communication Tool
Online chat is popular – particularly with younger customers. But mobile messaging may be even better. Consider this: customers contacting you through this channel are already authenticated via the app. It supports asynchronous communication, so neither party has to ‘stay on the line’. It provides a searchable record of past conversations. And your service personnel can support many more clients at the same time.
