Branch Transformation is all the rage these days. But it’s a long and complex path. True transformation goes far beneath the surface to provide a new and revolutionary client experience. A white paper by Solidus, Inc identifies five key elements to a successful transformation. Although each branch must be customized to be most effective, several pieces of equipment stand out in their commonality to success:
- Interactive Teller Machines / ITM’s
- Branding Displays and Digital Signage
The teller is still the public face of your branch. The most popular Branch Transformation models replace the teller line with “pods” or “dialogue towers” staffed by Universal Bankers. In these more-open concepts, staff move around, physically greet customers, and foster a closer sense of engagement. Gone are the days when a massive teller line had to create the sense of security for clients’ money. This concept would be impossible without the Cash Recycler.
As we discussed in our blog series on TCR’s, having a recycler powering each new “pod” creates immense flexibility for your staff. Tellers talk more deeply with and pay more attention to clients – leading to greater cross-sell possibilities, and allowing Universal Bankers to move with the client into a private room for matters requiring more privacy or detail.
Interactive Teller Machines / ITM’s
ATMs have come a long way from tiny green screens with burned-in text and four buttons. Deposit imaging is a common feature which many customers have grown to expect from their financial institution. The next step in branch self-service is the Personal Teller Machine or Interactive Teller Machine (PTM’s/ITM’s).) This platform may allow the client to conduct transactions without a card, or with a video interface to a teller. An expanded transaction set offers convenience for the tech-savvy customer. In some cases, almost any task they could do with online or mobile banking as well as ATM functions can be done with a PTM/ITM.
These devices require a larger investment and need a solid business case before deploying. Successful projects have allowed a financial institution to expand banking hours, or to expand into new markets without the expense of a full branch by taking advantage of existing real estate (commercial loan centers) to grow a deposit base. In some cases, the ITM can replace pneumatic tube systems in the drive-through.
Branding & Digital Signage
Branding elements are being incorporated into every aspect of institutions’ appearance these days. New teller pods contain subtle branding elements on the customer side. (And we don’t mean plastering your logo on every flat surface, either.) As part of new branding efforts, many branches include digital signage in their remodels. Many local banks and credit unions are fostering community connection by featuring notable landmarks and local events rotating through their digital signage or graphic walls.
Valuetec has extensive experience consulting financial institutions on the equipment aspect of remodels and transformations. We work closely with architects and general contractors to handle all your equipment purchase and installation arrangement. Email or call Sandy for help with your project.
Want to learn more info about Cash Recyclers? Read our blog series or call us if you would like a quote.