Banking / Finance

10 branch banking innovation strategies for 2016

30th Nov `15, 06:00 PM in Banking / Finance

Non-banking industries like hospitality and travel are deploying futuristic technologies and processes to enhance their service experiences every…

BDMS
Guest Contributor
 

Non-banking industries like hospitality and travel are deploying futuristic technologies and processes to enhance their service experiences every day — conditioning consumers with higher face-to-face service expectations. When these other industries ‘raise the service bar’, it puts a spotlight on the service shortcomings of increasingly aging branch banking practices.

Innovative approaches to improve branch sales and productivity effectiveness have been implemented across a varied landscape of non-financial organizations as well. Unfortunately, most financial institutions stay in the herd when it comes to technology adoption and process improvement. With a whole world full of great ideas and best practices spread throughout other industries, it’s a series of missed opportunities that banking can’t ignore.

Ten strategies from non-banking industries that financial institutions can consider implementing to improve sales, service and productivity at the branch level include:

  • Beacon Technology
  • Facial Recognition Software
  • Heat Map Technology
  • 3D Augmented Reality
  • Business Process Management
  • Recommended Product Engines
  • Highly Trained Staff Deployment
  • Tabletop Tablet Solutions
  • Preferred Customer Programs
  • Appointment Setting Technology
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