Customer-Focused Banking Services with Video Banking
Customer-focused banking services provide your customers with better emotional connections and take them step by step through all of the things you need to do for their video banking experience, product questions, advice, and transactions. This gives you the competitive advantage to leapfrog direct banks that highlight virtual services for their digital customers.
Most banks have spent the last few years reinventing their Servicing branch experience to be open, create more face-to-face interactions, social hangouts, and coffee bars. Those plans changed quickly overnight when the pandemic hit. So what do the branches’ roles play in the future? Post temporary reopening plans, construction to put up shields to keep employees and consumers safe, is a hybrid model in store for the future? Does this escalate branch closures?
We are not in the era of the ‘death of the branch’ but real estate does not play the importance it did several years ago. Without a customer strategy that incorporates a hybrid model of both physical and digital interactions, financial institutions will be on a customer churn hamster wheel… The future of banking is digital. It’s been headed that way for years, however, the pandemic put this in overnight overdrive
To compete with direct banks, most financial institutions initially place a higher emphasis on acquisition components. They look to reinvent how they acquire customers with a high-touch personalized digital experience that gives them a competitive advantage. However, there is just as much revenue opportunity in servicing, connecting with customers more frequently, digitally to increase wallet share and retention.
How Can Customer-Focused Banking Services Work With Video Banking When Somebody Comes Into The Branch?
A customer is more likely to complete a transaction or sign up for a service if there are no long wait times for customer service. If you walk into the branch, and you want to talk to a business banker, that branch may not have a person available — instead of sending them away to schedule an appointment or having a bad experience with a long wait time, a teller can utilize a Video Banking cubbie and connect you to a business banker at another branch.
Instantly close more business, provide a better member/customer experience while gaining staffing efficiencies across locations. With more micro branches and reduced staffing, it’s critical to provide instant access to the right resources at the right time, whether the customer walks into a branch location or is sitting at home.
The podcast “Managing a Digital Customer Experience in Banking” — with guest speaker Alex Jimenez the Chief Strategy Officer at Extractable — talks more about customer experience in banking and best practices for digital-first interactions.
A digital banking lobby, allows you to create branch-like experiences, anywhere and everywhere, with an average 300% ROI. Improve your customer-focused banking services without compromising face-to-face interaction. Learn why video customer service banking is the channel of choice for BOTH financial institutions and their customers across all demographics to connect by watching an on-demand demo today.