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Customer Experience In Banking

5 Strategies To Improve Customer Experience In Banking

It’s not your grandparents’ bank anymore.

The days when carrying out a transaction in your account meant taking a walk to your local branch and having a chat with a teller are long over.

Market competition and customer expectations require innovation and adjustments to how you service your customers.

Below are 5 strategies that will help you improve customer experience in banking.

1. Better, not more…customer self-service

The modern consumer is increasingly self-reliant. They don’t want to call you for support. They don’t want to ask you for information.

They want to be able to gather information and perform their transactions on their own – that’s what they are used to in Amazon, Alibaba, and numerous other online commerce. That is the standard your customers expect to get – and when they don’t what do you get? That’s right, disappointed customers.

But we have a website!

Yes, of course you do. No bank today doesn’t, but the real question to ask is: does your bank have a great website? Does it provide readily accessible, navigable and engaging self-service support and how-to answers? Or does the bewildered customer end up wasting his time and being shuttled down a path to call?

If you want your customers to invest in your establishment, it’s time to start investing in your online customer interface.

How to implement?

Ensure that your website offers your customers an easy way to carry out the following top five activities:

  1. View account balance
  2. PIN activation and replacement
  3. Money transfers
  4. Loan applications
  5. Search for a local branch

Providing accessible answers to these basic question will improve consumer satisfaction levels and retention and increase conversion – especially given that customer service departments are rarely active and fully staffed 24/7.

2. Make secured tablet stands part of your core branch experience

Calling a service department and then being put on hold is not going to leave millenials with a favorable impression of a business – any business. Still, being required to physically enter the branch and stand in line until they can be served is enough to drive millennials up the wall….

Like, this is the 21st century! Maybe in the 1950s people had more time on their hands took waiting in line for granted, even viewing it as a chance to shoot the breeze, but that time is long gone.

Still, sometimes visiting the branch is necessary, and placing tablets enclosures is a good way to ensure your customers will both enjoy their experience and feel their investment of time was more efficient.

Placing tablets have different application on improving customer experience in banking.

How to implement?

Online banking

Integrating tablet kiosks with bank software to facilitate internet banking with quick access to account information, services and tools, can reduce the burden on your employees while providing faster service to the clients.

But it isn’t just about reducing the burden on your employees- tablet kiosks can also be integrated with fingerprint scanners, increasing security of transactions and of course tablet based transactions do not generate reams of error-prone paperwork.

Entertainment

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iPad kiosks are not all about work – they can be used to provide entertainment to your customers (or their children) while they wait to be taken care of by your staff – as the case of MacDonald illustrates.

Just imagine an interactive game that can teach kids about money! Educational games are a nice way to pass the time while you wait with your kids or sit with your banker.

Marketing and Branding

Tablet stands are a great way to display the latest news, marketing offers, and interesting information related to your branch and bank.

Flooding your customer’s email accounts won’t work anymore- adblockers are the new standard. Tablet stands are a way to bypass this and get at your “captive audience” while they are waiting at your branch.

Feedback

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If you want to improve customer experience, you need to know what to improve.

If you aren’t constantly asking your customers what they want and think that needs to be improved – you are simply guessing.

Providing accessible, user friendly feedback stations is the best and more reliable way of ensuring you receive a steady stream of valuable information which will help you improve customer experience.  

Summary

Banking is changing and this is an exciting era. We all can see technology adoption and better customer experience.

We at Compulocks provide a wide range of secure display solutions which you can use exactly for all the ideas stated above – feedback, marketing, entertainment and more.

It doesn’t matter which tablet you are using, and where you want to securely place it – wall mounted, as a floor stand or even on table, we have the solutions.

Learn more about our solutions here and how can they improve your customers’ experience.

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