Pub. 4 2015 Issue 3

l e a d i n g a d v o c a t e f o r t h e b a n k i n g i n d u s t r y i n k a n s a s 18 TAKE THREE STEPS TO SERVICE- FOCUSED BRANCHES IN 2015 T ODAY, WHEN A CUSTOMER WALKS INTO a bank branch, they’re usually not there to deposit checks or make loan payments — those are tasks they can now accomplish from anywhere using mobile technologies. Rather, a branch visit these days entails solving an issue that needs a human decision: opening a new account or discussing such complex products as loans or financial planning. With that in mind, facilities must also evolve from transaction- oriented locations into customer-centric service centers. And building service-oriented branches requires a few specific areas of innovation that provide managers and frontline employees the tools they need to be most effective. The idea is that a bank’s technology should empower staff to see customers the way customers see themselves. And a recent industry study reveals that bank executives understand the importance of enhancing branch operations this year. In CSI’s Annual Banking Priorities Study, 44.6 percent of respondents identified branch optimization as a strategic focus for 2015. This strategy, in fact, is rated as the top focus area in the study, ranking ahead of other such important initiatives as EMV preparedness, mobile banking adoption and social media participation. Bank executives clearly see branch transformation key to success in 2015 and beyond, so the question becomes how to go about it. There are three primary areas through which banks can facilitate a more service-oriented branch: Customer-Centric Views First, institutions should implement tech systems that enable a customer-centric view rather than an account-centric view. Customers see one bank — they don’t recognize, or even care, whether the core system, Internet banking, loan servicing systems and mobile banking platforms are separate; they just want a seamless experience from one touch point to the next. Banks should use tools that can “journey map” customers to gain a complete picture of their experience across all interactions. Banks also should record and monitor customer data to help them optimize the entire customer experience, rather than focusing on isolated touch points. To gain insight, they must study both structured data, like transaction data, as well as such unstructured data as call logs. Strengthening Customer Relationships Next comes the need for systems that can automate customer engagement for frontline employees. Powerful CRM programs can collect customer data from a variety of places and provide information to employees on profitability, recommended products, transaction and account history and customer service interactions. By TimKopischke, Director of Software Engineering - CSI