With the increase in technology comes a transformation in the way customers approach banking. Even though customers are increasing their use of mobile and self-service options, they still depend on their branch office to provide a variety of services. The way banks deliver these personal services, however, is adapting. To remain viable, banks must develop a transformation strategy that offers a streamlined process through automation, yet preserves the customer’s personal interactions with the teller.
The need for a simpler, more efficient experience is causing institutions to examine their methods to remain competitive. According to an article from Independent Banker, “A comprehensive branch transformation strategy requires that three main components—people, processes and technology—are all in alignment.”
As banks continue to process cash and checks at a high rate, implementing automated systems, such as automatic deposits, remote deposit capture, and self-service coin counting machines, will save time and money, and reduce errors. It is imperative, however, that banks choose a reliable and trustworthy technology source to provide the automated programs.