Retail banking is changing in unprecedented ways but the importance of the branch remains constant.
Consumers are able to accomplish much of their tasks through digital channels and they expect the same omni-channel experiences from banking as they do from retail. Branch networks are transforming to a customer centric focus. The previously static tellers who were confined behind counters are now able to enhance the consumer experience by providing advisory services and in person assistance. Eighty-seven percent of consumers still want to use a branch, and they expect human interaction when they go there. Indeed, a more convenient branch location was the second most common reason for consumer switching banks in 2017. It’s clear that branches are still a vital and integral part of the customer’s experience of the bank; however, the experience it provides must be transformed to meet new consumer expectations.
NCR’s Branch Transformation solutions helps banks future-proof their branches and build the consumer relationships that drive lasting brand loyalty. The branch lies at the heart of a connected consumer experience – it is digitally enabled, service oriented, and experience driven. Our branch solutions transform the consumer experience to enable them to bank how and when they want.
Blending physical and digital experiences removes the barriers of a single-channel consumer journey. Consumers can have a truly seamless and friction-free transaction that transcends the physical limitations of a branch. Self-assisted ATMs and virtual tellers empower branch staff to focus on great customer service and managing more complex transactions. Branch staff can enjoy greater, more meaningful customer relationships to drive sales and trust and build stronger engagement for long-term loyalty.
By taking the relationship model of the branch and making it accessible to consumers across whatever channel they choose, banks can offer consumers multiple choices and personalized options. NCR will help you drive consumer loyalty at a lower cost point and help sustain the future of branch banking.