We’ve all heard it… Bank branches are coming to an end. Despite what some may think, study after study has proven this notion is simply not true. Although branch traffic may be declining, the presence of branches is still vital to the process of acquiring new customers. In a recent study by CFI Group, the number one reason consumers cited for choosing their current financial services provider was convenience in branch location. That being said, Financial Institutions (FIs) must recognize the importance of having a strong, well-run branch presence. Though customers may not visit brick-and-mortar locations as much as they have in the past, due to the rise of web-based and digitally-enhanced banking, the experience they have when they do visit is crucial to ensuring satisfaction and loyalty. The perplexing question remains… How do FIs keep current customers engaged, while attracting new (and younger) customers? The answer… Branch Transformation. Branch transformation is more than a simple adjustment to the look and feel of your branches. It’s all about discovering how your institution is different from the one across the street, and leveraging these differences to better serve your clients through your products and solutions. Branch transformation is a long-term commitment that involves not only a physical makeover, but a behind the scenes technology transformation as well. It may sound complicated, but in order to remain competitive in your market, branch transformation is essential for long-term success. NuSource has the tools to help you through the branch transformation process.
Did you know?
Branch transaction volume has decreased by 45% since 1992 while labor costs per transaction have risen by 123%. Branches of the future will be different -– smaller, less focused on simple transactions and more focused on sales.
The emerging class of digitally-savvy bank customers is altering the way we look at conventional banking. These customers desire bank branches that offer sophisticated financial advice, innovative support and products, and easy access to the self-service channel. Over the next five years, financial institutions expect 25% of branch transactions to migrate towards self-directed technologies. Click here to see Hyosung Branch Transformation Solutions in live action! What are you doing to keep pace?
Check Imaging ATM Deposit Automation
- Provides a high-quality deposit transaction to consumers and small merchants
- Offers bank customers more choice, improved availability and added convenience
- Eliminates the need for envelopes at the ATM
- Increases deposit accuracy and minimizes fraud
- Restores customer confidence in the banking experience
- Reduces transaction processing costs
Hyosung Branch Transformation – A Refined Customer Experience
- An Omni-Channel Approach built on providing an assisted self-service branch solution that is: Compatible with current infrastructure, Scalable, and Flexible
- Offers mixed transaction support between ATM, Core, CRM and Payment Systems
- Provides Teller Transaction Options: Teller Tablet, Rear of Terminal, Teller Terminal, and Video Teller
- Delivers assisted personal service at a lower processing cost with added customer convenience
- Provides faster transacting using fewer resources than conventional or video teller solutions
- Services more customers in new ways by eliminating manual redundant processes, resulting in increased revenue generation in an Omni-Channel environment
Coin Automation: Self-Service Coin
- Reduces operating costs with less staff intervention
- Improves customer experience and convenience through self-service technology
- Flexible operational coin capture options: bags or bins
Cash Automation: Teller Cash Recyclers
- Automates the acceptance, authentication and validation of bank notes
- Reduces cash deposit transaction times by up to 50%
- Cuts cash dispense transaction times by up to 40%
- Reduces the time taken for start and end-of-day cash balancing by an average of 20 minutes
- Reduces wait times by up to 50%
- Improves the opportunity for customer interaction
- Improves branch security by reducing cash exposure in your branch