Boosting Customer Experience Within Retail Banking

Customer service and customer experience (CX) are as important in the banking industry as anywhere else. Even with automation and digitization taking over so many services, local branches are still an important aspect of that.

And with the increasing presence of online-only banking services there’s even more pressure for bank and credit unions to ensure that their customer experience is top-notch.

One of the tools that banks and credit unions who see the writing on the wall use is digital signage. At this point, their convenience and ease of use is becoming an all-out necessity. But how exactly can they be used to boost overall customer experience? Here are some great examples.   

Providing Important Information to Customers

Large signage in retail banking showing useful information like foreign exchange rates and stock market indices alongside the branch’s specialist products can lead to a much more fulfilling customer experience. Take this example from Mountain America Credit Union, featured by Samsung Insights, who use the power of a video wall to grab customer’s attention and tell them about their services.

Managing Lines and Wait Times

In days gone by, we would stand in long queues at banks and credit unions waiting what feels like a lifetime. However, thanks to digital signage, locations can combat the frustration that customers face when this happens. It’s also been found that by using a queue management system, customers get seen more quickly.

Rather than standing around waiting, they are free to focus on other things until it’s their time to head to the cashier. This in turn reduces perceived wait times. And, by showing estimated wait times, the customer feels like their time is being valued.

Many American banks and credit unions in larger cities have communal areas where you can grab a coffee and even catch up on some work. There are couches and even desks with charging ports. A visit to the bank no longer has to be so time-consuming and tiresome since customers are now able to multi-task while they’re waiting to be seen.   

Building Brand Awareness and a Stronger Sense of Community

Thanks to digital signage, banks and credit unions can tell stories in an easy to digest manner and they can be updated quickly and easily, even by tellers who don’t have much tech experience. Let’s say that a bank offers small business loans; a great way to advertise this would be to tell the story of a member of the local community who took advantage of that.

Localization like this will resonate much better with customers enhancing their overall experience. It may also bring in new customers too.

Building Trust with Clients

Want your customers to get to know your staff more? Digital signs can help with that. Digital signage is said to promote trust between banks and clients in 87% of experiences. It also provides a sense of credibility.

By having digital signage in prominent areas showing information on some of the staff members working in the branch on that particular day, you’re already personally introducing your customers to staff members and developing an initial rapport. Teaming this up with snapshots of their credentials means customers are at ease knowing their finances are in qualified and experienced hands.

As we head into the future, digital signage will only develop further and be integrated more seamlessly with our own technology. Adoption of this technology signifies a willingness to provide the best and most advanced services to your clients.