How do you increase customer satisfaction and loyalty with new technology? What new technologies can you offer to gain new customers and increase current customer's loyalty?
Today's fast paced environment and desire for instant gratification through self-service models has led to the explosive growth of the digital channels, in particular mobile, and continued speculation that the growth of these channels might diminish the need for brick-and-mortar bank branches. In many countries we have seen financial institutions reduce the size of their branch network in favour of automated channels. Since 2010, year-over-year percentage change in number of branches at FDIC-insured institutions in the United States varied between -0.3% and -1.6%. Similar trends are being seen around the globe, including the United Kingdom, a market among the lowest branch densities, and continuing to shed branches at the rate of ~2% annually.
It is important to note that while the number of branches has declined, their overall importance has not. In fact, Aite Group believes with the right strategy and use of technology, the branch channel is more important than ever. The branch of the future includes bankers walking around with tablets, kiosks, and workstations for customer self?service and video banking. The ability to meet these new requirements and adhere to the more demanding expectations of clients and client experience are central to a FI's future success.
Remote Deposit Capture is quickly becoming a norm, with many consumers and businesses turning to RDC as a primary connection with their financial institution. Many banks are in the midst of transforming their branch model to one that is more efficient, often introducing a greater reliance on self-service technologies. Many institutions are planning to allocate branch teller expense to the Business Unit owning the "offending" accounts based on their in-branch activity. This new charge-back is creating a financial benefit to move these "offending customers" to remote deposit capture.
With bank transformation comes change, please join us to learn more about how these changes affect new banking and remote deposit capture technologies.
Key Learning Objectives
- Intelligent Capture as a key to FI digital transformation
- Why is intelligent capture necessary to improve customer satisfaction/loyalty?
- What is happening with the numbers and the formats of bank branches?
- What role does Remote Deposit Capture play, and how can customer centric projects be optimized from the start thanks to intelligent capture (e.g. in the UK)?
Research Director, Aite Group
Christine Barry serves as research director for Aite Group's Wholesale Banking and Payments practice, focusing on the strategies and technology implementations of global banks of all sizes.
Her recent research has addressed global cash management trends and technologies, capturing the valuable small-business customer, corporate portals, onboarding, user experience, the drivers of global core banking system replacement, and remote deposit capture.
She is a seasoned banking industry expert with more than 20 years of experience in financial services products and technologies. She has worked with a broad range of U.S. and international clients, analyzing industry trends and identifying market opportunities, product gaps, and potential partners to help them achieve their strategic IT goals.
Channel & Product Marketing Manager, Panini
Bart McMannon serves as Panini’s Channel and Product Marketing Manager and has over 20 years’ combined experience in Product Management, Marketing, and Development.
He has brought new products to market and has improved many products for various companies. After much market research, Bart is currently focused on expanding Panini’s product portfolio and increasing channel sales.
Christine Barry serves as research director for Aite Group's Wholesale Banking practice, focusing on the strategies and technology implementations of global banks of all sizes. Her recent research has addressed global cash management trends and technologies, capturing the valuable small-business customer, corporate mobile banking, the drivers of global core banking system replacement, remote deposit capture, and best practices for community banks and credit unions.