Enticed by the abundance of vowels and motivated by a spirited delight in facilitating personalised and human visitor experiences, Hakim is a digital content strategist at Wavetec. She specialises in the articulation of queue management and self-service solutions, edifying them to wider networks of businesses.
In This Blog:
- Is the bank branch still relevant?
- What queue management solutions work best for banks?
Why is the bank branch still useful?
In this age of swiftly increasing digitization, mobile and online banking have carved out significant parts of the customer base for themselves. But somehow, despite their advances the bank branch remains alive and well. Dare to guess?
The bank branch is an unmistakable asset to banks as it allows for face-to-face interaction with the client, creating a vital touchpoint in their journey. Deloitte found that people prefer to open major accounts like savings and mortgages in person! People also choose to visit the bank branch to deposit cash or cheques, open an account, apply for a loan, register for a locker, apply for a new cheque book, etc.
Additionally, bank branches allow for brand recognition, customer loyalty building and retention, and cross- and up-selling opportunities. They are a marketers delight, a banker’s base of operations and a customer’s peace of mind when managed properly!
For more information about the future of banking in Africa, read our blog.
What kind of service do customers want when they visit a branch?
Customers want to feel valued. They want to see that their bank cares enough to ensure:
- Face-to-face interaction
- Contactless self service opportunities
- Streamlined customer journey flows
- Short wait times
- Engaging and informative digital signage
- Feedback registration opportunities
- High levels of customer satisfaction and service delivery
How does Queue Management help bank branches?
The offerings of banks and financial institutions are becoming increasingly homogenous, and so customer care standards are becoming increasingly important as competitive distinguishers.
Long queues, lack of informational transparency and poor in-branch service quality are assured ways to lose customers. To help with alleviating these concerns, a queue management provider can be consulted.
After viewing a demonstration, scrutinizing the specifications and consulting with your team, you deploy a holistic system and observe it on a pilot basis for a few months. The result?
Benefits of Queue Management for banking clients
- Be assigned to a customer representative skilled in the area you require help in, or according to the time your task will likely take - either way assuring that the queue continues to move and swiftly
- More self service opportunities
- Shorter wait times
- More engaged and informed waits
- Convenience of booking and checking in
- Remote queuing opportunities
- Faster service - better personal time management
- Facilitate both digital and non-digital clients
- Personalized care and service delivery
- Omni-channel banking experience
Benefits of Queue Management for bank management
- Faster queues
- Less overcrowding on-premises
- Smoother customer journey flows
- Be aware of peak foot traffic times so as to be able to allocate staff assignments accordingly
- Increase staff productivity and operational efficiency
- Improved statistical reporting and dashboards
- Reduced walk aways with timely updates
- Better and higher Return-On-Investment (ROI)
- Easy installation, swift onboarding
- Scalable and standalone
- GDPR compliant and ISO certified
Best suited Queue Management solutions for bank branches
The bank branch can be outfitted with a whole variety of visitor management solutions, but a few stand out. Following are the solutions, their uses, benefits and features.
Online Appointment Scheduling software
Appointment scheduling is an online and virtual, socially distanced solution that allows 24/7 bookings, rescheduling and cancellations on-the-go. It allows users to pick between branches, services, methods of meeting and time slots and days. It facilitates multiple languages, customizations and integrations with existing systems.
Once the user has booked an appointment via mobile application, website, SMS or email, they will receive regular notifications and reminders alerting them to the proximity and requirements of their booking.
This solution helps customers prepare in advance and arrive on-premise on time so as to avoid queues or long waits. And management has a better estimate of the footfall of that day, and can prepare and allocate staff more effectively. Staff can also prepare for the meeting in advance, and decide the relevant products and services to discuss as marketing opportunities.
This software can be used for all kinds of clients, with special customizations for VIP categorization.
For more information on how appointment scheduling can optimize your branch operations, read our blog.
Whether you are an appointment holder or walk-in, WhatsApp Queuing is the simplest and most accessible way to secure a virtual place in the queue. This solution allows you to wait remotely.
Accessed through a QR code, number or link, customers will find themselves in a WhatsApp chat with the bank. They will be asked to describe the nature of their visit and what service they choose to avail of. They will then be issued a paperless and digital ticket and begin receiving regular notifications about queue statistics, like estimated wait times and queue position.
Customers have the free will to wait wherever they please. This can be their car, the park nearby, another store, or while running an errand, etc. With such flexibility, customers are less likely to feel frustrated or undervalued. They also experience immense convenience as WhatsApp can be used to onboard digital and on-digital clients.
Bank management can use this solution to reduce occupancy numbers, clear crowds, better utilize floor space, and collect data on traffic, service popularity, peak hours, etc.
This software supports all kinds of clients, be they new or existing. And due to WhatsApp’s encrypted message feature, this is a secure and safe way to communicate with your bank.
For more information on the impacts of WhatsApp Queuing, read our blog.
Self service kiosks
Customers love a good contactless solution in times like these! Self service kiosks afford customers with the opportunity to complete vital and urgent financial transactions on-the-go, 24/7 and securely. These are holistic and convenient alternatives to human service representatives.
A customer arrives on-premises looking to deposit a check and withdraw some money. He approaches the kiosk marked cheque deposit and follows the displayed instructions. He then selects the withdraw money option, withdraws his preferred amount and after receiving his receipt, is on his way.
The customer has completed the tasks without contact, assistance or difficulty. They have not had to wait in line or visit during set office hours. For management, this reduces operational costs and increases revenues as machines can operate well past opening hours.
This software supports all clients, high amounts, different denominations, a variety of services, KYC and security biometric tests, and customizations.
Is self service changing consumer behaviors? Read to find out more.
Customers usually have something to say after they have been served, be it negative or positive. They have had an experience and would like to provide feedback on it. And bank management will benefit greatly from the collection and analysis of this information.
After being served, the customer is asked to register their feedback via SMS, text messaging, website, mobile application or physical in-store screen. This will then be collected, stored and analyzed so that conclusions may be drawn as to what needs improvement and what needs continuity.
This allows customers to feel valued by the business thereby boosting loyalty and retention, while the business is given a golden opportunity of a third person perspective.
This solution is ideal for all clients and all service providers, be they digitally or physically present.
No queue management system is complete without a seamless and quality business intelligence enterprise solution. At Wavetec, we trust Spectra reporting and dashboards to provide us with data collection, sorting, analysis and reporting capabilities.
Spectra is customizable, scalable, accurate, equipped with real-time notifications and alerts. It allows for multiple dashboards, displaying employee, branch and device productivity and performance. It facilitates centralized control and monitoring of the branch and helps identify areas in need of improvement or amendment.
Spectra usage informs clients that their needs and business is being taken seriously, and affords management with complete control over operations and their performance.
Read to find out what 3 dashboards your bank needs now.