Whitepaper: How Physical Branches Can Thrive in a Digital Worldby Vivalociti
Throughout their history, credit unions and community banks have excelled in providing personalized, relationship-based services within their local brick and mortar locations. As society has adopted a digital economy, these same financial institutions have continued to meet the customer where they are by providing online, web-based banking services. In adding in these technology based channels, these financial institutions have, in some cases, inadvertently lost some of that personal touch. As the industry continues to evolve and outside forces begin to put pressure on these financial institutions, it is critical that they find a way to re-engage the customer at a personal level while still providing the convenience of online channels.
Integrating technology into a branch is a process that requires research, data, and planning. By leveraging technology in a purposeful and personalized way, credit unions and banks can create smart, customized interactions that resonate with their diverse customer base. Understanding the specific needs and preferences of different age groups, locations, and income levels through research and customer feedback is crucial in making informed investment decisions.
So, what is the right kind of in-branch technology to focus on?
And how do you gain leadership and board approval for the investment?
There is no cookie-cutter, one-size-fits-all approach to technology integration, so it’s important to leverage community and demographic insights to determine what your customers care about and use available technology to help you connect with them. We have prepared a whitepaper to better explain the how and why integrated technology elevates your physical branch's footprint.