What is Branch Transformation?
ARCA describes branch transformation as refining and redesigning the branch to better anticipate customer needs. Branch transformation merges technology and the banking retail space to transform a branch into a more consumer conscious environment. Banks and credit unions should be accessing branch transformation options to evaluate the success of bank layout. Even if there are small changes that can be made, branch transformation guides financial institutions into efficient and engaging atmospheres. There are two major aspects of branch transformation: hardware and software. Gaining a deeper understanding of these two elements will reveal the absolute benefits of your bank or credit union implementing branch transformation.
Transforming Branch Hardware
Typically branch transformation involves restructuring the inside of the branch but ultimately its about creating strategic locations for optimal customer satisfaction and efficiency. However, embarking on a huge renovation may not be the best option for your bank or credit union. Small shifts are the true way to maximize ROI from your branch transformation. Starting with an overlooked area: the teller desk space. Teller desk space can be cluttered with check scanners, teller printers, card and ID scanners, and even document scanners. To boost efficiency, teller areas should be organized and tidy. Stackable financial hardware options are an incredible asset when transforming a teller space. Check scanners and teller printers have stackable options that help tellers navigate transactions with more ease. Small changes like reorganizing teller desk space can make a huge impact, and branch transformation can level up your business with cutting-edge technology options.
Transforming Branch Technology
Branch transformation requires a deep analysis of the use of technology in your branch. This analysis can involve investigating new technology to support new branch efforts. One powerful change that branch transformation can bring is cash automation. Cash automation can be implemented into your branches easily with a positive impact on operational flow and can boost financial device ROI if paired with the right middleware application. Cash automation does not work without a cash recycler, and even further cash automation does not work if your teller has issues with navigating the cash recycler. Implementing new technology as a part of branch transformation is essential, but that tech should be user-friendly. CashWare is a middleware application that makes cash recyclers easy to use. Prioritizing customer satisfaction with a combination of emerging technology like cash recyclers and CashWare, branch transformation ultimately benefits customers, tellers and your branch overall.