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Whether a retail bank, wealth management firm, credit union, or insurance company with a banking segment, the financial industry is facing dramatic changes on how best to accommodate customers, and what is the appropriate mix between brick-and-mortar bank branches, remote work, self-service ATMs, and digital platforms.
Since my coverage areas include branch and ATM channel technologies, I often get asked, “What distinguishes successful branch channel transformation initiatives?” Most banks appear to associate branch channel transformation with radical changes in the branch operating model. Fair enough. Here goes: 1.
Interactive video ATMs draw attention as an alternative retail delivery option. ATMs with video connections to bank staff in a centralized back office have been getting a lot of buzz within the industry. Tellers at PCSB Bank’s central office can perform most tasks that on-site branch tellers can, Johnson says.
The societal benefit of financing our communities has to beat sugar water, right? can make analog more valuable if we drive community interest in branch facilities to learn from one another instead of another investments seminar-lecture. Remember that BAI Retail Delivery initially started out as an ATM conference.
In an attempt to build banking and financial services products for literally everyone, Bank of America is experimenting with a fully automated branchdesign. For those who prefer their dealings with the outside world be as human-free as possible, there are now three BoA branches in the U.S.
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