For most financial institutions, every dollar spent to improve operations is well considered. With increased pressure on the bottom line and so many options on the table, banks and credit unions must ask which investments are most likely to produce sufficient returns.

Branch automation is an expanding option under consideration by financial institutions nationwide, whether it be consumer-facing ATMs and ITMs, teller-facing cash recyclers, or both. There is a growing amount of research substantiating the value these technologies deliver to the industry at large, but each institution has its own unique needs that can derive specific optimal returns.

Consider the following factors when selecting branch automation solutions to ensure positive return on investment.

Is automation freeing up tellers' time?

Nearly 80% of customers seek face-to-face services for more advanced banking needs. Having automation in place to better manage simple transactions can free up time to better meet high-level requirements. As a result, the relationship and trust between banker and consumer will deepen.

Are customers fully engaged?

Full-fledged account holder engagement is best established by addressing consumer preferences with high-quality solutions. Those preferences have shifted in response to increasing digital adoption, but the in-branch experience remains critical to consumers’ overall engagement with their financial institution. Automation supports the branch’s ability to optimize this channel experience, boosting engagement by 57%.

Do staff members support the automation era?

It is critical that bank or credit union employees view automation as an opportunity and not a threat to their positions. The intended purpose of automation is to make their jobs easier and facilitate a high-touch experience for consumers. By positioning automation as something that helps employees do their jobs more efficiently, institutions can help change-resistant employees better embrace uncharted territory.

Are workers proficient in advanced technologies?

State-of-the-art equipment requires a learning curve, particularly if staff are familiar and comfortable with certain processes. Ongoing partner support can help workers become better acquainted with automation, enhancing productivity and facilitating the branch’s ability to get up to speed quicker.

Is the institution invested in the long-term?

Automation solves short-term inefficiencies that can lead to long-term results, even if there is a learning curve in the start-up phase. The intended outcome is to future-proof operations and deliver meaningful results to the bottom line.

Embrace the future of banking with Convergint

Automation helps make branches more consumer-centric and performance-focused. The advanced automation solutions from Convergint ensures optimal results for financial institutions, delivering an unparalleled return on investment. Contact a Convergint financial vertical expert to learn more.

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