Branches are costliest assets for any bank. The costs involve real state, staff, facility management, IT, security and systems and so on. There was a time when almost all banking happened through these branches. Now with a-changin’ times, banking also happens through internet, mobiles, tablets, ATMs on and call-centers. This has led to a classic dilemma for banks. If they open new branches, the low returns from these may hit the balance sheet but if they don’t open new branches, their presence in the region may suffer, for the branches provide the all-important human face time to customers
This dilemma is further aggravated by the problem of whether to attract customers to the branches or not? If there are more customers in the bank without the proportionate increase in revenue from these footfalls, it simply adds to the cost of running the branches. On the other hand, the empty branches will weigh heavily on the balance sheet. Can’t-do-with, can’t do without.
The key to resolve this dilemma lies in following 5 steps:
1. Integrate the branches with other banking channels
2. Attract the right footfalls
3. Predict the needs of these footfalls and map them with the correct expert in the branch
4. Improve relationship by reducing the wait time and using the wait time to engage the customer
5. Utilize the teller time towards consulting rather than transactions
It is towards these goals that CustomerXPs launched Clari5 Paperless Branch Banking software at recently concluded Finovate Asia 2013 at Singapore. It is a step towards not only paperless banking but also converting branch banking into a revenue generation engine for banks.
We discussed with lot of bankers at the event who felt that this software fills in a huge gap in branch banking space.
Congratulations to our product team for delivering Clari5 Paperless Branch Banking.
By Ratnesh Pandey
Ratnesh is Head of Marketing at CustomerXPs. He can be reached at firstname.lastname@example.org
CustomerXPs offers real-time, intelligent products that empower banks with instant insights enabling influenced outcomes of deeper customer engagement and fraud-free transactions.