Banks have to constantly rethink their strategies to match customer expectations, with 81% of customers managing their banking online. The modern customer demands complete convenience, including the ability to bank at any time of day. They also anticipate banks to provide lightning-fast assistance when transacting or requiring assistance.
Although customers may accomplish a lot of things online, there are still times when they need to go to a physical location. A face-to-face engagement is still required when opening a new account or get certain service assistance from banks.
So, how can banks transform their branches to create an in-person experience that carries the same advantages found in a physical branch?
Goodbye physical bank branch – Hello “AI Micro Branch”
As the name implies, AI Micro-Branches is a type of physical bank branch that requires a much smaller footprint than the typical branch that merges the online and offline banking experiences by bringing them both together.
This holistic transformation involving different aspects of the organization is required for success. AI Micro-Branch seamlessly interacts with the AI Engine and has Conversational avatars making the banking experience a highly immersive and smart customer experience.
AI Micro Branch uses smart analytics to improve the recommendations, they can free up bank personnel to focus on more complex tasks, have flexible work schedules, create a more efficient workflow, focus on cash transactions and deal with consumers who prefer human-to-human interactions.
While AI Mirco Branches can assist customers with cashless transactions, customers get the benefit of a personalized customer experience and assistance in Digital Product Discovery and get referred to products that are more suitable to them and enhance sales as it’s 24/7 availability provides them access to customers any time.
By serving personalized features such as customers’ preferred language, presenting the common customer transactions, and offering an Omnichannel experience, banks can increase Customer Loyalty, footfalls for the self-service channel thereby increasing reach and revenue.
Through AI Micro Branch’s latest digital signage solutions, banks can include high-definition video and graphics with built-in video analytics. Digital signage with vision capabilities can detect who is looking at the display and adjust the message accordingly.
This allows for personalized content based on audience demographics – for example, a younger customer may see a promotional interest rate on a home loan, while an older customer may see information about wealth management services. Content may be quickly updated throughout all AI Micro Branches, allowing for the widespread proliferation of fresh information.
If an unauthorized user tries to access an account, the AI in Micro Branch can detect the attempt, halt the transaction, and take photographs of the offender.
In AI Micro Branch, you can include any or all of the Customer-authentication Technologies that include –
Some of the Key Attributes of having an AI Micro Branch –
- Enabling mobility in banking services
- Unified platform to serve all customers
- Enhanced security with multi-factor authentication
- Support regional and global languages
- High scalability to keep up with ever-evolving technologies
Some of the Key Operations an AI Micro Branch can do –
Designing banking solutions that help banks deliver a consistent and empowering customer experience is pivotal. We believe as financial institutions look towards the future, self-service technology will play a critical role in their lasting success.
Some of the Key Benefits an AI Micro Branch –
A consistent customer experience is crucial to customer satisfaction, whether your customers visit AI Mirco Branches, speak to an agent, or use your bank app on their smartphone or computer.
Build Brand Loyalty through exceptional service and 24-hour access by delivering digital transformation solutions that allow customers to solve their own problems both in and out of the bank.
Although the number of bank branches is declining, the need for in-branch banking is not. AI Micro Branch is one of the solutions to bring branches into the digital age, connect with customers and enhance the banking experience.