high-touch vs. high-tech

High-Touch vs. High-Tech: Where Does In-Branch Banking End and Remote Banking Begin?

Don't Ignore the Hybrid Consumer

Consumer behavior is changing and so is the way we interact with our financial institutions. Traditional banks and credit unions are seeing increased competition in the form of neobanks and digital-only players who offer online and mobile solutions for everyday banking. Despite the large shift towards self-service, account holders often still seek face-to-face interactions for more complex banking needs and advice. 

For many, the blending of remote and in-branch banking is becoming one in the same, where cross-channel, or omni-channel banking, is a must to ensure users are engaged throughout their user journeys and customer lifecycles. To strike the perfect balance of high-tech high-touch, and to meet the needs of today’s hybrid consumer, financial institutions must effectively implement a strategy that combines the human element of an employee with the flexibility and convenience of self-service technology. 

So where does a bank or credit union begin? Start by evaluating your technology footprint and interoperability. As new technology was introduced over the last decade, many implemented multiple solutions to address a variety of deposit channels, each with their own siloed UX – and lack of data reporting or visibility.  As those solutions age, banks and credit unions must look for ways to decrease maintenance and support costs for these disparate systems, as well as ways to share business intelligence across the enterprise. Investing in solutions that deliver consistent and familiar user experiences across all channels, as well as those that also enable a more streamlined and efficient banking ecosystem internally, provide better services and support for your account holders.

We know customers and members want to bank at their convenience, but they also expect the same level of service through remote channels as they do in the branch. Capturing that 'big picture' view of user behavior data, trends, and other influences that affect the user journey and solution adoption are critical to delivering on this point. And, paying close attention to the UX across all points of engagement will generate a significant return linked to institutional loyalty. Through personalization and targeted marketing campaigns that leverage these data insights, an omni-channel experience with consistent and meaningful messages, presented at the appropriate time in the user journey, will drive engagement. 

By adopting an omni-channel strategy to meet market demands of a hybrid banking approach, financial institutions deliver on the demand for self-service, while understanding the physical branch still plays a critical role in day-to-day operations. The key to success is finding that blended balance to keep users engaged – providing them with real-time offers, alerts and education based on their personal financial stories, both on a digital device or at the teller counter. 

Your customers and members are looking for more than capabilities that simply “get the job done,” but a seamless banking experience with the same level of personalization and service, regardless of where they transact. 

Alogent’s suite of solutions delivers a single and consistent user experience across all channels, bringing a cross-channel banking strategy to light, while enabling an enterprise view into business intelligence for better efficiencies, faster decisions, and more personalized engagement: from human-touch to touch-screen. Our product team understands that no two financial institutions are the same, and their consultative approach will help meet the unique and diverse needs of both your institution and account holders, alike.

Learn more. Schedule a discovery call and demo with Alogent’s team of product experts.

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