A recent article in American Banker, “the ‘Branch of the Future’ Will Still Be a Branch” discusses how banks are working to deliver a great Customer Experience at branch-level using new technologies to enhance face to face interactions. Adoption of new customer-centric technologies, such as in-branch Wi-Fi and Digital Signage are all used to create an environment where Customers can drop-in to do their work, as well as conduct transactions that they prefer to do face to face.
The following point may be surprising because so much energy has been devoted to “digital channel customer engagement” in the Retail Financial sector over recent years, but a study by McKinsey actually shows something that seems counter-intuitive, the more that customers use digital channels, the more they want human interaction.
Because of this shift in customer behavior, banks areworking to increase the value of those human interactions, for example by delivering “big data” driven applications that transform the function of branch staff by enabling them to make informed proactive recommendations to customers rather than passively responding to inquiries.
These advances mandate that branch-level connectivity is transformed from the 20th century capacity-constrained model to one that offers high-availability, high-bandwidth network connectivity at every branch. Carrier, or Metro Ethernet, is the model of choice for network operators to deliver this connectivity.
Connecting branches to this new infrastructure is seldom simple though; It takes coordination between multiple parties and may even require physical trenching to be dug between the branch and the local point of presence. Doing this at one location would be no small job, but managing this for a regional or nationwide portfolio is a massive undertaking.
We can help. At Concert, we collaborate with network carriers and local exchange carriers (LECs) every day to plan and manage the deployment of next-generation network infrastructure for Federal Government agencies and Fortune 1000 organizations alike. This gives us unique insights into how to plan and manage complex projects like this and deliver them on-time and on-budget.
Is your organization rolling out new technologies and applications to your branch network? If it is, give us a call – there’s a lot to talk about!