Today almost all branch transactions in Western Europe are performed using self-service machines. While the U.S. is behind the technology curve, banks and credit unions are slowly shifting to more self-service technology. But at what cost to consumer relationships and revenue?
The guide, Five Ways to Maximize Your Self-Service Investment, provides five tips that can help credit unions capitalize on the growing self-service trend and avoid its pitfalls:
- Self-service technology doesn’t eliminate the need for human interaction—a rule taken from the airlines’ playbook.
- Make sure self-service technology works at your branch—why a branch with strong traffic must have the potential to move 30 to 40 percent of transactions to self-service.
- Have a plan that includes employee training, marketing and possibly an entire branch redesign.
- Re-evaluate your entire delivery strategy – why this should be just part of an overall retail transformation.
- Ensure self-service provides a clear benefit to members – why self-service must be quick and easy for them.