NORTH CANTON, Ohio, Nov. 15 /PRNewswire-FirstCall/ -- There was a time when the financial industry feared the branch was a dying delivery channel, and that financial institution customers would turn exclusively to ATMs and online banking for all their financial needs. This would result in more distant consumers, making it more difficult to maintain their loyalty. But recent studies prove that's not the case - new bank branches continue to open and to flourish, and consumers still value their branch banking experience.
The way banks do business continues to evolve, and customer needs and expectations continue to be driven by technological progress. In the not-too- distant future, the branch we recognize from the last 25 years may go the way of carburetors and cassette tapes. Mass media, entertainment and communication have all been redefined by modern technology, as will the way consumers interact with their branch.
How will the evolution of technology affect the branch? Diebold is again exploring this question with its "Branch of the Future" concept at BAI's Retail Delivery 2006. An expansion and evolution of the concept branch of the future that was discussed at last year's Retail Delivery show, this project demonstrates concepts for future branch operations, with a focus on serving the specific needs of a broader range of customers, increased operational efficiencies, evolving terminal design and functionality and advancements in branch design.
Diebold's concept will demonstrate the company's thought leadership in branch transformation and banking channel interaction. The concept uses several developing technologies to showcase the interactions of a variety of consumer types with the bank branch of the future.
The concept will feature "welcome stations" where customers will use biometrics (among other technologies) to identify themselves and to indicate the transactions or activities they intend to undertake while at the branch. Depending on their input, the conceptual system will analyze their needs along with the current branch activity and workloads, and instruct the customers to proceed to one of several "fulfillment stations" in a manner and order that will be most efficient for them at that time. These fulfillment stations may be automated or human-assisted.
The biometric entry method will allow the branch's delivery channels to be tailored to offer goods and services that are relevant to each customer - particularly since their identity can be consistently and securely associated with their previous bank interactions on other channels. For example, those who enter the bank just to cash a check might be encouraged to open an account to save on fees based on the financial institution's realization that the particular customer has been paying per-check fees that account holders don't have to pay. Or perhaps customers who had previously requested pre-approval for a home equity loan via the online channel are courteously notified on their next visit to the branch that their pre-approval has been completed and they can finalize the loan while at the branch. In another scenario, high- value customers might be ushered to a private area to discuss their investment portfolios based on the financial institution's real-time knowledge of both their presence in the branch that day and their account status.
Technology will let financial institutions integrate their delivery channels, capitalizing on increased efficiencies while providing better- targeted sales and seamless messaging to the customer across branch, ATM and various online channels. This keeps customers efficiently served as they expect to be, while maximizing the bank's opportunities to offer them additional personalized products or services.
"Our concept branch demonstrates Diebold's leadership in branch futurism," said Chuck Ducey, Diebold's senior vice president of global development and services. "It's set just a few years into the future, and we're taking the best of what we know and adapting it into the most realistic, cost-effective and efficient solutions technology can provide."
Diebold's concept branch will allow financial institutions to preview the way future technology and innovation can keep them at the forefront of their business while reducing costs, generating increased revenue, increasing security, enhancing productivity and providing an exceptional customer experience.
Experience Diebold's concept branch at Diebold's booth #1005 at BAI's Retail Delivery 2006.
About Diebold
Diebold, Incorporated is a global leader in providing integrated self- service delivery and security systems and services. Diebold employs more than 14,000 associates with representation in nearly 90 countries worldwide and is headquartered in Canton, Ohio, USA. Diebold reported revenue of $2.6 billion in 2005 and is publicly traded on the New York Stock Exchange under the symbol "DBD." For more information, visit the company's Web site at http://www.diebold.com.
SOURCE: Diebold, Incorporated
CONTACT: Media Relations, Anna Istnick, +1-330-490-6661, or
istnica@diebold.com, or Investor Relations, Jennifer Bako, +1-330-490-6318, or
bakoj@diebold.com, both of Diebold, Incorporated
Web site: http://www.diebold.com |
