The CEO of a giant Spanish bank recently was quoted as stating that branches give traditional financial institutions an edge over big consumer tech companies such as Apple, Facebook, Google and Amazon. Banco Santander plans to continue to invest in their retail presence while simultaneously setting a target of moving 45{91edff4ab0179c213d4d62ccb73735ad51d636906a6f58336791bd911b76df7b} of its customers to online banking channels over the next two years from a current base of 28{91edff4ab0179c213d4d62ccb73735ad51d636906a6f58336791bd911b76df7b}, according the Financial Times.

Looking further, it is not hard to imagine many branches being used to provide video enabled remote financial advice and assistance. Video conferencing systems are coming down in price, just as high speed bandwidth becomes both more accessible and affordable. To support this branch innovation, we developed Meeting Queue Module for Better Lobby to help connect visiting members to remote staff experts. Using this approach, credit unions can provide full support to any local market without the need for expert staff to be physically present at each branch.

Key Takeaway: All delivery channels must work in harmony to deliver the convenience that your credit union members demand. Top notch self-service capabilities should complement a great branch experience – they are not mutually exclusive.