McKinsey and Company believes that far from rendering the branch obsolete, digital technology holds the key to the branch of the future. They state that smart-branch transformation builds on three pillars:
- the seamless integration of cutting-edge branch technology, which has become cheaper, more reliable, and more accessible;
- the adoption of radically new, teller- and desk-free branch formats at every location;
- the use of digital technology and advanced analytics to improve the operating model in branches, including personalized, data-driven sales and real-time performance management and skill development
Key Takeaway: Better Branches is here to help credit unions with their smart branch efforts via these modules: Video Meeting Queue Module; Kiosk for Self Check-in and Concierge; Branch Service Queue Display; and Mobile Appointment Booking Tool.