Category Archives: Appointment Scheduler

‘Digital First’ Not ‘Digital Only’

In the BAI Banking Outlook research on 2022 trends, financial services leaders reported that these are the top three ways accountholders utilize the branch network:

  1. open or close an account
  2. conduct a transaction
  3. resolve an account problem

Appointments – whether in person or by video – are ideally suited to reasons 1 and 3. Experience shows that more accounts can be opened on the first visit with appointments. Plus return visits for the same new account opening are minimized because the member has been told exactly what paperwork to bring to the appointment.

When it comes to resolving financial account problems, nothing beats a face-to-face conversation with an empathetic CU employee. Our CU partners are increasingly conducting these important meetings by video because Better Lobby Flexible Branches Video Meetings helps deliver a more personalized member experience from the member’s home, car, or office.

Key Takeaway: Going forward, successful CUs will be the ones that combine robust digital-first capabilities with top-notch support from branches and contact centers.  

Retaining the Human Touch in Digital Banking

In a recent article in Technology Record magazine, there was an interesting discussion on how digital-first banking approaches can often end up causing frustration for account holders. It states that “customers’ expectations are higher than ever when it comes to digital banking, but new data from Gartner has revealed that most still prefer to connect with humans via physical and assisted channels when it comes to banking, especially for high-value transactions.”

What steps can CUs take to adopt an omnichannel strategy to cater to members who prefer human assistance for complex transactions? Perhaps the most important step is to offer appointments both in the branch and via video. Video meetings – both by appointments and unscheduled video meetings – especially help bridge digital services with human support. Offering video helps demonstrate that your CU is attentive to your members’ desires for meaningful and engaging interactions and financial discussions. 

Key Takeaway: Better Lobby’s suite of omni-channel modules help to seamlessly incorporate digital and physical channels resulting in enhanced member satisfaction, as well as greater loyalty and retention.  

2021 Consumer Banking Report Reveals Continued Branch Importance

There are many striking findings in EPAM’s Consumer Banking Report 2021 that surveyed 4,500 consumers in 4 countries. They include:

  • Banking consumers in the U.S. specifically expect to visit their branch more than 40 times a year going forward
  • 40% of 18–24 year-olds used their physical branch at least monthly in the past year
  • Over one third are looking for a more personalized experience with their finances

With these results in mind, credit unions must strive to make each and every branch visit both productive and efficient for their members in 2022. Appointments can help by maximizing staff productivity, while providing a more streamlined and convenient branch service experience to both new and existing members. They also help address the personalization component mentioned above – appointments ensure that employees are well prepared for every visitor.

Key Takeaway: Your members still want face-to-face interactions even as they ramp up their use of your digital channels. Appointments will be table stakes in 2022 for CUs as branches continue to be in demand by members of all ages.

Increasing credit union relevancy

In a recent Financial Brand article Andre Iervolino, former CTO at Rev Credit Union, laid out 10 key change factors CUs must understand, plan for, invest in, and — in particular — execute on in order to not only remain relevant in banking’s future, but increase their relevancy.

One of his 10 items was: Employees will be trained to identify member needs by life stage and will be empowered by tablet banking and personalized appointment scheduling platforms to be able to carry on comfortable interactions and conversations as they and the member walk around the open space at the branch and connect emotionally.

Key Takeaway: Mr. Iervolino, who has over 20 years of credit union experience, makes some valid and interesting observations in his article (see article here). We directly address the two items mentioned above with our Kiosk and Appointment solutions. Plus we also offer other modules (video banking, online queueing, etc.) that greatly assist credit unions in their quest to increase relevancy in a world where consumers have a plethora of options for managing their finances.

Taking a Consultative Approach

In a recent Banking Exchange article, this question was posed: Can education and consultations really keep traditional FIs competitive? The author states that the answer is a definitive Yes.

He points to Best Buy as a real-world example. In a successful effort to differentiate themselves from Amazon and other pure online retailers, the electronics vendor introduced an advisor program in 2016 for free in-home consultations. This decision ultimately helped Best Buy built trust and loyalty that continues to help keep the company healthy today.

Key Takeaway: As branch transactions continue to decline, the need for personalized advice and consultation continues to grow. Whether in-branch (via appointments or walk-in) or by Video (appointment or unscheduled), Better Lobby Solution makes it easy for CUs to hold productive and consultative member visits in whatever channel the member desires.

Branch Formats Evolve

Branches remain the dominant channel for opening new accounts or applying for loans, according to research from Big 4 accounting firm Deloitte. Plus as a first human point of contact, the branch carries a tremendous amount of weight in trust, reputation and brand building, their report states.

Branches continue to transition away from transactions and focus on advice, guidance, problem resolution and good old fashioned face-to-face service delivered by knowledgeable staff. Many credit unions are finding that the best way to provide access to their banking experts is by appointment scheduling.

Key Takeaway: Branch formats continue to evolve for many CUs, and more often than not this evolution centers around offering convenient appointments to busy members.

Redefine the Branch Experience

Research continues to show that most Americans still prefer branches for more complex financial needs and advice. The consensus among industry observers is that branches must quickly transition away from transactions to become centers of advice and sales.

In order to make this transition, your branch staff will need the latest technology and tools that will empower them to better engage with members. One tool that helps deliver higher levels of service is texting. Americans of all ages enjoy and use texting on a daily basis for quick communication. We have developed texting tools that your members will appreciate, e.g., Text Me When I am Soon to be Served; Parking Lot Check-in via text; and Notify Now that permits your staff to text waiting visitors that it is their turn for service.

Key Takeaway: Redefining the branch experience demands innovative software. This is our reason for being: providing innovative, affordable software solutions that help CUs deliver the highest standard of service.

Delivering Relationships

Well known financial consultant Dave Martin recently noted in one of his articles that “as banking increases self-service technology, our face-to-face interactions may become less frequent. Each one, however, becomes more important, not less.”

One excellent way to ensure that each face-to-face interaction is meaningful is to allow your members to schedule appointments – either in-person or via video. Appointments ensure that your staff is properly prepared for the meeting in advance. Plus notifications – either email or text or both – remind your members to bring the necessary paperwork to the meeting which helps ensure that the meeting is successful on the very first visit.

Key Takeaway: Appointments can play a key role in helping in boosting member satisfaction levels.

Digital Banking Has Limitations

J.D. Power’s latest Retail Banking Satisfaction Study reveals that even those consumers who use branches lightly under normal circumstances feel there’s a dimension that mobile channels lack – essentially, there is a give and take in face-to-face conversations that is lacking in digital communications.

Without a doubt, digital-only consumers surged during the pandemic as lobbies were closed across the country. However as in past years, this year’s J.D. Power survey found once again that digital-only consumers were less happy than digital and branch consumers. It seems that both financial advice and problem resolution are two critical items that people wanted handled in the branch.

Key Takeaway: Many of your members crave face to face interactions. Appointments and online queuing are two great ways to satisfy this demand personal interaction in ways that are both convenient for members and efficient for your staff.

No Insignificant Branch Visit

Long time financial industry consultant Dave Martin recently published an article where he noted that “there is no such thing as an insignificant branch visit any longer. Providing excellent service in our branches has always mattered. In many ways, it has never mattered more.”

Very timely post-pandemic observations for CUs to consider as they re-open their lobbies. Your members have missed face to face service and now is the time to make sure that you welcome them back as best that you can. This means making it easy for members to:

Key Takeaway: We are here to help you implement each of the items above, and help ensure that every branch visit is positive and productive for your visitors.

CUs and Travel Agencies

In the early 1980s when booking travel was an in-person experience, travel agencies in the U.S. peaked at around 20,000. Today there are around 10,000 travel agencies in America. What lesson can CUs learn from this dramatic change? Perhaps the biggest one is that these surviving travel agencies have been successful because they are focused on providing services where advice, expertise, and complexity management command a premium.

Just as members often self-book their flights, hotels and car rentals, many often handle basic financial transactions online or on their mobile devices. CU branches are increasingly reserved for delivering that human touch that so many people crave when it comes to seeking financial advice, expertise, and complexity management.

Key Takeaway: Now is the time to repurpose your branches to make them easy for your members to come to hold important financial conversations. Appointments and online queueing are key components in efficiently enabling this new consultative, non-transaction branch paradigm.

The Future of In-Person Banking

GoMoxie, a customer engagement software company, recently published a survey indicating that 62% of consumers prefer to use FIs that have a physical presence, rather than a digital-only presence. Many industry experts believe that the future of in-person banking will focus on:

  • Appointments
  • Value-based and higher level services, i.e., mortgages, loans, financial advice/investments
  • Problem solving

Key Takeaway: Without a doubt, the look, feel and purpose of your branches will be much different post-pandemic; and appointments – for both in-branch and video meetings – will play a key role in defining this in-person banking transformation.

Banking should be Personal

Many members feel that their relationship with their CU should be personal. Garret Reich, Editorial Associate with The Financial Brand, puts it well: “Few topics are as intimate, intimidating and important to people as money. That’s why many consumers like the idea that they can discuss their financial issues with a real, live human. In this Digital Age — dominated by automated phone trees, call centers (often located in other continents), self-service technologies, and impersonal robots — consumers still like being able to walk into a branch and talk to a service rep.”

Notice that he said service rep, and not teller. That is because the branch is rapidly transforming into a service center for higher value interactions and moving away from low level transactions that are often best handled digitally.

Key Takeaway: Your branches will most likely look quite different post-pandemic, and increasingly the best way to serve members in the branch will be via personal appointments scheduled at the member’s convenience.

Michigan CU Reaps Rewards from Keeping Lobbies Open

Michigan First CU has kept all of its 30 offices open during the pandemic and was rewarded with record business results, according to CEO Michael Poulos in a recent CUToday article. The $1.3-billion CU actually enjoyed the highest number of new accounts during a recent four month-period.

The CU committed to rigid CDC safety standards and has also relied on appointments. According to Poulos, “we did ask members for their help. We asked them if they had to speak with one of our team that they try to schedule the appointment, which helped with addressing traffic in the branches and just doing business.”

Key Takeaway: Branch appointments provide a convenient and welcomed alternative for members who do not want to wait in your lobbies.

CUNA’s Michlig talks evolution of branches post-pandemic

CUNA Chief Engagement Officer spoke to Forbes recently about what the coronavirus pandemic means for branch traffic and he pointed out that “there’s always been a desire for credit unions to continue to have that in-person presence.” He suggests that branches post-pandemic will be used more for consultations with staff members as well as financial well-being programming.

Both of these reasons for branch visits are perfectly suited to appointments. Members appreciate the convenience of setting an appointment to speak with an expert at their local CU branch, especially considering the financial stresses that are occurring for many families during the ongoing pandemic.

Key Takeaway: Appointments are quickly becoming the norm for CU visits not only due to COVID, but because they are a boon to member service quality, as well as branch sales.

Post-COVID Branch Technology Trends

In a recent article in the Financial Brand, James Caliendo, CEO at PWCampbell, a professional consulting and construction services organization specializing in financial services, stated that only those FIs that are willing to fresh branch technology approaches will prosper post-pandemic. He recommends that they expand their branch technology mix to include new tools like interactive kiosks, iPad integration, digital marketing screens and video conferencing.

We completely agree with his recommendations and have directly addressed all of these areas with our Better Lobby modules:

  • Interactive Kiosks & iPad integration (BL Kiosk 5)
  • Digital Marketing Screens (BL Wall Display)
  • Video Conferencing (BL Flexible Branches)

Key Takeaway: Technology will never replace face to face branch interactions, but technology will always play a vital role in enhancing the overall member experience.

Branch Banking Remains Popular After COVID-19

In a recent poll conducted by Boston Consulting Group, just 3% of Americans said they would stop using branch banking altogether in response to the coronavirus pandemic. Without a doubt, this means that closing branches would not be advisable. Yet, CUs must seriously rethink how they plan to handle lobby visits post-pandemic.

Better Lobby offers may ways to keep your lobbies open – both safely and efficiently:

  • Appointments
  • Online Queuing
  • “Text me when I’m soon to be served”

Key Takeaway: Your members expect and want access to face to face meetings. Fortunately there are affordable ways to meet their needs.

The Branch Experience

According to a recent report from research firm Celent, “when it comes to quick questions, the call center beats text messaging, chatbots or social media. But for longer conversations on financial advice, new account or loan applications, and other key life transitions, customers across all age groups still prefer in-person interaction.” They conclude that financial institutions “should invest in making their branch experiences more seamless and powerful.”

Key Takeaway: Despite overwhelming satisfaction with mobile/online banking tools, along with increased digital channel adoption levels during the pandemic, many members still have a strong desire for in-person service. We can help you make these branch experiences more seamless and productive via our appointment scheduling and online queuing tools.

Appointments More Important Than Ever Post-COVID

Coronavirus has not eliminated members’ need to transact or finalize complex financial arrangements in the branch. Nor has it lessened member desire to speak with CU employees face to face about financial products and services. In a recent PYMNTS article, the author concluded that: “In-branch banking will exist long after the pandemic has abated, but it may shift from what consumers were used to seeing.”

This shift will certainly see the current surge in online and mobile transactions continue. Simultaneously, it will also include increased demand for appointments for opening new accounts, financial advice and face to face problem solving. Appointments represent a win-win for CU staff and members: they can be granularly scheduled to limit lobby traffic and thereby comply with social distancing requirements. 

Key Takeaway: Now, more than ever, is the time to allow your members to book appointments with your CU.

Flexible Appointment options

In a recent CU Journal opinion piece, Sean Desmond, chief customer success officer at nCino, notes that “credit unions are in a unique position to both help their members during this challenging time and solidify their status as their members’ trusted financial resource for the future.” He recommends that credit unions reach out to members and “proactively contact them to set up virtual or phone counseling appointments. Listen to their concerns and provide a roadmap for their financial future. As their primary financial institution, you are in the perfect position to help guide them toward achieving their short- and long-term financial goals.”

Key Takeaway: Appointments can take many shapes: in-person, phone, video from branch to branch and video from the member’s device to the CU (also known as BYOD – Bring Your Own Device.) Regardless of how they are conducted, appointments help underscore that your CU offers a full range of contact options and places a priority on convenient access.

CUs excel at Personalized Service

The 2019 Retail Banking Report from Bain & Co. found that community FIs were experiencing ‘rampant’ leakage of accountholders to BigTech, Fintech and specialist start-ups. These companies often offer robust mobile apps and full featured websites that appeal to digital consumers. Yet survey after survey shows that all demographics – even so-called digital natives – still visit branches anywhere from monthly to at least quarterly on average. Some research even reveals that credit union members desire more personalization and in-person interaction at the branch than bank customers do.

Why is this the case? Of course, people want to feel like they have physical access to their money, but more importantly they seek face-to-face financial guidance and personalized assistance that digital channels cannot provide. Personalized assistance is where CUs have always shined – members can count on their CU to deliver friendly service and consultative advice.

Key Takeaway: In these difficult times, people are trying to maintain some degree of normality. Keeping your lobbies safely open, perhaps by appointment only as quite a few CUs and other organizations are doing, is one way your CU can continue to provide personalized service in a familiar environment.

Improve the experience and safety of your lobby visitors

Personal finances need constant attention, especially when disaster hits. In difficult times, many people want face-to-face advice which is why many CUs are finding creative and safe ways to keep their lobbies open. Here are some ways that we help CUs accomplish this goal:

  • Appointments – Many FIs and other organizations are currently switching to appointment-only branch visits.
  • Online Queuing – Online queuing addresses lobby waiting issues by empowering your members to queue in advance or avoid queues altogether.
  • “Text me when I’m soon to be served” – With this new feature in Better Lobby, visitors are free to wait for branch service wherever they like and know that they will receive a text when they are soon to be served.

Key Takeaway: Branches have always provided the most personalized way to deliver service, information, and counseling. When everyday life is disrupted unexpectedly, face-to-face branch visits become even more critical in positioning your CU as a trusted advisor.