These are the good ol' days for retail banking customers – if their bank or credit union isn't cutting it for them, they have no qualms about taking their business elsewhere. In fact, polls indicate that approximately 20% of consumers switch banks in the average year.
Financial institutions are well aware of the alternative options available to those that bank with them. It's why more are leveraging state-of-the-art technology to better serve their customers' needs, which in turn, has encouraged highly satisfied account holders to remain loyal. This high-tech/high-touch approach to service has enabled banks to increase engagement via automated functionalities that help free up resources and provide the more personalized experience customers crave.
Banks still encounter challenges
Vendors provide critical support to thriving banks and credit unions, enabling them to fulfill an increasingly wide array of consumer needs. Unless they don't. Not all FIs get the service they deserve from their vendor base. FIs still experience challenges, yet unlike their customers, they don't feel as comfortable with seeking out greener vendor pastures.
Opportunities abound for financial institutions that are savvy enough to partner wisely. While automation has broadened banking horizons, fewer than 20% of banking executives consider themselves to be well prepared for the future in terms of servicing and equipping their branches with state-of-the-art technology, according to a recent study conducted by PricewaterhouseCoopers. And this has yet to be addressed by their current vendors.
"Just 17% believed they are succeeding in achieving simplification."
Furthermore, while banks acknowledge that ease of use is something their customers want in spades, they don't feel like they're making the appropriate strides in this regard. This may be due to complications with their affiliate vendors. Indeed, 70% of executives in the PwC study said they were investing in streamlining products, channels, prices, technology and back-office processes – yet just 17% believed they were succeeding in achieving simplification.
If any of this sounds familiar, BranchServ hears you loud and clear. You only have so many things you can do at once, which is why you should partner with vendors that can serve as an extra set of hands – whether those "hands" come in the form of electronic security, physical security, automation or design. If your current vendor is not delivering, why not try an alternative?
You name it, BranchServ handles it
Regardless of the need, BranchServ has you covered. The inevitable branch equipment breakdowns never come at a convenient time, which is why our Resource Operations Center remains fully committed to working with you and your branch offices to deliver expedient and convenient service. Our response times are the best in the industry, however we also work with you to determine the times of the day that are slowest so we can ensure that our visit won't inconvenience your business any further.
Sometimes, what seems like a complicated problem has the simplest of solutions, such as a new part to swap out with one that is malfunctioning. BranchServ parts have a 98% success rate, meaning that once we diagnose the error, glitch or snafu, the replacement is a virtual lock to getting things back up and running. If not, we guarantee that we will find an alternative solution – fast.
Speaking of locks, they're pretty key (pardon the pun) to your branch's security. Yet sometimes they malfunction or keys get misplaced. BranchServ has the resources, knowledge and accessibility to provide the highest levels of support from our lock shop in our North Carolina facility. This is just one of the specialized services we've developed in response to the needs of our customers. BranchServ also offers decommissioning, escheatment and more.
We get it – you've been with your service provider for many years, and by branching out, you don't know what you may be getting your bank into. We're all about quality assurance at BranchServ so you really have nothing to lose and everything to gain. You don't even have to sign a contract with us to make the switch. Our OnDemand service program is designed for clients who prefer a pay-as-you-go model. You won't be boxed in if you want to give us a try.
For a one-of-a-kind experience and unparalleled commitment to your bank's success, contact us for a no obligation consult.