Baby boomers' payment preferences can be quite different compared to millennials'.

One Size Doesn’t Fit All: How Banks Need Specialized Services

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Newsflash: Every customer is different and things change.

Seems intuitive, right? Of course it is: Banks and credit unions fully recognize this in serving unique and ever-changing communities, and subsequently adapt services and offerings to meet the evolving needs of their customers. Of course most people require things like savings and checking accounts, mortgages, financing or small business loans; thus these remain the bread and butter for financial institutions.

That said, the way financial institutions retain customers and expand their base is by going deeper; identifying very real, very unique customer needs and responding with specialized, perfectly crafted financial products.

"Balloon" loans to accommodate a scheduled payment? You got 'em. Letters of credit to help enterprising entrepreneurs woo foreign suppliers? Piece of cake. Commercial loans that follow the terms of a standard loan, only for a small business? Totally in your wheelhouse.

So if one size doesn't fit all when it comes to your customers, shouldn't you expect your bank equipment service provider to look at your needs the same way?

Partnering to facilitate growth
The key to the survival and success of a branch or credit union lies in its agility and ability to respond to its clients with expediency and professionalism. Subsequently, service-oriented technology partners that keep you on your toes are in your best interest. But, as we've discussed before, change is hard, and some fight against it tooth and nail.

"We've had the same partners and done things a certain way for decades and it's worked for us," they might say. Or, "Our staff is managing things just fine, even if we sometimes need to wait for help."

At the end of the day, however, this puts the burden on your front line – a burden that often gets passed on to your customers. With evolving, increasingly technological branches, your staff needs you to choose wisely so they can focus on the big picture. An innovative service partner supports the backend of your operation in ways that help you do what you do best, and makes an effort to get to the heart of your facility and meet all of your needs, even when they aren't plain vanilla.

Going above and beyond in service and security
You know your customers better than they know themselves – meaning that, given the time, you can deliver the customized, specialized service they need – and be ahead of the game, having the services available before they come to fruition. Do your vendors do the same for you?

When service partners are slow to roll out new services that address your changing needs or industry shifts, it costs you both time and money. And when operationally critical aspects of branch management – such as security – are compromised, you don't just risk dropping the ball with customer service. You might end up inviting fraud and theft.

So what are banks and credit unions looking for now, above and beyond traditional maintenance and repair? A provider with a strong portfolio of automationphysical and electronic security offerings who also supports them with comprehensive and customized service solutions that recognize and address their unique needs. BranchServ, whose services run the gamut, is an excellent example.

Consider the BranchServ escheatment solution. Sometimes escheatment is as hard to execute as it is to pronounce. BranchServ aggregates escheatment and tackles safe deposit box needs for banks and credit unions in a timely manner and in accordance with compliance protocols.

And what about the burden of managing branch equipment for closing branches? It's an unsavory task at best. BranchServ is there to help its customers with removal, disposal and relocation with our highly reputable Decommissioning Program.

Our lock service program for lock repair and malfunctions provides on-site locksmith services, both for routine lock-picks and complicated workarounds. And then it backs it up with a professional lock shop for more challenging issues.

What else? BranchServ provides:

  • Storage for customers' night deposit keys for an extra layer of preparedness.
  • Equipment leasing and lease-to-buy for those seeking another option to purchase.
  • Video surveillance short-term replacements to avoid repair interruptions. 
  • And much more.

The contrasts are clear, and to thrive, banks must customize. BranchServ is your customization headquarters, but we go above and beyond traditional day-to-day operational services for your customers. We also stop at nothing to come to the aid of your employees, whose needs aren't cookie-cutter.

Experience the BranchServ difference and improve the customer experience for all with our team of experts there to guide you. 

Want to learn more? Contact us today!