W. Michael Scott

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Article

Transforming the branch for sales and lower cost

Jul 17, 2015

By W. Michael Scott
The results of our 2015 FMSI Teller Line Study are in and they support widespread perceptions about declining branch transactions and staff productivity and rising labor costs. Consider that the volume of transactions at community bank […]
Consumer Banking / Digital Banking / Technology
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Article

No Universal Rollout for Universal Associates

Jul 11, 2014

By W. Michael Scott
With the continued accelerated adoption of non-branch channels such as mobile and the web, banks are facing the fact that branch traffic may not uptick anytime soon, if ever. This reduction in traffic not only results […]
Consumer Banking / Marketing & Sales / Talent & Workforce Management
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Article

The Smaller, More Profitable Branch of the Future

Mar 14, 2014

By W. Michael Scott
With branch transaction volumes continuing to decline, banks are exploring their options regarding their branches’ futures. Numerous studies have indicated that customers prefer to have access to branches when they want them, but with that need […]
Consumer Banking / Digital Banking

Article

Strategies for Cross-Selling Success

Feb 10, 2014

By W. Michael Scott
Cross-selling, or persuading customers to purchase additional products, is one of a bank’s most powerful and efficient revenue-boosting tools. Yet, many banks do not cross-sell effectively. In today’s competitive market, banks need to develop carefully planned, […]
Consumer Banking / Marketing & Sales

Article

Finding Opportunity in Declining Branch Volumes

Jan 13, 2014

By W. Michael Scott
With average branch monthly teller transaction volume for financial institutions (FIs) declining more than 45% in the past 20 years, according to FMSI’s annual Teller Line Study, banks are challenged more than ever to keep their […]
Compliance, Regulation & Risk / Consumer Banking

Article

Making Idle Staff More Productive

Nov 22, 2013

By W. Michael Scott
First, the bad news. “Idle time” – those periods during which branch staff is not performing account holder transactions or other meaningful tasks – can account for as much as 30% of bank employee paid time […]
Consumer Banking / Talent & Workforce Management
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Article

Tweaking Branch Hours with Analytics

Aug 12, 2013

By W. Michael Scott
With branch transaction volumes declining more than 45% since 1992, financial institutions (FIs) are struggling to keep branches profitable. While branches are important to FIs as a resource for developing business relationships and customer loyalty, banks […]
Consumer Banking / Customer Experience

Article

Avoiding the Sting of Obamacare

Apr 24, 2013

By W. Michael Scott
When the Patient Protection and Affordable Care Act (ACA; also known as Obamacare) is fully implemented at the start of 2014, it will likely impact how most banks staff their branches. Although the mandates regarding the ACA […]
Compliance, Regulation & Risk / Consumer Banking / Talent & Workforce Management

Article

Improving Customer Service in the Branch

Mar 18, 2013

By W. Michael Scott
Financial institutions, and for that matter, all service-oriented businesses, tend to struggle with customer service. Few (if any) companies become customer service stars without a clear plan to achieve their goals – and appropriate execution of […]
Consumer Banking / Customer Experience
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Article

The ‘People Process’ in Branch Productivity

Feb 4, 2013

By W. Michael Scott
With many financial institutions (FIs) facing another year of declining average retail branch transaction activity and rising payroll costs (40.2% and 76.1%, respectively over the past two decades, per FMSI’s Annual Teller Line Study), upper management […]
Consumer Banking / Marketing & Sales / Talent & Workforce Management

Article

Improving Teller Performance with Peer Data

Jan 9, 2013

By W. Michael Scott
For many banks, improper scheduling on the teller line is one of the biggest silent profit killers in their retail branch network. Because it is difficult to precisely identify exactly what each teller is doing and […]
Consumer Banking / Customer Experience / Talent & Workforce Management

Article

Improving Branch Productivity with Part-time Tellers

Oct 15, 2012

By W. Michael Scott
Increasingly, banks seeking to optimize branch staffing are using qualified part-time tellers to supplement full-time staff during peak volume periods. This strategy is frequently touted as an effective approach to lowering branch labor cost and our […]
Consumer Banking / Talent & Workforce Management

Article

Strategies for Optimal Teller Scheduling

Apr 9, 2012

By W. Michael Scott
Workforce utilization management – the process of tailoring staff schedules to meet need and thereby eliminating wasted payroll hours – is an especially complex task when it comes to tellers. Banks want to minimize customer wait […]
Consumer Banking / Talent & Workforce Management