Terry Ammons, a partner at PKM, discusses how a financial institution can safeguard data and manage risk in vendor relationships.
Even in a digital age, banks still need contact centers to help customers with their digital needs, merger issues, security concerns and financial education.
A three step process for managing wait times in the branch can help reduce customer dissatisfaction.
Banks need to take a more professional approach when managing their branch networks in order to avoid overpaying when purchasing or leasing real estate.
As customers migrate to digital channels, bankers need to aggressively re-configure their branch networks in terms of the number and mix of facilities, the staffing provided and the role of the contact center.
Rather than cutting branches across the board to reduce expenses, community banks should reconfigure them with new staffing models.
Branches can remain relevant, even in a digital era, if banks turn them into centers for higher value interaction with customers.
In the face of a steady downward trend in customer transactions, banks should transform their branches into sales-centric outlets and streamline staffing through more efficient scheduling.