insight
Internet of Things
By: Sagar Sharma

7 reasons for banks to invest in a digital signage solution

It’s not a big secret that customer experience (CX) today is a more powerful customer loyalty driver than price-value perception. This is specifically true for banks, says a Forrester Research –

“Customer experience accounts for 55% of loyalty, and when taken together with price-value, the percent of loyalty goes up only slightly, to 56%”

Forrester

This means that for higher customer loyalty, traditional bank branches should prioritize on improving customer experience. Like every other retail business, banks need to adopt the latest in digital to keep their customers happy when visiting their brick-and-mortar branches.

Enhanced in-branch experience with Digital Signage

With a majority of retail banking tasks being shifted to online space, brick-and-mortar experience has to be different from what it used to be a decade ago. In the age of consumerism, everyone is glued to some form of screen. Digital signage provides an opportunity to banks to create a familiar experience for their screen-obsessed customers.

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Queue Management

Bank

 

Token-number-based queue management systems allow customers to sit and relax while waiting for their number. However, the same can easily be implemented with Digital Signage. Further, Banks can keep customers engaged by using the unavoidable waiting time for providing useful and relevant information.

Branding and Promotions

Dynamic visual content can help banks in generating customer interest and raise awareness about their products and services. It also provides cross-sell and upsells opportunities to banks. Digital signage can substantially enhance communications by integrating with banks’ CRMs and marketing automation tools. With content in the form of videos and banners, relevant information can be easily and effectively passed on to customers.

Easy updates

Easy-updates

A major challenge for banks is to constantly update their posters and banners to reflect latest rates. Printing and distribution of banners/posters involve huge costs. These costs can be easily minimized with Digital Signage as one can easily tweak the content across the board via a central CMS. Further, administrators can choose to customize content for specific branch requirements (regional language/ festival etc).

Automation

Banks can create a calendar for content and systematically schedule it weeks and months in advance. This allows managers to focus on other critical aspects of their operations.

Internal Communications

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Digital Signage can offer similar numerous benefits to banks in meeting their communication needs at non-retail branches. Banks can utilize digital signage for internal communications, reporting, policy updates and training purposes.

Self-help interactive kiosks

These days, customers are more used to online banking than visiting the branch in person. Banks can offer them touch-screen kiosks to access their own account details or browse through other services offered by the bank. Further, kiosks can also help banks in reducing staffing requirements.

Credencys Solutions Inc is a leading software development services and solutions provider which has helped numerous businesses in their business growth. We offer Xynage – a digital signage solution suiting varying communication needs for businesses. To know more about our digital signage solutions, visit www.xynage.io

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