There's little doubt that the banking industry is changing.
In years past, a bank's customers conducted most of their business within the local branch, whether that business involved depositing a paycheck, withdrawing cash or applying for a loan. But the proliferation of technology has left customers with fewer and fewer reasons to visit the branch. Paychecks are now handled via direct deposit, ATM's take care of most cash withdrawal functions and loan applications can be submitted through an online banking portal.
Because customers are visiting bank branches on fewer occasions, financial institutions are under increasing pressure to connect with customers quickly and effectively. A bank may have only a few moments in which to capture a customer's attention and convey its message, making it more important than ever to provide the best customer experience possible. In an ever-increasing number of instances, that customer experience is being provided with the help of digital signage.
Instead of a cardboard counter sign touting the bank's Christmas Club account, a digital sign shows a video of smiling children opening presents on Christmas morning. Instead of a brochure touting the bank's credit card, a digital sign shows a family traveling around the country. And instead of a banner advertising low mortgage rates, a digital sign shows a young couple moving into their first home. The uses of digital signage don't stop there. Before the branch opens, the parent company conducts training sessions with branch employees over the digital signage network. Throughout the day, interactive screens connect customers with financial experts at offices across town or across the country.
As it has done with retail, digital signage is allowing financial institutions to hone the in-store experience with a level of precision and visual appeal that has never before been possible. It is an evolution that is in process and one that will result in the total reinvention of the bank branch.