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Branch Technology Integration

Integrating Technology for a Seamless Customer Experience

New technology plays a major role in retail banking and we believe that a sound technology strategy should be driven by objectives rather than trends and shiny objects.

Our unique design build process creates more seamless technology integration by bringing IT staff and technology partners to the table during the conceptual design process where their input can have the greatest impact.

How We Do It

Using Technology to Craft Better Experiences

In our experience, effective technology integration is subtle. It’s not iPads in the lobby. But, rather an enabler of staff efficiency, more casual and personal experience between staff and customers, and a line of consistency drawn between in-person and digital experiences.

Take New Alliance Federal Credit Union as an example of a fully tech-enabled branch. The one thing that is lacking is an overt display of technology – there are no touch screens, interactive walls, or information kiosks.

Yet technology plays a major role in New Alliance’s branch operations. The universal associate staff members are fully untethered with laptops rather than fixed terminals to process transactions and help clients with any issue they bring through the door.

How Our Design Build Process Enables Better Technology Integration

It’s one thing to design the branch layout around an untethered universal associate staffing model with laptops, tablets, cash recyclers, and other technology support. But, what about the back end? All too often IT departments run into the challenge of implementing a top-down solution and making it fit the space.

Article - Three Reasons to Involve IT Earlier in a Branch Project

Here at Momentum, we take into account all the work that needs to be done behind the scenes to support your operational model. That’s why we bring IT to the table from the very beginning. Your own team has a deeper understanding of your core technology and back-end that anyone else. Their input from the beginning of the design process can ensure that the physical space fully enables them to implement the technology back-end that supports your in-branch technology. And your IT team may also be able to identify technology opportunities that can further improve branch operations.

The result is seamless technology integration that supports the member experience and that employees are comfortable and eager to use.

 

Digital Transformation and the Risk of Commodification

Digital transformation is no longer a differentiator - it is table stakes. When competing on the internet it can be challenging for credit unions and community banks to stand out among the noise of big banks and fintechs. Less than a quarter of consumers rate their main bank’s products and services highly. These factors come together to transform financial products and services into commodities where consumers will perpetually chase the lowest rates or best offers.

So how can you differentiate your financial institution, build relationships with your customers, and break out of the perception of being a commodity?

It’s all in the human interactions. Customers may not be coming in for the basics, opting for the app instead. But, they do come in for the big things such as opening an account or applying for a mortgage pre-approval. If you can deliver an exceptional experience with staff who deliver excellent consultative services, then you have an opportunity to establish a strong relationship with this customer. This is an area where massive opportunity is left on the table, with less than a third of consumers rating their bank’s customer service as excellent.

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