Banking and Financial Services – Digital Signage


Digital signage can serve functions beyond the obvious display of ads touting a bank’s products and services. Interactive touchscreen displays can handle some of the functions previously accomplished by a teller, allowing that person to accomplish other, more profitable tasks.

A display outfitted for teleconferencing can serve to connect customers with an off-site expert. When the branch is closed, digital signage can be used to train bank employees on new procedures, eliminating the need to send trainers to individual branches.

There are four specific reasons why FIs should consider using digital signage to communicate with both customers and employees.

1. Training: This is a critical component for banks and credit unions. Most have several branches and many have dozens or even hundreds spread across large geographic areas. Banking also is one of the most heavily regulated industries, and many of these complex regulations flow down to the teller level, where turnover can be as high as 50 percent per year.
2. Cross-selling: The cross-sell is at the core of a financial institution’s success story. There is substantial research that shows the more products a person pur­chases from a financial institution, the less likely it is that person will leave for another bank. This is a critical issue, because the ability for a bank or credit union to effec­tively execute the cross-sell often falls on the tellers. Yet the tellers are usually under­paid, understaffed and have not received an adequate amount of training.
3. Experience: Banking is a commoditized industry which has very few differentia­tors outside of the brand experience. That experience starts when the customer walks through the door and hopefully carries for­ward with that person even after they leave the branch. It involves interaction with the employees of the bank, traditional adver­tising outlets, the Internet and the interior and exterior of the branch. Digital signage offers the opportunity to enhance the brand experience that customers receive each time they enter the branch.
4. Drive-thru: The drive-thru often is the most overlooked part of the digital signage equation in a branch. Yet the statistics prove that it should be one of the most carefully planned and executed. Between 40 and 60 percent of customers use the drive-thru on a regular basis. That’s a stag­gering number, when the importance of the cross-sell is considered.

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