Self Service Automation to Unlock Value Across Bank Branch Operations

Self Service Automation to Unlock Value Across Bank Operations

We live in a digital age, where no organization of the global economy can be immune from automation and the advent of digital means of operation. Confronted with growing regulations and competition, bank need to take advantage of any opportunity to streamline their processes, upgrade user experiences and gain competitive advantage.

The rise of automation and digital channels in banking has raised fundamental questions about the role of the traditional bank branches. As consumer preferences evolve and new channels emerge, bankers must consider how the traditional branch fits into their institution’s networks, and how to allocate investments across the spectrum of branch operations.

Banks have enhanced many of their customer-facing, front-end operations with digital solutions. But too many processes at bank branches still rely on people and paper. Often, branch offices have many employees processing customer requests. These existences of manual processes are costly and slow and often lead to inconsistent results.

By integrating the channels through which they sell to and serve customers, bank branches can take the best advantage of their physical and virtual locations and add value at every touchpoint.

Why is automation important for banks?

  1. Simplifies work: Not all work is created equal and in many banks simple work is intermingled with complex work. This can create issues such as process bottlenecks, complicated workflows, and slow customer service. Separating the simple from the complex can go a long way in making bank interactions better for customers and employees.
  2. Reduces process re-work: Enabling repeatability and streamlining various processes help a bank to reduce rework. Automation helps to run the process as a highly efficient factory and its benefits grow exponentially with time.
  3. Improves the quality of work: Automation helps to reduce errors by eliminating human interaction and decision making for tedious activities across the banking value chain.
  4. Increases efficiency: Automation helps free-up resources that can in return focus on higher value activities.
  5. Improved customer service and time to market: Better output, lower rework, and fewer errors are all result for speedy turnarounds.

To engage and retain customers who favour digital banking, branches must strike a balance by extending and enriching in-branch services and redefining the branch as a relationship management center.  New technology like Automated Storage and Retrieval Lockers offer self-service banking solutions that can rescue bank branches from needless expenses, errors and reduce walk-in customers by carrying out banking activities without the need for human interaction. With Smart Lockers, banks can automate and run time taking tasks such as processing and deliveries of account statements, cheque books, credit/debit cards etc. without human intervention and help achieve higher operational capability

Automating customer-facing activities and processes allows bank branch employees to devote more time to performing high-value tasks and services such as sales etc. Branch operations can focus on continuous process and performance improvements based on a thorough, contextually relevant understanding of customer needs.

Benefits of Smart Locker in the bank

  1. Automation of Deliveries: Smart locker helps automate the complete drop-off and pick-up process. When the deliverables dropped into the locker, the customer can pick it up by entering their mobile number and OTP
  2. Free up your Staff: Bank staff can do much more than performing silly tasks. They are the ones best suited to automate the tasks they handle and can focus more on to improve the processes.
  3. Transparency of Operation: Smartbox provide a central dashboard, where the bank can see the current status of the deliveries whether it is awaiting status or picked up and also keep monitoring the locker events.
  4. Increased Productivity: Smartbox assist in simplifying processes as it eliminates tedious and repetitive task which in turn increase the productivity of each employee
  5. Safety & Security: Account statements, cheque books, credit/debit cards no longer stored in the drawer but are protected by the built-in security camera, complete package tracking system and an online portal for delivery.
  6. Works 24*7: With this facility, Customers will be able to take services 24*7 beyond the bank opening and closing time. Just enter the OTP and retrieve the parcel within less than 10 seconds.

If you are curious to learn more, dial +91-8882-760-760 to speak with one of our representatives or send an email to info@smartbox.in. We would be glad to assist you

Smartbox

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