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Why Should Banks Invest in Digital

Blog written by Jasdeep Kohli

To effectively reach tech-savvy customers and distinguish themselves, banks all around the world are augmenting their use of digital signage for in-branch branding, customer and branch services promotions, reducing perceived waiting times, and uplifting ambiance. In fact, research shows that 60% of banks use digital signage for customer communication.

In this article, we’ll discuss how banks can adopt digital signage to reposition themselves to stand out in terms of the products they offer, and the customer experiences they deliver.

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  • 1. Evolve the in-branch experience

    In today’s digitized era, tech-savvy customers walking into a local branch expect their bank to be at least as sophisticated as they are themselves. Bank digital signage — from street-facing displays to touch screen kiosks, counter displays and mobile — offers dynamic content and has been proven to capture customers’ attention and increase their recall of information, branding and services promoted.

    2. Increase customer engagement

    While waiting in a queue at a branch, customers tend to get impatient and usually perceive their waiting time to be greater than their actual waiting time. Digital screens can portray information regarding banking products, real-time queuing, entertainment, real-time news and weather feeds to help entertain customers and reduce perceived waiting times.

    3. Drive branding and promotion

    With its ability to display dynamic interactive content, bank digital signage can be capitalised to promote banking products and services to a captive audience. Sensor and artificial intelligence technologies help banks to tailor specific messages according to audience personas.

    4. Enrich Corporate Communication

    A centrally controlled content management system allows content on multiple screens across branches to be updated with ease. Instead of starting email threads, or updating information on rarely visited portals, corporate messages can be shared with all the branches simultaneously using digital signage to train employees, impart product knowledge, and provide important updates.

    5. Self-Service Terminal Integration

    Interactive touch screen self-service kiosks increase efficiency and reduce staff costs by enabling customers to perform basic routine transactions easily. These kiosks can feature information in different languages to better cater to the local communities.

    6. Understand Customer Behaviour

    In-branch data such as footfall, dwell times and pathing can be harnessed to understand customer behavior — bridging mobile, place-based media and a 360 degree customer view. With this deep customer insight, banks can map each aspect of the customer experience, streamlining digital signage and content optimization strategy and triggering smart messaging and relevant content on visual display and mobile.

    Transform Your Bank With Digital Signage

    Bank branches are the forecourt of modern banking. Digital signage brings many benefits to help banks transform the in-branch experience and deliver exceptional customer service.

    For over 30 years, Scala has been delivering state-of-the-art marketing technologies and digital signage to help businesses propel digital transformation and drive sales.

    Click here to learn more about Scala’s digital signage solutions for banking.

About the Author

Jasdeep Kohli, Vice President Marketing – APAC at STRATACACHE, leads the spectrum of marketing initiatives across the Asia-Pacific region, covering customer engagement & product marketing, digital and social media marketing, branding & public relations. With extensive cross disciplinary expertise in marketing, branding and management, he has been a key driver in promoting STRATACACHE as a thought leader and extending its brand presence in APAC.

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