Pub. 3 2015 Issue 1

Issue 1. 2015 25 I n the age of digital media, investing in your tellers may seem counterintuitive. Most banks that I visit with don’t seem very interested in products that require human intervention. The drive in the in- dustry is to outsource any and all functions possible to the consumer. Of course this is all done to be more convenient to the cus- tomer. Why not be able to take a picture of a check while I am sitting on my couch and deposit it into my bank? The solution is great, but is there real service there? Given the transition in banking to web-en- abled services, one has to wonder, will the teller survive? Nationally tellers are declining at a rapid pace. Since 2007 the number of tellers in the US has decreased by 13.2% according to Bureau of Labor and Statistics. Teller salaries are also decreasing. In 2013 the average teller salary decreased by 6.7% after adjusting for inflation. These factors are leading to a smaller pool of talent from which to pull and eventually will lead to turnover. So why should we continue to staff the teller line? The answer is that customers crave the human interaction. If we could simply place machines outside and have our customers do all of their banking through them, the ATM would have long since destroyed the teller line. If mobile banking was the answer, banks would see much higher adoption rates than the 15% that I typically hear. The fact is that bank customers still want to see a face while conducting transactions. There are additional reasons why we need tellers. Oftentimes the transactions are too complicated for self-service channels. Perhaps I want to deposit three checks along with some cash, but I also need to split that deposit to two different accounts. What if I need to make a loan payment? Most ATM’s can’t accomplish these func- tions. We also have consumers who are just “teller addicts”. They visit the branch because that is their social outing for the day. It is a time to connect with people they know and complete a transaction or two as well. Both of these scenarios offer opportunities for banking personnel to truly shine. Salvation for Tellers in a Digital World By Josh Banta, VP Service and Technical Sales, Data Business Equipment, Inc. Video teller allows this to happen while enhancing your teller’s reach. Now instead of servicing one branch, that same outstanding teller can assist several branches all within a matter of minutes. While completing simple and complex transactions, video tellers have the ability to connect with customers and service them in a much more efficient and expedi- ent manner. The hardware available today will allow the teller to complete about 90% of the functions of a physical teller line wherever the device resides. With the machines doing the heavy lifting of counting and balancing, banks have the ability to reinvent the teller position. They can now start hiring a different skill set. A person who can truly connect with a customer and understand what it takes to build a relationship. Someone who doesn’t have to be concerned with joining the $100 club when their drawer doesn’t balance. Many banks have these skills already at their teller line, but just need the technology to uncuff their people and allow them to flourish. With a retooled teller staff, banks can focus on cross-selling and satisfying their customer needs, one session at a time. In the recently released North America Digital Banking Survey from Accenture, 55% of customers said they want their bank to proactively recom- mend products or services that can help meet their financial needs. The time is upon us for branch reinven- tion. It isn’t sufficient to simply roll out digital products with the hope that your customers will be content. Today’s con- sumer expects an “all-in” approach, mean- ing all services must be equally convenient so they can choose how to do business with you. Your physical strategy must compliment your digital strategy or the vision of the bank may look fragmented. Tellers have long been the face and the image of the bank. Video teller technol- ogy allows that image to be present in a new environment. Unleash your tellers’ potential and allow them to do their part to bring the bank into the future. n For more information, please contact DBE at finsales@ databusinessequipment.com or visit databusinessequip- ment.com\ branchofthefuture. Data Business Equipment, Inc. has been providing technology solutions to the banking industry in the Midwest since 1968. DBE is also the largest reseller of NCR products in the area, including APTRA Interactive Teller.