Financial institutions continue on their quest to discover efficient, productive new methods that meet – and hopefully exceed – the high expectations of banking customers. Yet for many, the options are limited. And this reality comes at a time when net interest margins and net income continue to be squeezed, even with interest rates rising.
This poses a particularly vexing challenge as banks seek to offer customers personal service at a branch. They don’t like spending lots of time in the traditional teller line for basic transactions, which also results in high servicing costs. Yet relegating all this interaction to self-service methods reduces or eliminates opportunities to create and deepen relationships.