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Featured in Forbes - Is Traditional Banking Stuck in the Past?
Emily Sweillam : 9/5/13 4:16 PM
In the banking industry, success is a steep uphill climb.
Consider the classic branch service model. Even with heavy competition, many banks and credit unions appear the same: velvet rope lines, tellers safely ensconced behind fortress-like walls without the freedom or know-how to engage with products, and clients relegated to corner offices for anything more complex than a deposit or withdrawal.
The overall experience? Uninspiring.
Not surprisingly, bank branches continue to see a 4 to 5 percent annual decline in walk-in traffic. Their operational costs, however, remain high. To John W. Smith, CEO of Chandler, Ariz.-based DBSI, Inc., these mounting difficulties point to an irrefutable fact: Banking must be redefined. “Banks need different ways to introduce products, engage the public and ultimately deliver a uniquely smarter customer experience.”
Banking Strategists Help Change the Market
DBSI’s retail banking experts have been turning an intriguing hypothetical—What if traditional banking were turned on its head?—into a bold new reality in which customers engage branches like kids in an Apple Store. Touch a kiosk, and start utilizing mobile check deposit on the spot. No time to wait in line? Ask an expert via video conferencing, and problems are addressed in an instant. Thanks to DBSI, these futuristic branches are already operating in markets across the U.S.
Banks and credit unions of all sizes turn to DBSI for consultation, execution and field support at every stage of the branch development process, from strategic planning and building redesign to construction delivery, help in selecting the most suitable technological systems (from among 20+ technologies, all implemented in a uniquely agnostic manner), and long-term support by way of service and branch maintenance.
Thanks to the breadth and caliber of its services—and, more importantly, its client impact—DBSI is fast becoming an industry favorite. In 2012, Inc. magazine ranked DBSI among the top fastest-growing private companies in the nation.
Branches That Perform Better, Cost Less
DBSI’s environment is itself unique. Customers from around the country visit in droves to see and interact with designs and technologies that optimize branch banking. They also learn what doesn’t work so they can avoid replicating bad practices.
According to Smith, DBSI designs its “branches of the future” with very specific success metrics in mind. The physical redesign removes barriers to effective sales and service by creating a more welcoming, streamlined environment; new technologies empower employees to engage clients in more personal, productive and illuminating ways. “There is no one-size-fits-all solution,” Smith says. “For some clients, the strategic intent is capturing the high-net-worth segment; for others, it’s delivering an ‘Apple-like’ environment; and in some cases it’s about strengthening a community connection. These are complex challenges, but we have proven strategies that bring the right answers to life.”
Come experience first-hand all of the latest technologies, innovations, and digital signage changing retail banking. More than 100 financial institutions have already discovered where to start their branch transformation efforts at the Ideation Center, and you can too. Schedule Your Visit Here.