How do banks keep connected to their customers as visits to branches fell by a massive 26% in just a 5 year period¹? Despite a shift to online banking many actively rely on local bank branches for day to day banking. Financial institutions are being forced to rethink how these branches can best serve their customer base. Digital Signage is one of the key tools that the banking industry has utilised to renovate their brands and branches. Using the latest in Digital Signage technology banks can look modern to their customers and not outdated. In this blog I will be looking at three ways that banks are using Digital Signage in branches.

Advertising Displays

Whether for personal or business use customers want to feel a connection with the bank that they entrust their money with. Digital Signage is the best way that banks can advertise their services to customers in branch. It has been said by Forbes that ‘smaller banks are losing their market share to the big players because they are struggling to deliver an end-to-end digital customer experience’². Digital Signage is key to the digital customer experience and we have found that banks love the versatile nature of the Freestanding Digital Posters that can be moved around to best serve their audience. Bigger is better in the banking industry so large size displays such as LCD Video Walls or our Large Format Displays can often be seen in the public areas of bank branches. Bigger screens signify opulence and wealth which is an image that banks subtly want to project to consumers.

Touch Screens

Interactive touch screen displays have been a vital part of banking technology for several years but they may also be able to play an important part in its future. In the past by using ATM and CDM machines with integrated touch screens customers were able to enjoy a fast, user friendly and secure way to withdraw and deposit money. Banks liked the automated nature of these systems and the reduced queues as bank tellers can focus on customers who need more assistance. With the huge shift to online banking touch screens may be able to help bridge the gap between online and in branch banking. Excuse the business jargon but banks can indulge in cross-channel marketing, in simple terms this means that banks provide the same experience across different devices. So the experience of banking using an app should be the same as using a touch screen in store. This kind of familiarity will be a comfort to customers who use both and the true meaning of digital banking. A generation is being brought up using touch screens on smartphones and tablets, these kinds of habits mean the banking industry must evolve to keep up.

Window Displays

High streets up and down the country are dominated with retail stores. Banks are one of the last stalwarts of the high street and while there is lots of discussion about banks closing branches, the ones they keep open become even more important and must improve their marketing. Using Digital Signage window displays like our Ultra High Brightness Monitors allow banks to capitalise on passing foot traffic to advertise services. Many banks already use printed materials in windows but again these just do not compare with digital technology. With the ability to show vibrant images and videos Digital Signage is much more eye catching than traditional signage methods.

The fusion of Digital Signage technology into bank branches is just one part of a large puzzle for modern banks. In an industry that is rapidly changing to keep up with customer expectations advertising displays and touch screens can be that bridge between the online and the in-branch experience.

 

Sources

1. https://www.moneysavingexpert.com/news/2018/05/four-out-of-10-now-use-mobile-banking-apps-while-branch-visits-decline-by-over-a-quarter/
2. https://www.forbes.com/sites/forbescommunicationscouncil/2018/08/16/heres-why-banks-should-invest-in-content-marketing/#4ccea8047be1