Hoosier Banker 45 right conversations with the right customers at the right time.” We’re talking far beyond the routine here – toward a key factor in branch optimization – the staff. “It’s not a new idea, but there’s still debate around how do we really do it well,” says Meara. “Universal bankers cost more to acquire, train and compensate, so if we staff branches that way and they’re still processing lots of teller transactions, then that’s a waste of money. The human capital considerations are where banks wrestle with implementing universal bankers.” Clearly, based on the survey results, banks should be heading toward branch optimization with staff and technology. Anticipate my Needs, and Offer Me a Solution CSI’s consumer poll found that 83 percent of Americans want advice from their institutions toward reaching their financial goals. This proportion reached slightly higher, at 87 percent, for those whose household income is $100,000 or higher. This should come as welcomed news to financial institutions, and serve as a call to arms in the race for profitability. “The one area where I see the biggest opportunity from a service and differentiator perspective is the expectations of the customer that the bank proactively offers the right mix of financial products and services,” says Cook. “So many consumers don’t know what they don’t know, so they won’t be coming into branches and asking for some of the services that will help them, not because they are not interested, but because even the customer likely does not know what’s best for them.” Using solutions such as business intelligence and customer relationship management (CRM) software, banking employees can provide proactive recommendations through a real-time view of the customer’s footprint, including relevant transactions and appointments (e.g., mortgage inquiries). Further, personal financial management (PFM) tools help customers track their expenses and progress toward goals, empowering them to manage their budgets and plan long-term objectives. And for younger customers, offering financial tips or classes taught by staff members or other knowledgeable professionals is an opportunity to deeply engage them in a way they prefer. The Tip of the Iceberg Understanding your banking customers is the key to fulfilling their wants and needs. When consumers voice their opinions, bankers should listen intently. To get the full results of our survey, including insight on security, social media and digital payments, download the entire executive report at: go.csiweb.com/ConsumerPoll2018. HB
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