Operational Efficiency in Banking
2025 Retail Banking Trends – Report
Top 2025 Retail Banking Trends Learn where to spend—and where to save—for a profitable future. Access Now Rising operational costs. Shifting interest rates. Increased customer churn. These are just three crucial reasons why financial institutions should scrutinize growth and efficiency tactics in 2025. In this trend report, we share six of the top revenue-driving investment areas for the year ahead, across three key areas: acquiring new customers, driving customer loyalty and expansion, and improving productivity. Read Now Key Takeaways 1 To better connect your service systems, start with improving how you guide customers on their preferred channels, no matter where they start their journey. 2 Use a list of data points that all FIs should have on hand to make better strategic decisions about branch locations and staffing. 3 Leverage AI to make manual processes, staff members, and technology projects more efficient – this offers more immediate value. WEBINAR How Can you Plan for Growth in a Year of Big Changes—and Recurring Challenges? Watch as industry leaders Marty vanZwietering, SVP Technology Innovation at M&T Bank, Paula Slagle, Head of ATM, Salesforce and Branch Development at PNC Bank, Katherine Regnier, CEO at Coconut Software and Isabelle Rochon, SVP Customer Experience at Coconut Software dive into 6 key strategies for growth and efficiency. Watch Webinar Now Get Your Copy
TEI Study
Discover the Total Economic Impact™ (TEI) of Coconut Software A net present value (NPV) of $1.69M and 325% return on investment (ROI) three years after implementing Coconut. Those are the results a composite organization experienced in a commissioned comprehensive TEI study, conducted by Forrester Consulting on behalf of Coconut Software. Get your copy of the study to unpack the stories behind the numbers. Access Now Analyze the Numbers 325% ROI (Return on Investment) $1.69M in NPV (Net Present Value) <6 Months payback period <4 Months to implement Explore the Full Study Peek Inside the Study Coconut Software gives banks and credit unions the tools to bring customers and qualified staff together for productive conversations around high-value products. The Forrester TEI study shines a light on why this approach matters more than ever in today’s highly competitive banking environment. Understand key challenges financial institutions faced before implementation. Dig into a robust analysis based on interviews and data from real Coconut customers. Get a framework to evaluate the financial impact of deploying appointment scheduling and queuing software in your organization. Understand what it’s like to work with the Coconut team and the lift required to get the software up and running. Get Your Free TEI Study “[Over the past few years] we’ve seen exponential growth and basically doubled our sales. It’s due to having tools like Coconut for sure, because it allows for time to have deeper conversations.” — Contact Center Manager at a Credit Union “[The Coconut team is] responsive, act like partners, and are not afraid to jump in. It’s been a good partnership, and the software is bullet proof.“ — EVP and Chief Community Banking Officer, Bank “Coconut has allowed our teams to manage increasing traffic flows. It’s given our teams the ability to really manage their day instead of the day managing them.” — AVP Member Experience, Credit Union Your Turn: Calculate the Impact 2.5% increase in new deposit accounts. $294,000 in recaptured productivity. 8.5% increase in pull-through rates for loans. $1,588,568 in additional profit from loans and mortgages sold. These are just a few of the impacts discovered by the composite organization in this TEI study. Ready to dig into how Coconut Software can help your organization increase profits, improve productivity, and enhance experiences? Download your copy today. Access Now Get Your Copy
Evolution of Branches Report
Evolution of Branches Report See how branches continue to play a critical role in building relationships Learn How The latest BAI Banking Outlook tells us, bank customers will use digital channels for 65% of their transactions by 2026. But, the story between the lines is that when they need a high-touch experience, they often turn to a branch. So, when those customers enter a branch or conduct business across channels that might include a branch, the service and product expertise they demand will be scrutinized more than ever. BAI’s Evolution of Banking Branches report dives into the value of branches, how your financial institution should be thinking about the branch as part of their strategy, staffing and more “To ignore the branch is to ignore an important aspect of banking today and, believe it or not, tomorrow.” Key Takeaways 1 There may be fewer physical bank branches these days, but the demands on their services and employees are only greater than ever 2 Unique branch experiences will differentiate the market 3 Transform your people before you transform your branches Read Report Now “What digital channels don’t do very well, and what branches do well, is problem resolution. Banks should make sure that each channel is designed for the functions that they do best to maximize the effectiveness of each channel—rather than try to make every channel do the same thing in the same way.” — Rolland Johanssen, Capital Performance Group WEBINAR Why Is Personal Connection The Best Retention Strategy In Banking? Watch as Alyson Clarke, Principal Analyst at Forrester, Aaron Young, SVP Retail Operations at CU SoCal and Coconut Software’s VP Product Eric Bin dive into one of the most overlooked tools to improve retention—building relationships (and the role the branch plays). Watch Webinar Now
How to Replace Your Appointment Scheduler
How to Replace Your Appointment Scheduling Software in 8 Easy Steps A thorough guide for banks and credit unions considering a switch to Coconut There are two things to know about replacing your appointment scheduling software: You stand to gain more efficiency, more high-value appointments, and happier staff from switching out an appointment scheduler that’s not working for your financial institution. Implementing a new tool may seem daunting at first—but it’s manageable when you partner with the right team who can guide you every step of the way. Coconut has more than a decade of experience working with financial institutions (including helping them migrate from previous systems), and we’ll hold your hand every step of the way. Before you jump into the process, this guide will describe it for you in detail. By the time you finish reading, you’ll understand how to seamlessly and easily make the switch. What’s Inside
Friction Grader
QUIZ: FRICTION GRADER Is Your Customer Journey Smooth Sailing Or Choppy Waters? Take the Quiz For your customers and members, getting financial advice can feel like navigating a vast ocean. The right experience, however, can feel like catching a tailwind—a helpful gust of wind that effortlessly advances them forward. But if your experience is rife with friction, your customers might feel like they’re hitting a headwind—that is, wind blowing in the opposite direction and slowing them down. So how do you make sure you’re helping—and not inadvertently hindering—your customers? The answer lies in a carefully crafted balance of digital and physical channels that meet customers wherever they are. But first, you must understand where your main points of friction are so you can effectively tackle them. Answer these 17 questions to get your friction score—then we’ll give you personalized recommendations to improve your customer experience. Get Started
Appointment Growth Academy
Free Course: Appointment Growth Academy 🎓 Transform your meeting experience and turn appointments into a revenue driver—in just six weeks. Sign-Up Below Most financial institutions have an appointment funnel that is like a leaky bucket: it causes customers, members, and staff to miss connections, forget follow-ups, book less meetings, and lose out on potential revenue opportunities. Want to get more out of client facetime and turn appointments into a major growth driver for your institution? Sign up for our free six-week email course, Appointment Growth Academy. Each week, you’ll get a lesson in appointment process excellence and a small assignment to help you transform the meeting experience at your bank or credit union. Complete the form to your right, to get the first lesson sent to you instantly 🥥 Sign-Up Now 🥥
Using 1:1 Connections To Unlock Growth for Financial Institutions
Benchmark Report Using 1:1 Connections To Unlock Growth for Financial Institutions Access Now Building a long-term digital transformation strategy still matters. But how easy or difficult it is for clients to find, meet, and consult with your financial experts today will significantly impact your institutional growth tomorrow. Yet, it’s one of the least valued, least examined, and least optimized processes at most FIs. Discover how clients interact with their bank or credit union for high-value financial products and services (like mortgages, loans, wealth management, etc.) This report covers performance benchmarks, key trends, and data-backed insights financial institutions should know about their appointment experience (both in-person and online)—and how it impacts client satisfaction, staff performance, and their growth outlook for the year ahead. Early Benchmarking Trends Preview 85% Of financial institutions handle 75 appointments or more per month at each branch. 89% Of financial institutions have dedicated appointment and queuing software. 49% Of operations and experience staff ‘Somewhat Satisfied’ with jo Watch the Benchmark Report Preview Listen to Aaron Young, SVP Branch Operations/Retail Banking at CU SoCal and Christine Matu, VP Product Marketing at Coconut Software as they discuss: In-depth benchmarks to measure their bank or credit union’s performance against How top-tier institutions create a best-in-class experience—both online and off Key technology investments that have an impact on client and staff satisfaction The top trends expected to impact industry growth and competition in the year ahead https://www.coconutsoftware.com/wp-content/uploads/2023/05/TrendReportWebinar.mp4 ACCESS NOW 🥥 Unlock appointment experience benchmarks all financial institutions need to know about and see how your financial institution stacks up 🥥
Banking Analytics Guide: 32 Metrics for CX Leaders
Digital Guide Banking Analytics Guide: 32 Metrics for CX Leaders A three-step process for building a data foundation, maturing your analytics strategy, and making predictions at your financial institution. What’s Inside: Interaction Data: The Key to Unlocking Customer and Member Delight Phase 1: Build a Data Collection Foundation Phase 2. Set Up Banking Analytics to Measure Continuously Phase 3. Start Making Forecasts Telling Better Stories Leads to Better Experiences Interaction Data: The Key to Unlocking Customer and Member Delight Today it feels like every financial publication is saying some version of “data analytics in banking matters.” But rarely do they explain precisely how institutions are supposed to track it, measure it, and use it to improve the customer or member experience. Nor do they pay attention to the interaction points that are still the lifeblood of most institutions: appointments and walk-ins. We set out to change that in this practical, step-by-step guide. We share how to get a clearer picture of how customers and members interact with staff across online and offline channels in three stages. First, we cover how to gather your data. Second, we share how to set up banking analytics tracking and what metrics to measure. Third and finally, we’ll talk about using all that historical data to forecast things like traffic, staffing needs, and whether to make big decisions to redesign a branch. By the end, you’ll be making decisions with data and combining multiple data types to craft a better customer and member experience. For example, before, you may have known people waited an average of nine minutes in-branch. But did you know how they were feeling about the wait? What if to them, it feels short, and doesn’t need fixing? When you have a data foundation as outlined in this guide, you’ll know the answer. And you’ll know answers to lots of other questions that tell your institution where your time is best spent improving customer and member engagement. Phase 1: Build a Data Collection Foundation Whenever you want to analyze something—be it shells on a beach or typical loan applicant backgrounds—you start by counting. That’s where we’ll begin this guide—picking the data types you want to track to count things. For many banks and credit unions, the most valuable data still only exists in people’s heads, isn’t being collected, or there’s no formalized process for reviewing it. But until you start tracking a few metrics regularly, you can’t start answering questions or taking thoughtful, calculated actions to improve them. In this first section, we look at three common data categories. Then we share seven places to find that data. And finally, we’ll guide you through building a spreadsheet to start tracking it. You may be in this phase if one or more of these apply: Don’t yet know what questions to ask Are unsure what data is being collected Don’t have clear performance baselines Don’t have a formal process for reviewing data and acting on insights 1. For the Full Story, Categorize Data by Clients, Staff, and Product If you want to understand how clients interact with your institution, there are three sides to that story—the client’s take, the staff member’s take, and what happened in your client application or channel. Gather all three separately to understand how they influence one another. Here are three ways to organize your data. You can combine multiple data types to reveal insights. For instance, looking at both quantitative and qualitative client data would help you answer one of the questions we asked earlier: If you know your average wait is nine minutes, is that good or bad? With several data types, the story becomes clear (see right). When you layer in staff data, the story takes on a new dimension. Let’s say average handling times are on the higher end for a transactional service—but your staff say they feel rushed. What is happening at that branch? That’s a data story to investigate (see right). 2. To Really Understand Your Growth, Tag Data by Type Consider this puzzle: How would you know if one loan officer has a higher close rate than another? Or if one advisor was far more effective than others at bundling products? Unless you track interactions, products, and transactions separately, you wouldn’t know. Interactions are any interaction between a client and your digital properties or staff. This includes things like phone calls, walk-ins, app logins, and more. Products and services are the things clients say they’re interested in, like loans, mortgages, checking accounts, financial health checks, wealth management, etc. Outcomes are the products clients actually end up buying. These are the building blocks of understanding a customer or member’s journey. And it’s only by tagging these three types that you’re able to answer questions like: Did someone who interacted actually sign up? Did they discuss multiple products, but only sign up for one? Did an interaction with your staff get them to add more products? How many interactions or touch points were required for a successful outcome? Did a client decide not to move forward with a product? Did a series of interactions end in a purchase? Otherwise, if you only know the outcomes, you won’t know the journey that led there, and you’ll have a lot fewer data stories to tell. Now, the next question is, where do you get real data, and start to do this for yourself? We cover that next. 3. Gather Your Data From Systems and Surveys If you want to understand how clients interact with your institution, there are three sides to that story—the client’s take, the staff member’s take, and what happened in your client application or channel. Gather all three separately to understand how they influence one another. 7 Common (and Useful) Banking Analytics Data Sources 1. Appointment and Queuing Platform An appointment and queue platform can tell you what services people requested, what location they booked at, whether they showed up, who they met, how long they waited, how often they rebooked, what the next steps were, and more. Shows
Banking Customer Experience Trends + Examples for 2023
Digital Guide 16 Examples of Exceptional Banking Experiences Inspiring banking customer experiences for financial institutions to emulate. What’s Inside: Why The Best Banking Experiences Are Simple Trend #1: Streamlining the In-Branch Experience Trend #2: Uniting Online and Offline Trend #3: Offering A Mix of Flexible Services Trend #4: Communicating How You Help Clearly Great Customer Experiences Are Client-Led Featuring the voices of: Jared Jones Director of Sales, DBSI James White Industry Principal for Banking and Credit Unions, Total Expert Chad Rogers EVP and COO of Connexus CU Olga Zakharenkava VP of Product Management, Doxim Why The Best Banking Experiences Are Simple These past two years, banks and credit unions have been inundated with new technology. Banking tech has become a $500 billion industry, and a startling number of vendors advertise some sort of advanced “AI.” But do your customers and members need you to be deploying more technology and AI to keep them engaged? What if the way to your clients’ hearts was a lot simpler? What if what they needed was for financial institutions to do a really good job at the simple but satisfying banking basics, like opening an account or talking to a human? We studied recent banking customer experience (CX) reports from Forrester, Gartner, J.D. Power, BAI, and West Monroe to find out. The conclusion: Simple is not only satisfying for clients, but it’s also affordable for you. In this section, we share four ways you can upgrade your in-branch experience. Trend 1 Streamlining the In-Branch Experience Imagine you arrive at a beachfront hotel and there’s nobody at the desk to help you. You wait, and wait, and wait. That hotel group’s big investments in advanced AI customer experience tools are all forfeited in that one poor interaction. But what if that hotel had instead invested in technology to greet you? What if a check-in iPad took your name and printed your room key? That’s the difference between investing in your back office versus your branches. Operations executives tend to think about the big picture, future things—but customers and members tend to judge the experience based on the little things, like how long they waited and whether the greeter’s smile felt genuine. You can apply software to those branch interactions and make a big impact on your overall experience. 1. Redesign Parts of Your Branches to Feel More Welcoming Banks and credit unions that get high marks in Forrester’s research on CX tend to have branches that feel welcoming. And that same report encourages banks and credit unions to start their CX thinking not with the website but with the welcome mat. Bright signage and a genuine greeting can go a long way. But so does crafting what’s called a “zero wait” environment where clients can sign in on their own via tablet kiosks. This adds them to a central queue and tells them how long the wait is, and also presents options, such as booking a future appointment. If a visitor’s request is simple, perhaps the kiosk can direct them to the app on their phone, or initiate an instant video call with an associate at another branch. A redesign can also include physical changes like: Adding lighting Shifting the floor transitions Installing colored carpeting to guide visitors Removing stanchions Removing bulletproof glass Removing the counter Adding “flex desks” and call booths According to experts, your redesign will incorporate not just one change, but many, and you’ll need to know what you’re hoping to achieve. “A great experience is not just one thing,” says Jared Jones, Director of Sales at DBSI, a firm that designs branch experiences. “It’s not just having an open concept. It’s not just investing in cash automation. It’s not just digital signage. It’s thinking about how a combination of those things can convey the feeling of being welcoming and guide customers where they need to go.” EXAMPLE Lone Star Credit Union Replaces Lines with Universal Associates Lone Star’s team wanted to let members handle more transactions on their own, to free up associates to be better advisors. This led them to tear down their counter and eliminate the concept of waiting in line. Now, if you visit a branch, you’ll see that members know to use self-service stations or, if they need more help, walk over to a series of welcoming “flex offices” where roaming associates take meetings. 2. Let Clients Skip the Wait (With Appointments) Customers and members can instantly schedule appointments for haircuts, workouts, and doctor visits—so why not with their bank? Appointments save time, allow clients to plan ahead, and be seen right away when they arrive. And appointment reminder emails help them come prepared with the right documents or ID. On the backend, appointments create a great experience for staff, which improves the customer experience even further. Staff come prepared to each meeting and don’t need to start by asking for as much background information. This often means appointments are faster and things are less rushed. Appointment booking also generates useful data about capacity and staffing, so branches aren’t understaffed—which helps keeps lines shorter, too. EXAMPLE Rogue CU Reduces Lineups While Nearly Doubling Appointments Before implementing friendlier technology to let members schedule appointments, Rogue CU had members walking out of its branches every day because of the wait. After the switch, the wait times dropped, staff received lots of positive feedback, and it saved many people from having to drive in—30% of people thereafter choose to take their appointment over the phone. 3. Create a Service Fast Lane For simple transactions, like reordering credit cards or checks, consider offering a dedicated in-branch window or phone line with next to no wait (similar to an express checkout line in a grocery store). They key to making this flow in-branch is to use a queuing system that allows clients to identify which kind of service they need before entering a line. (A helpful greeter can also direct them in lieu of technology.) Fast lanes can help improve the customer or member experience because clients
The Appointment Growth Guidebook
Digital Guide The Appointment Scheduling Growth Guidebook 31 ways to create a five-star appointment experience that drives retention, revenue, and growth at your financial institution. What’s Inside: Appointments: A Hidden Growth-Driver for Banks and Credit Unions Step 1: Improve Appointment Efficiency Step 2: Improve Appointment Quality Step 3: Increase Appointment Volume Unlocking the Real Value of Appointments Appointments: A Hidden Growth Driver for Banks and Credit Unions “If your organization isn’t offering self-service appointments, open your phone and see how many of your personal contacts you can book with directly—from your salon to dentist or vet–booking appointments for yourself is a standard at this point. To encourage usage, we’ve placed appointment links throughout our website and online/mobile banking.” Kristina Smith, AVP of Retail Administration at UMassFive FCU The most underrated (and underdeveloped) area of most banks and credit unions is their process for meeting with clients, in-person or virtually. Lots of institutions have rushed to improve their digital presence and upgrade their back-office systems. But they haven’t applied the same level of care to how they allow people to make and take appointments—and there’s a wealth of value to be gained from that facetime. Facetime shows you care. Plus, it gives your agents a chance to consult, uncover opportunities, and be helpful—in a way that email or web chat can’t. That’s why it’s advantageous to turn recurring touch points into pre-booked appointments and have staff proactively reach out to set meetings. Because more meetings lead to more revenue and higher retention. But before you start pushing for more appointments, you need an efficient way to book and route those meetings. You also need a way to maintain meeting quality for both clients and staff. And that’s where this appointment strategy guide comes in. In this resource, we’ll share how to build a strong appointments program in three phases: Set up appointments so they’re efficient for your team Ensure they’re high quality for clients Drive more appointments so you can unlock their value Step 1 Improve Appointment Efficiency Booking appointments with most banks or credit unions today is inefficient and not a fun process, for customers, members, or staff. To book a meeting, clients probably have to call in and wait on hold. Or, visit the branch to wait in line only to be told they’ll have to return to see a specialist. Appointments take work, and clients may not even know it’s an option. Staff also probably lack a consistent way of booking meetings, since many institutions still rely on a big messy spreadsheet to track when people are available. They also don’t have a clear process for helping clients prep for meetings (so they bring the right documents), send appointment reminders (which reduces no-show rates), or complete follow-up tasks from meetings. The result is that appointments could be useful, but aren’t. They don’t make your team more efficient. But if you fix your process, you can turn appointments into a competitive advantage, and get a lot more valuable facetime without more effort or staffing needs. 10 Crucial Tips to Improve Appointment Efficiency 1. Implement a digital, self-serve appointment booking solution. Set things up so clients can book an appointment online to save time. Staff can use the same system to book on each other’s calendars, too. This makes things more efficient in a number of ways: Clients can instantly book when and where its convenient for them, 24/7 It offers multiple meeting formats (in-person vs. virtual) Team members can see other’s calendars, saving time on back and forth Advisors can proactively share a booking link with customers Clients automatically get reminders before their appointment Some tools save transcripts and record activities in your CRM 2. Add a self-serve appointment booking button to your website, app, and more. Let everyone know you’re now accepting (and prioritizing) appointments. Consider adding an appointment booking button to your: Website top navigation bar, next to the “login” button “Find a location” page Support page In-app help center Staff email signatures In-branch self-sign-in kiosks Branch front door, via a QR code More ideas 3. Use custom booking links and shortcuts. Save clients even more time with custom booking links. They allow you to create specific appointment scheduling links for a campaign, a team, or an individual, to save clients those extra clicks. For example, if running a new campaign about your low loan rates, you can include a link that allows people to book directly with a loan specialist. Learn how appointment scheduling software works in our Buyer’s Guide. 4. Offer multiple ways to meet—in-person, by phone, and by video. To clients, there’s no longer a clear distinction between online and offline. A meeting is a meeting, whether via video or at a branch. Different people have different preferences and those preferences can shift. The easiest approach is to let them choose: Meet in-person Schedule a phone call Schedule a video call (An all-in-one appointment scheduling tool can offer all these options. Alternatively, you could use several tools, and hook them up so they speak to one another.) 5. Add a few extra required questions so you can route them better. Set things up so when someone books an appointment, they tell you why they’re hoping to meet. This helps you properly route them, and steer them away from booking an appointment for something they can handle today within the app. Ideally, your appointment tool will allow you to use a mixture of menus and drop-downs so someone seeking an appointment can indicate their: Desired location Desired service Reason Level of urgency 6. Use appointment data to show when branches are busy. When your branches accept appointments via an appointment and queuing tool, it generates data that you don’t necessarily have with walk-ins. For example, when Arvest Bank launched an appointments feature during the pandemic, they suddenly had insight into 47,500 meetings. For the first time, they could estimate how busy branches would be. You can use this data on your website, in your app, and on Google, if you’re
Rollout Kit for Appointments and Queuing Software
Digital Guide Rollout Kit for Appointments and Queuing Software A roadmap for successfully introducing scheduling software at your institution. What’s Inside The Eight Steps of a Successful Rollout Best Practices and Things to Know Before You Begin Helpful Checklists, Templates, and Launch Resources Which Software Should You Buy? 💻 👀 Read: Picking Appointment and Queue Software for Financial Institutions Implementing appointment and queue management software is your first step toward improving the client and staff experience. But purchasing this new software isn’t the end of your journey—it’s the beginning. How that tool gets implemented (and how your software partner helps you) is critical to its success. That’s why it’s so important to know what’s coming, to be prepared, and to gather your data early. To make the rollout even easier, the pros here at Coconut (who’ve helped 150+ institutions launch solutions) have created this handy launch kit, full of advice, checklists, and a roadmap for making your launch a success. The Eight Steps of a Successful Rollout The real work of the rollout begins before you even buy. It starts when you evaluate different partners and ask what sort of support they’ll provide. For example, do you get a rollout manager? In-the-weeds assistance with your data migration? An implementation team that actually has experience working with banks and credit unions? You’ll recognize a great partner right away: They’ll have a long list of financial institution customers and their representatives will be familiar with the regulations you fall under. In contrast, generalist appointment software companies may think “Jack Henry” and “Dodd-Frank” are … people on your team. And that may make the rollout difficult. Once begun, the rollout process typically follows eight steps: Step 1: Project Kickoff To get started, your two teams will meet several times to discuss what’s to come. From your team, you’ll likely want to designate one “point person,” who’ll play project manager. Perhaps that’s someone from the experience or operations department, or if you have one, an implementation manager. That person will bring in all the others from IT/security, lending, and retail as needed. If a complex integration is in order, there’ll probably be a separate meeting between your IT teams to talk tech and data. During kickoff, you’ll set and assign mutual: Objectives—ex: get 15% of clients to try it by May Scope—roll out everything at once, or in phases Milestones—the eight steps outlined below Measurement—timing, usage, satisfaction, etc. Responsibilities—consider using the RACI model A good implementation partner will provide you a process to follow, with tasks for every step of the way. For ease, they’ll probably manage that in a project management tool, such as Asana. But if your organization isn’t allowed to use third-party tools, you can use a shared spreadsheet. It’s always a good idea to “over-communicate” during kickoff. Tell your software partner everything, even if you think it’s obvious. Otherwise, you may leave the meeting with differing ideas of what “a good experience” or “get it done quickly” mean. STEP 2: Design, Configure, and Test In this phase, you’ll receive your software login and start customizing things. You’ll want to brand the tool so it looks like your own, and doing so should be straightforward. Update your institution’s: Logo Favicon Colors Header graphic Email messages Next up is the data and integrations. Even if a partner has worked with hundreds of financial institutions, yours will likely be unique in some ways. Your technical teams will need to check all the boxes together to ensure the right data makes it into the new system. To do this: Gather the pertinent data in a spreadsheetLocations (hours, addresses)Services and service categories (financial advice, loans, mortgages)Staff (names, departments, roles, permissions, contact info) Transfer the dataUpload that spreadsheet to the new system Connect any necessary systemsFor example, Microsoft Active Directory, your single sign-on (SSO) provider, or a video call tool Decide on global settingsThis includes notifications, client views, and booking policies Purchase and configure any necessary hardwareThis may include tablets, TVs, headsets, HD cameras, and more Once the software or hardware is set up, test, test, and test again. It’s important those tests be realistic, and involve actual users. Otherwise, people will find the bugs during launch, and that’ll slow things down. STEP 3: Train and Prepare Train your administrators first. They’ll need to learn the system well enough to act like owners. Teach them how to manage the tool as each different user: agents, managers, contact center representatives, lobby managers, and of course, system administrators. Next, train a small group of team leads who are eager to participate. These folks will be the easiest people to train, and they can then teach it to their respective teams. (E.g. “Alright everyone, here’s how I’ve been using this to get more meetings.”) A few ideas for effective training: Customize your materials—If your institution already has its own learning process, convert the partner’s materials to your own. It’ll be less disruptive. Tailor the training to the role—Not everyone needs to know everything. At least not right away. Better to get them started, and let them develop their own questions. Set up an appointment incentive program—Reward staff with bonuses, days off, or redeemable points to make the learning more rewarding. Create an internal “playbook” or FAQ—Have those team leads write the guide, and add to it as questions arise. Training Approach Guide General Staff Training Topics:General System Walkthrough Attendees:Managers, Staff, & Receptionists Length:45 minutes, recorded15 minutes buffer for Q&A Manager Only Training Topics:Managing Staff & Reporting Attendees:Branch Managers Length:15 minutes, recorded15 minutes buffer for Q&A Call Center Training Topics:Appointment Booking Tool Attendees:Contact Center & Receptionists Length:15 minutes, recorded15 minutes buffer for Q&A Queue/Lobby Training Topics:Managing Staff & Reporting Attendees:Managers, Staff & Receptionists Length: 15 minutes, recorded15 minutes buffer for Q&A STEP 4: Launch and Marketing Depending on your rollout’s complexity, getting here could have taken three weeks to two months. You now have a choice: Do you launch the program one business unit at a time, or all at once? Both have pros and cons.
Buyer’s Guide to Appointment & Queue Software
FREE DIGITAL GUIDE Appointment and Queue Management Software for Banks and Credit Unions In this thorough overview, learn the top appointment solutions and their features, as well as how to pick the best technology partner for your bank or credit union. Download Now About Today, customers and members want to choose their own path. And they expect a great experience—whether in-branch or online. That’s where self-serve appointments and digital queue management software can help. They direct clients to the right person, at the right time, on the right channel. They also make frontline staff more efficient, so whenever and wherever customers or members show up, they’re ready to make it a great interaction from minute-one. But with all of the options out there, which one should you choose? Coconut Software’s Buyer’s Guide is here to assist you in answering that important question. Download Now Keep reading to see a sneak peek of our powerful Buyer’s Guide Below, preview the guide that’s helped financial services teams drive internal alignment, and successfully integrate appointment scheduling and queue management software into their existing tech stack. Or, download the full guide now to learn what a bank by appointment platform can do for your financial institution, smart questions to ask, and how to build a business case for the one you want. Or, download the full guide now to learn what a bank by appointment platform can do for your financial institution, smart questions to ask, and how to build a business case for the one you want. Appointment and queue management software: The basics to know before buying THE WHAT What is appointment scheduling software? Bank scheduling and queue management software lets people proactively book appointments and have more choice in the queuing process. Customers and employees can book from any internet-connected device—including a tablet in your lobby. It’s a much smarter way to manage in-branch and virtual queues together. This software also offers branch data and analytics that drive efficiency and CX scores. THE WHY How does scheduling software help financial institutions? This software helps improve your customer or member experience scores (think CSAT and NPS), makes staff more efficient and organized before meetings, provides data-backed insights into appointment type and branch traffic, and creates more opportunities to grow relationships and capture high-value interactions. THE HOW Why should financial institutions consider buying appointment scheduling software? In a nutshell, this powerful software helps banks and credit unions improve the overall customer and member experience and meet the demands of an increasingly multichannel world. It also helps increase operational efficiency, collect better data to make better staffing decisions, and drive more growth and retention across all lines of business. First, the basics. Now, the Buyer’s Guide. Now that you know the basics, it’s time to launch into a full scope and strategy around integrating this important solution into your financial institution. Download the full Buyer’s Guide now to learn what a bank-by-appointment platform can do for your financial institution, smart questions to ask, and how to build a business case for the one you want. Download Now What’s Inside What is bank appointment and queue management software? How does bank scheduling software help financial institutions? What are the top features to look for in a platform? What other factors should you use to evaluate vendors? How can you build a business case for bank scheduling software? Download Now
Video Banking Guide
Digital Guide The Video Banking Playbook A step-by-step recipe for video appointment success for financial institutions. What’s Inside: Why Video Appointments and Financial Conversations Are a Perfect Pairing Step 1. Use Cases: Deciding on Your Video Appointment Menu Step 2. Buy-in: Getting Stakeholders to Drink From the Same Cup Step 3. Technology: Choosing the Right Mix of Tools Step 4. Rollout: Serving Up a Smooth Implementation Step 5. Measurement: Poring Over the Right Data Why Video Appointments and Financial Conversations Are a Perfect Pairing “In member surveys, people were telling us, ‘I meet with my doctor by video now, why can’t I meet with my advisor [that way]?’” Chrystal Czank, Member Experience Lead, Affinity Credit Union During the pandemic, 50% of all financial institutions’ customer activities switched to digital. And research shows they’re unlikely to switch back—especially from technologies like video. (Source.) In fact, 46% of customers will continue talking to advisors over video when branches reopen. Thirty-six percent say video calls are their preferred medium post-pandemic, and 32% say they’ll continue to avoid branches altogether. But wait—does this mean everything is online only? Hardly. Branches still have a big role to play: Twenty-five percent of customers identify as “phygital”—meaning they want to hop back and forth between the two for services. What clients really crave is the convenience of being able to choose. Luckily, video can help in all scenarios, whether in-branch or at home. It allows you to accommodate everyone, lets your specialists be everywhere at once, and enhances the client experience. In this guide, we’ll walk you through building and executing a video banking strategy—from buy-in to rollout—that makes sense for your engagement and growth goals. What is Video Banking? Customers and members can book virtual appointments with your staff via a video call tool and join using a computer, phone, or in-branch iPad. It allows customers or staff to take the call from anywhere, but feels like meeting face-to-face. STEP 1 Why Video Appointments and Financial Conversations Are a Perfect Pairing To start building your strategy, you need to know what you can use video appointments for and which method makes the most sense for your institution. Meet the Three Video Appointment Formats: In-Branch, Hybrid, and Remote Video appointments aren’t just for virtual calls. They can also be used in-branch, and across any number of devices. Each format is useful for different situations. 1. In-branch: Dedicated Video Call Booths 2. Hybrid: Employees Onsite, Customers or Members Are Remote 3. Remote: Everyone Meets Virtually 1. In-branch: Dedicated Video Call Booths Picture a miniature conference room with great lighting and sound, and privacy-safe glass so nobody walking by can peer in. Customers or members can visit one of these at a local branch, where they connect with a specialist anywhere. This saves them a potentially long drive to meet that specialist or a long wait for the specialist to be at their local branch. Within the booth, everything is adjusted to ensure privacy, professionalism, good audio, and strong internet. Members or staff can reserve these booths online ahead of time. WHAT YOU’LL NEED: In-branch call booths with monitors and video appointment booking software. Alternatively, small conference rooms may work. You may also want e-signature and identity verification software. 👍 ADVANTAGES Saves members from having to travel or wait for a specialist Your specialists can “be everywhere” Specialists are freer to plan their day Privacy Consistent, professional setting Verify people’s identity with a scanner Members can get support for video calls if they aren’t tech savvy 👎 DISADVANTAGES Requires several 6×6’or 8×8’ spaces People must visit the branch Maintenance and cleaning Upfront investment in technology and hardware 2. Hybrid: Employees Onsite, Customers or Members Are Remote Hybrid is when your staff is in-branch or at a call center, meeting with a customer or member who’s calling in remotely. This allows your customers ultimate freedom—they can call in from home, their car, or their workplace. Unlike members, your in-branch staff probably doesn’t need their own video booths. You might allow them to take calls at their desk, or set up their laptop at a dedicated cubicle. To verify customers’ identities, agents will likely need to ask questions or ask members to hold up their government ID to the camera. To skip that step, you could require customers to log into video calls using a single sign-on (SSO) integration with your core banking system. WHAT YOU’LL NEED: Employee video call booths or terminals, video appointment booking software, call center headsets, HD cameras, branded digital backgrounds, and possibly e-signature and identity verification software. 👍 ADVANTAGES Customers can call in from anywhere May offer a personal view into clients’ lives Your specialists can “be everywhere” and travel less to other branches Specialists may be able to meet more clients and better plan their day More personal than phone calls or text 👎 DISADVANTAGES Employees must still commute to work Noise could be an issue Potentially harder to confirm identities Difficult to control the caller’s experience (their home internet, video, etc.) 3. Remote: Everyone Meets Virtually With fully remote video appointments, customers can be anywhere, and agents can be nearly anywhere. We say nearly because public spaces with lots of noise such as a cafe aren’t suitable. They’ll come across as unprofessional, and strangers can listen in. It’s best to be very prescriptive with agents about when and where they can take video calls, how they should dress, and whether they should use a branded digital background. WHAT YOU’LL NEED: Laptops, video appointment booking software, call center headsets, HD cameras, and branded digital backgrounds. Possibly e-signature and identity verification software. 👍 ADVANTAGES Freedom of mobility and convenience for clients and staff May offer a personal view into clients’ lives Supports “work from anywhere” Able to launch a fully virtual branch, reducing costs Can meet remote members who don’t live near branches Offer services in territories where you have no physical presence 👎 DISADVANTAGES Requires employee training on best practices and new tools May require employees to navigate or use multiple apps or systems
Transforming CX in Financial Services
CONSUMER REPORT How to Maintain a Human Touch While Deploying New Customer-Facing Technologies Access Now Financial institutions need to strike a fine balance between leaning into technologies that can provide better, faster service to customers versus maintaining a human touch where needed. This report explores how financial institutions can retain the human touch that is so important in their consumer interactions while leveraging the latest customer-facing technologies.