Tag: Best Practices

Branches Aren’t Dead. They’re Your Bank’s Most Powerful Growth Engine.

In a nutshell 🥥 Let’s flash back to a few years ago. The “Branch is no more!” narrative was overwhelming financial news channels and industry feeds. Physical branches were thought to be set to fade as digital banking surged. But now, in 2026, the data is telling us a different story. According to Coconut Software’s Retail Banking Trends Report, 47% of financial institutions are transforming their branches into advisory-centric hubs, signaling a major shift in how banks capture trust, revenue, and long-term relationships. Why Branch Transformation Matters Now in 2026 Digital adoption has accelerated, but trust hasn’t necessarily followed. Customers still crave human expertise, especially when making high-value financial decisions like mortgages, wealth planning, or business loans. While routine transactions move online, branches are becoming centers for guidance, advice, and complex decision-making. Banks that focus on branch transformation aren’t just thinking about foot traffic—they’re thinking about converting every visit into lasting value. Every in-branch interaction is an opportunity to: Strengthen trust Increase product penetration Boost lifetime customer value In other words, branches aren’t just transaction points anymore—they’re revenue engines. From Transactions to Trusted Advice The report shows a clear evolution: Then Now Branches focused on volume and routine transactions Branches focus on complex, high-value advisory conversations Staff handled administrative tasks and low-touch interactions Staff are empowered to deliver meaningful guidance and deep customer insights Growth driven by product offerings Growth driven by interactions, relationships, and trust Operational efficiency plays a key role here. By freeing staff from administrative work and equipping them with the right tools—like dynamic scheduling, smart lobby management, and Meet on Demand triggers—banks can ensure every customer meets the right advisor at the right moment, turning potential wait time into a growth opportunity. The Human Advantage Even as AI and digital tools accelerate service, humans remain the ultimate differentiator in advisory-led branches. Technology supports staff, but it’s the empathy, judgment, and context that advisors bring that drives revenue and loyalty. In 2026, the most successful banks will be those that combine: Smart technology to streamline operations Staff empowerment to enhance advisory conversations Data-driven insights to anticipate customer needs The takeaway is clear: branches matter more than ever—but only if they’re optimized for advisory, not just transactions. Your Next Steps To stay ahead in 2026, banks need to audit their branch strategy and answer questions like: Are branches designed for high-value, trust-driven conversations? Are staff empowered and equipped to convert visits into measurable growth? Do operational systems support seamless interactions rather than create friction? The answers could define your institution’s competitive advantage. Want the full picture? Coconut Software’s 2026 Retail Banking Trends Report dives into six transformative trends, including branch reinvention, workforce resilience, AI-human collaboration, and capturing the next-generation wealth transfer. Each trend comes with practical actions, metrics to measure success, and insights from leading banks. Download the full report now to see how your branch network can become your most powerful driver of trust, revenue, and customer loyalty in 2026. Frequently Asked Questions: Branch & Banking Trends for 2026 How is AI in banking changing the role of branch staff? AI in banking is increasingly being used to support (…not replace…) human advisors. Leading institutions are deploying AI to surface customer insights, prepare advisors for meetings, and reduce administrative work, allowing staff to focus on empathy, judgment, and relationship-building. In 2026, the most successful AI strategies are human-augmented, not fully automated. What does omnichannel banking really mean for customers today? Omnichannel banking means customers can move seamlessly between digital, video, and in-branch interactions without repeating themselves. Whether starting an inquiry online, continuing it through video banking, or finishing it in a branch, context and intent should follow the customer. This continuity is now essential for trust, loyalty, and retention. Why is video banking becoming more important for financial institutions? Video banking extends advisory capacity beyond physical branches, helping banks serve more customers without sacrificing human connection. It enables faster access to experts, supports hybrid banking models, and helps institutions manage peak demand while improving convenience and reach—especially for high-value or complex financial conversations. How does operational efficiency in banking impact customer experience? Operational efficiency in banking directly affects wait times, service quality, and staff readiness. When systems are fragmented or staffing doesn’t match demand, both employees and customers feel the strain. Banks that streamline workflows and use data to align resources are better positioned to deliver faster service, stronger CSAT metrics for banks, and higher conversion rates. What role do branches play in deposit growth, account opening growth, and loan growth? Branches are evolving from transaction centers into advisory hubs. High-value, trust-based conversations (often happening in person or via scheduled appointments) are key drivers of deposit growth, helping banks grow account openings and loan growth. The branch experience remains critical for major financial decisions where confidence and guidance matter most. Why is bank queue management becoming a strategic priority for FIs? Queue management is no longer just about reducing wait times—it’s about protecting trust and maximizing value from every visit. Smarter queue management helps banks route customers to the right advisor, reduce idle time, and turn walk-ins into meaningful advisory interactions, especially during peak periods. How do hybrid banking models prepare banks for the Great Wealth Transfer? Hybrid banking models (by that, we mean combining digital convenience with human advisory) are essential as the Great Wealth Transfer accelerates. Millennials and Gen Z expect seamless technology paired with personalized, values-driven advice. Banks that deliver consistent hybrid experiences are better positioned to build trust, retain assets, and grow long-term relationships across generations. About Us Coconut Software is the leading solution for banks and credit unions seeking to boost operational efficiency, deposit growth, loan growth, cross-channel seamlessness, and competitive CSAT and NPS scores. For over a decade, we have been the market leader in bank appointment scheduling software, branch data and analytics, lobby and queue management, and video banking, helping our customers achieve increased CSAT, bigger ROI, and growth across all lines of business. Get in touch with us

How to Identify Friction in Your Bank’s Appointment Completion Flow

In a nutshell 🥥 Friction in your bank’s appointment completion flow kills conversions—customers book but never show, or worse, abandon mid-process. The appointment management process covers every step from a customer deciding to book through to the actual meeting and post-appointment follow-up. The fastest way to identify friction is to map the customer journey end-to-end, layer real analytics on top (drop-offs, wait times, no shows), and then validate with customer and staff feedback. Banks and credit unions should pay special attention to three hotspots: scheduling (online and contact center), day-of experience (lobby/queue), and follow-up (next-best appointment or task). Using a platform that combines appointment scheduling, lobby management, and analytics—makes it much easier to detect and remove friction at every stage. Key Takeaways Map the full journey: From the first click to post-meeting follow-up, every handoff is a potential drop-off point. Quantify with real data: Track booking conversion rates, no-show rates, lobby wait times, and completion rates by product type to pinpoint exactly where customers stall. Focus on three friction hotspots: Digital/contact center scheduling, in-branch lobby and queue experience, and post-appointment follow-through. Validate with humans: Analytics show where customers drop off; frontline staff members and customer feedback explain why. ALSO: Fix fast, measure faster: Prioritize high-impact, high-volume friction points and run 30–90 day improvement cycles to see real impact. Step 1: Map Your End-to-End Appointment Journey Before you can fix friction, you need to see it. That means mapping the entire customer journey from the moment someone considers booking through the completed meeting and beyond. Think of this as a visual exercise in text form. Here’s how the typical appointment flow breaks down for banks and credit unions: Journey Stage What Happens What to Capture Awareness Customer sees a CTA (“Book an appointment”) on your website, mobile app, or marketing email. Channel source, time of day, device type. Scheduling Customer clicks through to schedule appointments—selecting service type, branch or video, date/time, and advisor. Number of clicks, required fields, drop-off point, time to complete. Confirmation System sends confirmation via email or SMS; customer receives (or doesn’t). Delivery rate, open rate, any bounced confirmations. Pre-Visit Prep Customer receives reminders, document checklists, or reschedule options. Reminder open rates, reschedule/cancel rates, support calls. Arrival & Check-In Customer arrives at the branch, checks in via kiosk or with a customer service representative, and enters the queue. Check-in method, wait time, walk-out rate. Meeting Customer meets with advisor for the requested services. Meeting start time vs. scheduled time, meeting duration, service completed. Post-Appointment Follow-Up Customer receives next steps, documents, or a link to book a follow-up. Follow-up booked (yes/no), document completion rate, time to next action. At each stage, ask concrete questions: How many clicks does it take to schedule from our homepage on a mobile device? What percentage of customers who start a booking actually complete it? How many walk-ins abandon the lobby before being served? Do customers who book via phone calls in the contact center have higher no-show rates than those who book online? Are confirmation and reminder messages actually reaching customers? The cross-channel reality matters. Your website, mobile app, contact center, branch lobby, and video banking services should all connect into a single, seamless appointment journey. When they don’t—when the contact center can’t see branch availability, or the lobby system doesn’t recognize online bookings—you create silos that frustrate customers and waste advisor time. Step 2: Quantify Friction with the Right Analytics If you can’t measure where customers drop off, you can’t fix the experience. Most banks already have the data—it’s just scattered across systems that don’t talk to each other. Here are the core appointment metrics every bank should track: Booking and Scheduling Metrics: Booking conversion rate: Page views → confirmed bookings. If 1,000 people visit your scheduling page and only 120 book, you have a 12% conversion rate—and 88% friction to investigate. Time-to-appointment: How far in advance do customers book? If it’s 10+ days out, you may lack same-day or next-day availability. Reschedule rate: High reschedules often signal unclear expectations or poor reminder timing. No-show rate: The clearest friction signal. Banks using SMS reminders see no-show reductions of up to 80%. Completion rate by product: Mortgages, account openings, and wealth consultations all behave differently—track each. Contact Center Metrics: Percentage of phone calls that end without an appointment booked. Average handling time to schedule (longer = more friction). Repeat calls within 7 days because customers couldn’t complete their first appointment or had unanswered questions. Branch and Lobby Metrics: Average lobby wait time before check-in. Walk-out rate (customers who leave without being served). Advisor idle time vs. queue lengths—misalignment here creates perceived friction even when staff members are available. How to pinpoint the problem: Using timestamped event data from an appointment booking system and lobby management platform, you can see exactly where customers stall. For example: In August 2024, your data shows 42% of mortgage consult bookings were abandoned on the “select advisor” step. This is a clear signal that step is too complex—maybe too many advisor options, not enough availability displayed, or unclear advisor specializations. This level of detail lets you make informed decisions about where to focus improvement efforts, rather than guessing. Step 3: Spot the Most Common Friction Points in Scheduling Many banks focus on the in-branch experience, but most friction actually happens before the customer ever sets foot in a physical location—on the booking page or in the contact center. Here’s where to look for scheduling friction in your digital channels: Digital Scheduling Friction Points: Too many required fields. Asking for full financial history before a prospect can book a 30-minute consult is overkill. Every extra field increases drop-offs. Lack of clear time slots. If availability is hidden behind multiple clicks or shows “no appointments available this week,” customers leave. Forcing account login before booking. Prospects who don’t have accounts yet can’t log in—don’t make them. Unclear virtual vs. in-branch options. Customers expect to know upfront if they can complete their service requests via video banking or need to

The A–Z of Banking Acronyms: A Dictionary of Terms

In a nutshell 🥥 If you’ve ever stared at an internal memo, a vendor pitch deck, or a compliance training slide and wondered what half the abbreviations actually mean, you’re not alone. Banking and credit union staff work in an “alphabet soup” world where acronyms encode regulations, products, risk measures, technology platforms, and internal processes. This A–Z list covers the most important banking acronyms employees encounter in North American retail and commercial banking—from foundational terms like ACH, FDIC, and KYC to emerging digital-branch concepts. The Quintessential Dictionary of Banking Acronyms: An Overview The focus here is on acronyms that staff actually see on dashboards, reports, compliance training, and CX tools—not obscure treasury-only jargon that never leaves the back office.  You’ll find a blend of “classic” terms (APR, IRA, ALM, NIM) with modern branch-technology language (video banking, Meet on Demand, branch analytics, lobby management, appointment scheduling software) that’s reshaping how financial institutions serve customers. For each acronym, you’ll find the full phrase, a one-sentence plain-English definition, the team or role that typically uses it, and one or two concrete examples. Think of this piece as a quick-reference guide that new hires, cross-trained staff, and managers can bookmark and revisit whenever they need a fast answer. How to use this A–Z guide You can scroll alphabetically or use your browser’s search function (Ctrl+F on Windows, Cmd+F on Mac) to jump directly to the acronym you just spotted in an email, procedure, or project plan. Every letter section is ordered alphabetically within that letter, and only widely-used staff acronyms are included to keep the glossary usable rather than overwhelming. Definitions are written in non-technical language first, with an optional “for specialists” note where needed (for terms like ALM, NIM, or Basel-related concepts). Region-specific terms are flagged—FDIC and CFPB for the U.S., FINTRAC and CDIC for Canada—so multi-region institutions can guide staff appropriately. Training teams should consider linking to specific acronyms from LMS courses, onboarding checklists, and internal wikis. This glossary works best as a living reference rather than something you read once and forget. A is for these Core account, payments, and risk acronyms The letter “A” is heavy on payments, risk, and rate terminology that appears on statements, disclosures, and product sheets. Here are the essential terms: ACH – Automated Clearing House: The U.S. batch electronic payment network used for payroll direct deposits, government benefits, recurring bill pay, and ach transactions between bank accounts. Operations, treasury, and back-office teams manage ACH returns and exceptions, while frontline staff answer customer questions about timing. The ach network processes billions of transactions annually. ALM – Asset Liability Management: The process of managing interest rate and liquidity risk on a bank’s balance sheet. ALCO (Asset-Liability Committee) meetings drive decisions that affect product pricing and the rate sheets branch staff see every day. Asset liability management became central after the U.S. savings and loan crisis in the 1980s pushed regulators to require formal interest-rate risk processes. AML – Anti-Money Laundering: The regulatory framework requiring financial institutions to detect and report suspicious activity related to money laundering and terrorist financing. AML programs include KYC (Know Your Customer), SAR filings, and frontline red-flag training. In the U.S., the Bank Secrecy Act forms the backbone of anti money laundering compliance. Appointment Scheduling Software for Banks – Software that banks and credit unions employ to streamline appointment booking, boost operational efficiency, capture more revenue, and increase CSat scores.   APR – Annual Percentage Rate: The standardized cost of credit expressed as a percentage, including interest and certain fees. You’ll see the annual percentage rate on credit cards, HELOCs, and loan disclosures. Staff must explain how APR differs from the note rate and why it matters for customers comparing loans. APY – Annual Percentage Yield: The rate that reflects the effect of compounding on deposit accounts—essentially what a customer actually earns over a year. APY appears in marketing for savings account products, CDs, and money market accounts. Compliance teams verify APY disclosures meet Truth in Savings Act requirements. ATM – Automated Teller Machine: Self-service terminals for cash withdrawals, deposits, and balance inquiries. Operations teams monitor uptime metrics for branch and off-premise ATMs. Every customer interaction with an automated teller machine is part of the broader omnichannel experience. AUM – Assets Under Management: The total market value of client assets managed by a bank’s wealth or asset management arm. Advisory fees and relationship profitability often tie directly to AUM growth. Relationship managers track AUM for high-net-worth customers. B is for these Branch operations, capital, and lending acronyms “B” terms help staff understand capital ratios, branch-level responsibilities, and emerging lending concepts. BSA – Bank Secrecy Act: The foundational U.S. law requiring financial institutions to help detect and prevent money laundering. Branch staff must capture proper identification for large cash transactions (CTRs for currency over thresholds) and escalate suspicious behavior (SARs). During bank exams, examiners closely review BSA compliance. BCP – Business Continuity Plan: A documented plan for keeping services running during disruptions—power failures, cyber incidents, pandemics. Example: the rapid shift to remote work in 2020 relied heavily on BCP protocols. Staff might see “per our BCP” in memos about emergency procedures. BNPL – Buy Now, Pay Later: Installment financing at point of sale, increasingly offered by banks and credit unions competing with fintechs (examples include Affirm and Klarna). Some institutions partner with private sector BNPL providers while others build competing products via cards and digital platforms. BPS – Basis Points: A unit equal to 0.01%, used to discuss interest rate changes. Example: “The Fed increased rates by 25 bps.” Lenders, treasury teams, and ALCO use basis points because saying “rates up 50 bps” is more precise than “half a percent.” BSA Officer: The designated individual responsible for overseeing AML/BSA compliance. The BSA Officer approves policies, reviews alerts, coordinates audits, and serves as the primary contact with regulators during banking supervision examinations. C is for these customer, capital, and compliance acronyms Many “C” acronyms appear in core banking, risk reporting, and customer experience dashboards. CAR

Why Staff Pooling is a Top Concern for Banks and Credit Unions

In a nutshell 🥥 In 2026, banks face economic pressures causing them to be more critical about staffing without compromising on service quality. That’s why *many* of them have looked to the idea of staff pooling to help alleviate these pressures, and unlock hidden capacity throughout the branch network. With staff pooling, financial institutions can dynamically allocate staff across branches, unlocking up to 30% more availability, cutting wait times by 40%, and improving both customer satisfaction and employee retention. This shift enables community banks and credit unions to compete with larger institutions, boost operational efficiency, and move closer to the branch of the future—a flexible, technology-enabled network where every employee and customer interaction counts. The Perfect Storm Facing Banks: Optimize CX, but Scrutinize Headcount As 2026 unfolds, financial institutions across North America find themselves grappling with a perfect storm of operational challenges. Rising costs, persistent staffing shortages, and evolving customer expectations have pushed banking leaders to fundamentally rethink their workforce-management strategies. Among these concerns, staff pooling has emerged not just as a tactical response, but as a strategic imperative that separates thriving institutions from those merely surviving. The banking industry faces a critical inflection point where traditional staffing models—characterized by rigid branch-based allocation and siloed operations—are proving inadequate for modern market demands. Financial institutions that fail to adopt more flexible, technology-enabled workforce solutions risk missing out on revenue opportunities, disappointing customers, and losing out on staff. Before we get into the reasons banks are doubling down in this area, though, let’s define the thing. What is staff pooling? The functionality driving staffing strategies in major banks One of the biggest challenges for banks and credit unions today isn’t just attracting customers. It’s having the right people available when customers actually need help. That’s where staff pooling comes in.  What is “Staff Pooling” in banking? It’s the ability to ‘pool staff’ across branches and extend the reach of every advisor or banker. Rather than making customers wait in-branch, they can meet with the right specialist from another location remotely. The result is fuller schedules for your team, broader access to your services, and a better customer experience, all without increasing headcount. Staff Pooling: The Bank’s POV Instead of each branch operating in isolation, staff pooling allows FIs to treat their advisors as a shared, virtual team. Walk-in and online requests from across all locations are placed into a single system, and the platform automatically connects each client with the best available advisor (even if that advisor is working in a different branch or remotely!). Staff Pooling: The Customer’s POV It feels simple. They arrive at a branch or request help online, and they’re quickly connected with the right expert. Behind the scenes, Coconut’s platform identifies the type of help they need, finds an available and qualified advisor anywhere in the organization, and instantly creates a secure video meeting so the conversation can start right away. The Positive Effects of Staff Pooling in Banks A staff pooling approach dramatically reduces wait times without requiring banks to hire more staff.Why? Well, iInstead of having some branches overwhelmed while others are underutilized, advisors are pooled together and kept busy helping customers wherever the demand is highest. It also means customers can be matched with specialists (think mortgage, investment, or small business experts)  even if those specialists aren’t physically located in that branch. For staff, everything is managed through a unified queue that shows incoming requests across all locations. This makes it easier for advisors to prepare, respond quickly, and work more efficiently. At the same time, the system collects data on traffic, wait times, and advisor performance, helping institutions make smarter staffing decisions over time. The result is a more flexible, on-demand service model that benefits everyone involved: customers get faster, more personalized service; advisors stay productive and engaged; and improve operational efficiency in banking without increasing headcount. 2 Major Staffing Crises Driving Banks toward Pooling Solutions Persistent Staffing Shortages Since the onset of The Great Resignation, the banking industry has faced ongoing workforce challenges. Many struggle to retain talent, with some reporting that 60% of retail branch tellers leave within a year, and vacancy fills take 40–45 days. This talent drain leads to operational disruptions at branch level: when each branch operates with only ~4 FTEs, losing even one staff member has outsized impact. Employee fatigue, burnout, and further turnover then feed a negative cycle. At the same time, branch leaders face a structural hiring dilemma: do they hire aggressively to stabilize service, risking overstaffing if demand drops, or delay hiring and accept deteriorating customer experience in the meantime? This uncertainty makes workforce planning itself a source of operational risk. Rising Cost Pressures With inflation and operating costs continuing to rise, many banks have concluded that simply hiring more staff is no longer financially sustainable. Wage growth, benefits, training costs, and the overhead of onboarding new employees all compound at a time when margins are under pressure and revenue growth is uncertain. As a result, workforce expansion is no longer the default response to higher demand or operational strain. Instead, the strategic focus is shifting toward extracting more value from the existing workforce — improving productivity, flexibility, and utilization rather than increasing headcount. Banks are increasingly asking how the same number of employees can support more customers, more channels, and more complex service needs. In this context, staff pooling moves from a tactical efficiency measure to an attractive, cost-efficient strategy to mitigate against economic forces like:  structural necessity. The ability to dynamically allocate employees across locations, channels, and demand peaks is becoming essential to maintain service levels, control costs, and remain competitive in a high-cost, low-slack environment. This shift makes staff pooling—not just optional, but essential—to maintain competitiveness. Beyond just this, it’s an attracting, cost-efficient strategy to mitigate against all of the surrounding economic forces. 2 Hidden Capacity and Fractional Headcount Challenges Leading Banks to Staff Pooling Fractional Headcount Inefficiencies Assigning fixed FTEs to each branch, regardless of demand pattern, leads to

What is Appointment Scheduling Software, and How Does it Work? An Expert Guide for Banks

In a nutshell 🥥 Appointment scheduling and management software is being aggressively adopted by award-winning banks and credit unions. Implementing it allows banks to more efficiently serve customers on both digital and in-person channels, and better equip branch staff by easing long bank queues and speeding handle times. If you’re looking for how to grow deposits or boost CX in a way that competes with digital-first bank models,  you’ll want to learn about how bank appointment scheduling works, its significant business benefits, and how to go about choosing the right platform—so you can win with new and existing customers alike. Key Takeaways from the Experts Appointment scheduling software transforms customer experience and accessibility. It empowers customers to self‑book, reschedule, or cancel appointments across web, mobile, and in‑branch channels, significantly improving satisfaction and reducing friction in service interactions. Staff productivity and service personalization improve dramatically with it. By centralizing schedules and customer history, advisors can prepare better and serve clients more efficiently, reducing handle times and boosting conversion rates. Automation reduces no‑shows and operational burden. Features like automated reminders, easy rescheduling, and integrated queue management cut down missed appointments and cut administrative load on staff. Appointment data and analytics drive smarter business decisions. The software captures insights on walk‑in traffic, peak periods, no‑show rates, popular services, and conversion outcomes, enabling leaders to optimize staffing, service offerings, and resource allocation. Broad, cross‑industry adoption signals strategic advantage. The underlying benefits (think higher efficiency, better customer retention, and digital transformation) are applicable across healthcare, hospitality, education, and beyond. It may be a surprise to many, but: Banks are deciding not to overcorrect with digital-only offerings. Branches are still very much ‘a thing’.  Why? Even in an industry where digital-only banking is ever present, customers still crave that powerful in-branch, in-person experience in addition to having the option to interact with their financial institutions online. And it should feel seamless for the customer to connect with advisors, get answers to simple questions, or open an account—on every available channel. But 50% of banks are aware that their digital account opening and onboarding journeys are full of friction.  And another 50% of bank customers abandon digital account openings if the process takes too long. These numbers from a recent retail banking trends report, speak to the reason banks are taking steps to serve more customers, more seamlessly, online and in-branch, and provide them every opportunity to book the appointment they need in the most convenient format. Their instant and powerful strategy they’re choosing is bank appointment scheduling.  In an effort to demystify what it is, how it works, and how to choose the right solution for your bank and branch staff, the experts at Coconut Software (which specializes in bank appointment scheduling software, lobby management, and video banking) will break it all down in this all-in-one guide to a business-disrupting software that always wins with customers. Let’s get started. So, What Exactly is ‘Bank Appointment Scheduling Software’? In a nutshell, Bank appointment scheduling software (a.k.a. Appointment tracking software) helps the customers of banks and credit unions to quickly schedule appointments with the right advisor on the channel of their preference. Via a sophisticated calendar interface, they can quickly book, rebook, or cancel their own appointments at their convenience—without needing to rely on anyone branch-side (or contact-center-side) to do so.  On the branch-side, appointment scheduling software also gives staff a clear view of their daily schedule, and details about upcoming meets, so they can better prepare and deliver a more personalized experience to the customer. This results in shorter meetings and handle times, better CX, and higher close rates. Plus: Self-service appointment scheduling software supports financial institutions in moving to more optimal hybrid banking models. Those who aren’t able to visit a branch can opt for virtual appointments/video banking, which saves everyone involved a lot of commuting and waiting time. “Appointment scheduling produces new account growth. First-party data from financial institutions using an OAS solution indicates over 90% of their appointments resulted in new balances gained, and new accounts being opened within a standard response window. The takeaway is that the appointments function provides strong engagement.”  – The Financial Brand Tweet How Does Bank Appointment Scheduling Support Branch Staff? Here are just a few ways that appointment scheduling software—when seamlessly integrated with a bank’s existing framework—can support branch staff in delivering exceptional, personalized experiences for customers: Once customers book their appointments, branch staff and advisors will see them reflected in their calendars. Each appointment in their calendar includes a pathway to the history of the customer’s account details and past interactions with the financial institution, giving advisors the insights they need to provide efficient service while reducing prep and average handle time. Post-appointment, staff can add notes and set reminders for future interactions. Closing an appointment logs the engagement in the platform’s reporting section. Analytics dashboards provide insights into performance, appointment volume, conversion rates, and more—helping financial institutions make data-driven decisions about staffing and product offerings. No-show tracking is built in, but automated reminders and easy rescheduling options help reduce missed appointments. With the right integrations, appointment data syncs seamlessly with CRMs, business intelligence tools, and other key systems to provide a complete view of customer engagement. How Does Bank Appointment Software Work for Customers or Members? Omnichannel Accessibility Appointment tracking software integrates seamlessly across multiple channels, allowing customers and members to access it from your website, mobile banking app, or even an in-branch lobby screen. Self-Service Appointment Booking Customers and members can book appointments effortlessly on their preferred platform, selecting a service, checking availability, and viewing real-time wait times. If the wait is too long, they have the flexibility to schedule a later appointment via phone, video, or in person. Automated Reminders & Updates Once an appointment is booked, customers receive a calendar invite with all the details. They can modify their appointment as needed and will receive automated email or text reminders leading up to the meeting—helping to minimize no-shows. Post-Appointment Feedback After the appointment, customers are encouraged to provide feedback, offering valuable insights that help improve overall satisfaction and service quality. Data Capture & Administrative Tools On the backend, staff members

3 Ways to Reduce Bank Appointment Pain Points

The top 3 appointment pain points and how to reduce them in order to help staff deliver better appointments and be more productive.

How to Better Manage Bank Branch Traffic: 8 Proven Strategies

In a nutshell 🥥 Branch traffic bottlenecks cost financial institutions millions in lost opportunities and frustrated customers. While digital banking continues to surge, nearly 42% of customers still visit bank branches monthly for complex transactions like mortgages, business banking, and financial advice. The solution isn’t eliminating branch visits—it’s optimizing them. Banks that implement strategic traffic management through bank appointment scheduling software, self-service technology, data analytics, and omnichannel integration see dramatic improvements in customer satisfaction, operational efficiency, and staff productivity. This comprehensive guide outlines 8 proven strategies to transform your branch operations. The secret to better branch traffic: Aiming for operational efficiency in banking The modern banking landscape presents a unique challenge: while customers increasingly access financial services through digital channels, bank branches remain critical touchpoints for high-value, complex transactions. The result? Unpredictable foot traffic that creates bottlenecks during peak hours and underutilized resources during slower periods. Financial institutions across North America are grappling with this reality. Recent industry data shows that 89% of banks are increasing their innovation investments in branch and channel strategy, recognizing that efficient branch traffic management directly impacts customer retention, satisfaction, and profitability. The key to success lies not in eliminating branch visits, but in optimizing how customers move through the branch experience. From appointment scheduling systems to staffing models driven by bank branch data and analytics, the following eight strategies provide a roadmap for banks looking to transform their branch operations and deliver exceptional customer experiences. Traffic Management Solutions: Initial Steps to Take The fastest way to address branch congestion is implementing solutions that provide immediate relief while laying the groundwork for long-term optimization. Bank branches remain critical touchpoints in the customer journey, and integrating the branch channel into the overall customer experience strategy is essential for delivering seamless service across all platforms. These immediate traffic management solutions deliver results within weeks of implementation, making them ideal starting points for banks facing urgent capacity challenges. As banks look to maximize resource utilization and justify innovation investments, the trend toward fewer branches due to digital transformation makes it even more important to optimize the remaining locations. Implement appointment scheduling systems to spread customer visits throughout the day. Appointment scheduling represents the most impactful immediate solution for managing branch traffic. By allowing customers to book specific time slots for their visits, banks can distribute demand more evenly throughout operating hours, reducing peak-hour congestion by up to 40%. Modern appointment systems integrate with CRM platforms like Salesforce, enabling branch staff to prepare for each visit with relevant customer information and appropriate resources. This preparation reduces service times and improves the overall customer experience while maximizing staff efficiency. Bankers can use appointment details to tailor their approach, providing more personalized and effective customer service during each interaction. Deploy digital queue management with real-time wait time updates via SMS and mobile apps. Digital queue management transforms the traditional “take a number” system into a sophisticated customer flow solution. Customers receive real-time updates about their position in line and estimated wait times, allowing them to use their time productively rather than standing in lobby areas. Advanced queue management systems can differentiate between service types, routing customers to appropriate specialists and providing accurate time estimates based on transaction complexity. This transparency reduces perceived wait times and increases customer satisfaction even when actual service times remain unchanged. Install self-service kiosks for routine transactions like balance inquiries, transfers, and account updates. Self-service kiosks handle approximately 60% of routine branch transactions, freeing tellers and relationship managers to focus on complex, high-value customer interactions. These kiosks can process balance inquiries, transfers between accounts, address changes, and document printing without requiring staff intervention. Strategic kiosk placement near branch entrances allows customers to quickly complete simple tasks while also serving as a filtering system that directs more complex needs to appropriate personnel. Many banks report reducing average branch visit times by 25% after implementing comprehensive self-service options. Use lobby management software to track peak hours and optimize staff allocation. Lobby management software provides real-time insights into customer flow patterns, wait times, and service bottlenecks. This technology helps branch managers make immediate staffing adjustments and identify recurring problem areas that require systematic solutions. The data collected through lobby management systems becomes invaluable for long-term planning, revealing seasonal trends, optimal staffing levels, and opportunities for process improvements that address the root causes of traffic congestion. These immediate solutions work synergistically to create a more efficient branch environment while generating the data needed for sophisticated long-term optimization strategies. Banks implementing these foundational tools typically see measurable improvements in customer satisfaction and operational efficiency within the first month of deployment. Understanding Branch Traffic Patterns and Challenges Effective branch traffic management begins with a comprehensive understanding of when, why, and how customers visit physical locations. This analysis reveals the underlying patterns that drive congestion and identifies opportunities for strategic intervention. By analyzing these traffic patterns, banks can better serve and expand their customer base through tailored in-branch experiences and services. Poor traffic management can lead to increased customer churn if customers become dissatisfied with their in-branch experiences. Analyze peak traffic times and their specific characteristics. Peak traffic periods follow predictable patterns across most bank branches. Monday mornings typically see 35% higher foot traffic as customers address weekend financial needs and business banking requirements. The lunch hour window from 12-1pm creates concentrated demand as working customers squeeze banking tasks into limited break times. Friday afternoons generate increased activity as customers prepare for weekend spending and resolve urgent financial matters. However, these patterns vary significantly based on branch location demographics. Branches in business districts experience different peak periods than those in residential areas or shopping centers. Successful traffic management requires detailed analysis of each location’s unique patterns rather than applying universal assumptions. Identify transaction types driving most branch visits. Understanding why customers visit branches is crucial for developing appropriate traffic management strategies. Current data shows that mortgage consultations, business banking services, and complex problem resolution account for approximately 65% of branch visits. These transactions

The Importance of Following-up After a Meeting

In a nutshell 🥥 Following up after a meeting is crucial for banks to build trust, ensure regulatory compliance, and maintain strong client relationships. Timely, clear, and personalized follow-ups help clarify next steps, reduce risks, and create competitive advantages by demonstrating genuine interest in clients’ needs. Leveraging technology like CRM systems and standardized email templates streamlines the process while preserving the personal touch essential to banking success. Avoiding common pitfalls such as delayed responses or generic communications further enhances client satisfaction and drives business growth. The Critical Role of Follow-Ups in Banking Success In today’s competitive banking landscape, the difference between closing a deal and losing a client often comes down to what happens after the meeting ends.  While FIs invest heavily in acquiring new clients and developing and integrating innovative products into their workflows (think appointment management software, video banking, and bank data and analytics capture), many overlook a fundamental practice that can make or break client relationships: the strategic follow up after meetings. Research shows that teams implementing prompt, detailed follow ups complete 36% more action items on time compared to those without structured follow-up routines. For banks, where regulatory compliance, risk management, and client trust form the foundation of success, this statistic represents more than just operational efficiency—it’s about protecting the institution’s reputation and ensuring sustainable growth. The importance of following up after a meeting for banks extends far beyond simple courtesy. It’s a strategic business practice that impacts everything from regulatory compliance to revenue generation, making it essential for every banking professional to master. Why Post-Meeting Follow-Ups Are Critical for Banking Success It immediately impacts client trust and relationship building. When banking pros demonstrate genuine interest in client needs through thoughtful follow up, they create the foundation for strong client relationships. Since the financial services sector operates on trust, clients need to feel confident that their banker understands their specific needs and will deliver on promises made during meetings. Building strong client relationships requires consistent communication that keeps clients on the same page regarding their financial plans and next steps. A well-crafted follow up email serves as proof of the bank’s commitment to client service excellence, often becoming the deciding factor when clients choose between competing financial institutions. It supports regulatory compliance requirements. Banks operate in one of the most heavily regulated industries, where documenting client interactions isn’t just good business practice—it’s a legal requirement. Follow ups help with compliance by encouraging the acquisition of essential documentation for anti-money laundering (AML) compliance, know-your-customer (KYC) requirements, and consumer protection regulations. Risk is mitigated through clear communication. Miscommunication in banking can lead to significant financial losses, regulatory violations, and damaged client relationships. Structured follow up processes ensure all parties understand terms, conditions, and next steps, reducing the risk of costly misunderstandings. When banks implement standardized follow-up protocols with appointment management software, they experience up to a 50% reduction in miscommunication. This improvement directly translates to fewer compliance issues, reduced operational risk, and increased client satisfaction scores. It gives banks a competitive advantage in client retention. In markets where financial products are increasingly commoditized, exceptional client communication becomes a key differentiator. Banks that excel at follow up consistently outperform competitors in client retention and bank CSAT metrics. The process of following up demonstrates continued interest in the client’s success and creates opportunities for independent advisors to grow their business through referrals and expanded relationships. This competitive advantage becomes particularly valuable when targeting high-value clients and members who expect a personalized service. Essential Components of Effective Bank Meeting Follow-Ups Comprehensive Meeting Summary Every follow up email should begin with a clear summary of the meeting’s key discussion points. This summary serves multiple purposes: It demonstrates active listening, provides a record for compliance purposes, and ensures all parties heard the same information. The meeting summary should address specific concerns raised by the client, solutions discussed, and any advice provided by banking professionals. This documentation becomes crucial during future client interactions and regulatory examinations. Clear Documentation of Financial Products When financial products are discussed during meetings, the follow up must include accurate information about features, benefits, and costs. This documentation protects both the bank and the client by ensuring transparency and regulatory compliance. Clients often discuss multiple products during a single meeting, making it essential to clearly document which options were presented and the client’s specific preferences. This information helps banking teams provide more targeted recommendations in future interactions, and may help drive future loan growth and deposit growth. Specific Next Steps and Action Items Effective follow ups clearly outline what actions each party will take moving forward. This includes deadlines for providing additional information, scheduling future meetings, and completing application processes. Action items should specify who is responsible for each task and when it should be completed. This clarity helps ensure smooth progress through complex banking processes and demonstrates the institution’s commitment to efficient client service. Contact Information and Support Resources Every follow up should provide multiple ways for clients to ask questions or address concerns between meetings. This might include direct phone numbers, email addresses, and information about online banking resources. Providing comprehensive contact information shows clients that the bank values accessibility and is committed to supporting their financial success beyond formal meetings. Compliance and Documentation Requirements SEC and Banking Regulation Standards Financial institutions must maintain detailed records of client interactions to comply with Securities and Exchange Commission requirements and other banking regulations. Follow up communications become part of the official client file and may be reviewed during regulatory examinations. These documentation requirements extend beyond simple meeting notes to include records of advice given, products discussed, and client decisions made. Proper follow up practices help banks maintain compliance with evolving regulatory standards. Anti-Money Laundering Documentation When new clients are onboarded or existing clients discuss significant financial changes, follow up documentation must address AML requirements. This includes confirming client identity, understanding the source of funds, and documenting any unusual financial activity discussed during meetings. The process for meeting these requirements

6 Steps to a Successful Technology Implementation Process

What can you do to ensure a smooth technology implementation process? Coconut Software has the 6 best steps to ensure a successful implementation.

The 3 Pillars of Operational Efficiency in Banking (and How to Optimize Them)

TL;DR 🥥 Operational efficiency in banking ultimately means doing more with less — increasing revenue while controlling costs and improving the customer experience. The three pillars of banking efficiency are people, processes, and technology. Investing in staff training, standardizing and automating processes, and adopting technologies like appointment scheduling software and the AI-powered automation of administrative tasks—and leveraging real analytics—can significantly reduce inefficiencies, and create capacity for growth. Learn how leading banks are applying these pillars to achieve measurable gains. Why Operational Efficiency Matters for Banks Operational efficiency isn’t just about slashing expenses. In today’s fast-changing banking landscape, it’s about creating the flexibility to grow, invest, and serve customers better. As customer expectations rise and regulatory pressures intensify, banks that optimize their operations can outperform the competition — with stronger margins, faster service, and higher customer loyalty. The Three Key Pillars of Operational Efficiency in Banking At the heart of this transformation lie three key pillars: People, processes, and technology. Let’s dive deeper into what they mean, and how you can leverage them. 1. People: Empower Staff for Higher Impact Your frontline banking employees are critical to delivering efficient, satisfying customer journeys on all of your available channels. Whether it’s a branch associate, a contact center representative, or a financial advisor specializing in mortgages or wealth, well-trained and equipped staff can solve problems quickly and, in doing so, delight customers and build rapport that can translate into revenue opportunities. Why empowering your employees matters: Under-trained or ill-equipped employees slow down processes, frustrate customers, and create costly rework. Especially if you are implementing software solutions that you expect your bank staff to leverage to help improve efficiencies, it is crucial to implement regular training, staff check-ins, feedback sessions on the product functionality, and measurable ways to track their adoption of these kinds of new tech tools. The Numbers: In a nutshell: empowered staff equals better customer experience delivery. Banks investing in employee training have reported up to a 20% improvement in CSAT. Quick win tip: Provide regular training for staff on digital tools (including appointment scheduling systems) and customer service best practices. This builds confidence, reduces errors, and speeds up service. 2. Processes: Standardize and Automate for Consistency Manual, inconsistent processes that need to be repeated across different employees and platforms (even something as simple as updating a customer mailing address may have to be repeated) can eat up time and resources.  That’s why a. Opting for software solutions that streamline tasks, and b. automation are foundational to a bank’s holistic operational efficiency. Why it matters: Eliminating repetitive, manual tasks frees your team to focus on revenue-generating activities, while also reducing the risk of errors and delays The Numbers: Banks that automate their processes and implement solutions that streamline time-consuming tasks like appointment bookings have achieved up to a 30% reduction in operational costs. Case Study Spotlight: WECU deployed an appointment scheduling solution to manage in-branch visitor traffic. This streamlined check-ins, reduced wait times, and raised their Net Promoter Score (NPS) from around 65-67 to an impressive 86. Quick win tip: Start by mapping your top three most repetitive workflows (like appointment bookings, onboarding, or loan processing). Automate them with modern appointment scheduling software to see immediate gains. 2. Technology: Power Transformation with Smart Tools Technology acts as the backbone of modern operational efficiency. Whether through AI, data analytics, or customer-facing tools like appointment scheduling software, the right technologies can transform both staff workflows and customer journeys. Why it matters: Smart technology enables faster decision-making, better customer insights, and more efficient resource allocation. The Numbers: Financial institutions using AI and advanced data analytics have reported up to a 25% boost in operational efficiency. Case Study Spotlight:  Centier Bank removed customer frustration and improved staff productivity by introducing appointment scheduling software that eliminated bottlenecks in customer interactions. Quick win tip: Consider investing in AI-driven data analytics to spot patterns in appointment scheduling and customer preferences, then use those insights to staff smarter and serve customers faster.  DYK? Appointment scheduling software in particular emerges as a crucial enabler—transforming everything from customer onboarding to branch traffic management, while freeing up staff to focus on higher-value interactions. Operational Efficiency in Banking A 10-minute playbook for busy decision-makers Read Playbook Now Above is just a simple preview of the building blocks of operational efficiency. For a more fulsome look at the strategy behind it, you’ll want a practical framework with actionable tools that can help you unlock the capacity for growth. Enter Coconut Software’s e-book, “Operational Efficiency in Banking: A 10-Minute Playbook for Busy Decision-Makers”. Inside, you’ll find:  Practical ways to identify friction points and reduce operational costs Strategies to unlock new revenue capacity Real-world examples of leading banks driving measurable results through operational efficiency strategies A maturity checklist and scorer that will reveal where your bank is on the spectrum, and areas to tackle first. Frequently Asked Questions How does improving operational efficiency help with deposit growth? By streamlining onboarding processes, reducing manual paperwork, and accelerating account opening with digital tools, banks can attract more deposits faster. Efficient operations also boost customer satisfaction, encouraging clients to consolidate their funds with one institution. Learn more about deposit growth. What role does operational efficiency play in loan growth? Faster, more accurate credit decisioning supported by automation and data analytics allows banks to approve and fund loans more quickly. This enables institutions to serve more borrowers with lower processing costs, fueling loan growth while maintaining sound risk practices. Learn more about loan growth. How can AI in banking improve operational efficiency? AI can automate repetitive tasks, analyze customer data to personalize services, detect fraud in real time, and optimize workflows. By offloading routine work to AI, banks can redeploy staff to higher-value activities and significantly boost productivity. Learn more about AI in banking. What’s the connection between staff shortages in banks and operational efficiency? With fewer staff available, banks need to maximize efficiency to maintain service levels. Automating routine transactions, providing self-service options, and cross-training employees can help

Bank Scheduling 101: The Ins and Outs of Better Financial Appointments

In a nutshell 🥥 Bank scheduling is crucial for enhancing customer satisfaction and operational efficiency in financial institutions. Effective appointment scheduling systems streamline processes, reduce wait times, and improve resource allocation. By implementing digital tools, banks can offer flexible booking options, improve customer interactions, and drive growth in deposits and loans. Ultimately, a robust scheduling system enhances the overall banking experience for both staff and clients. Pop quiz: Do you have an accurate pulse on your advisory staff’s activity right now? Are they over or under capacity? Do you know how full their appointment schedules are? Or how many appointments fall through the cracks? How long does it take your clients to find the person they’re looking for? If you don’t have answers to these questions, you’re not alone. Despite the importance of facetime with customers and members, a surprising amount of financial institutions (FIs) don’t have readily available answers to the bank scheduling questions above. We’re here to change that, and help you learn the value of bank appointment scheduling. Without a solid scheduling system in place, staff suffers by not being aware of capacity, managers are unable to evaluate and improve efficiency, and customers and members lose out on important information like availability and wait times. Effective bank scheduling allows you to find out crucial information like how popular certain appointments are, how many advisors you need on-location, and how busy branches are during various times of the year. In this primer, we walk through the ins and outs of assessing and improving your bank scheduling process to improve efficiency, create better customer experiences, and—ultimately—implement strategic decision-making at your financial institution. What Is the Purpose of Appointment Scheduling? Appointment scheduling is an essential tool for organizing touchpoints between customers, members, and staff at financial institutions. An appointment is often a requirement to complete different services and sell certain complex financial products. Whether over the phone, via video, or in person, appointments greatly impact customer or member satisfaction, loyalty, and retention. Plus, these crucial client interactions provide your advisors with the best opportunities to upsell and cross-sell on key products and services—like mortgages, loans, and financial management. Having an appointment scheduling process is meant to drive organization, efficiency, and an improved meeting experience for customers, members, staff, and management. Without a formal appointment scheduling process or system, keeping track of client interactions is nearly impossible, resulting in missed appointments and customer dissatisfaction. It also doesn’t allow staff (both frontline and advisory) or management to understand availability, upcoming commitments, or busy times at their branches. For many FIs, the protocol for scheduling an appointment without a bank scheduling system goes something like this: Customer or member contacts the institution and waits for a response. Advisors manually check their calendars for availability. The appointment is set, with few (if any) reminders scheduled. Everyone crosses their fingers that the appointment isn’t a no-show or cancellation. With digital appointment scheduling tools, institutions can track and streamline this process for both staff members (who need more functionality) and clients (who want more accessible options). For example: Customers and Members could visit your website, see open time slots based on specific search criteria, book a meeting for various lengths of time, and chat with specialists to go over questions or details. Staff and Advisors can see all booked meetings and open times, see the reason for appointments, receive automated messages when appointments are added to their schedules, keep appointment notes and follow-up tasks organized, and more. Branch, Operations, Retail, and/or Experience Managers and Leaders get a bird’s eye view of the number of appointments happening, where they happen (in-person or online), top reasons for appointments, satisfaction scores from customers, outcomes from those appointments (closed products or resolutions), staff availability and capacity, and more. With a proper bank scheduling system, everyone gets the customization and convenience they’re craving. (That’s what we call a win-win situation.) Did You Know? Banks and credit unions that leverage appointment scheduling and queue management software can save 10 minutes or more per appointment, increase new account growth by 2.5%, and see 325% ROI. Read the study here. What Are the Top Appointment Scheduling Methods? There are several different ways customers and members choose to make appointments with their financial institutions. Whether you’ve implemented bank appointment scheduling software already, or still use a combination of channels, the way someone chooses to book an appointment is still up to the individual customer or member or staff member they interact with.  Pre-book by Phone or Chat It’s common for staff or advisors on-site to answer a call during business hours and help coordinate an appointment on behalf of a customer or member for a future date. They may do this by relaying this information to staff manually with a paper reminder, or by using an internal calendar tool. They may be able to do this instantly, but often have to wait to hear back from advisors about availability.  Bank scheduling software makes this interaction as easy as opening a back-end calendar view, and selecting the availability that makes the most sense for the client.  Walk-in and Speak to Teller Walk-in clients are looking for facetime with knowledgeable and friendly staff members who can answer their questions right away. These customers and members are highly likely to want an appointment right then and there—so having an instant view of advisor availability is very beneficial for walk-ins.  With a bank scheduling system, walk-ins who need to wait a few minutes can also see wait times live on a TV screen (or tablet) in the lobby, and receive a text message or email as soon as their advisor is ready. Contact Advisors Directly If a customer or member has an existing relationship with an advisor, or has been referred to someone specific, they may also choose to book an appointment by emailing back and forth with an advisor directly. This can be an effective way to book appointments occasionally, but it can also lead to miscommunication with other staff members if the appointment isn’t then entered into a shared

Virtual Meetings: Keep Calm and Connect Remotely

The global pandemic caused by the Coronavirus (COVID-19) has impacted nearly every corner of the world. For ourselves here at Coconut, we are lucky to have been able to allow all employees to settle into their remote working environments while continuing to serve our customers. We understand that we are lucky to have the ability to continue providing guidance and solutions to the issues this global crisis has imposed on them, their staff, their customers, and their way of life. Because we know that not everyone has the same option to switch to a work-from-home business model.  They simply do not have the tools in place to make it possible.  As countries around the world order businesses to close their doors and send workers home in an effort to flatten the curve, many citizens are feeling unprecedented levels of uncertainty about their future, as well as what that will mean for their finances. And with experts estimating that the total cost to the global economy is estimated at $2.7 trillion, they are not alone in their concerns. Everyone is affected, and everyone is looking for direction during these difficult times.  This is why we pushed ahead with a priority release of our Virtual Meetings integration, a new feature that allows banks and credit unions to quickly and easily shift from traditional face-to-face meetings to a remote business model. Building on the core functions of our existing customer engagement solution, Virtual Meetings can help customers and advisors to continue their relationships in a digital setting, allowing them to communicate safely and securely from any location. Through a seamless integration with video conferencing providers like Zoom, customers are able to schedule their virtual meeting quickly and intuitively. And for those who prefer a more low tech solution, the ability to schedule a meeting over the phone is also available. All of this is available through the same self-service booking flow used for face-to-face meetings, and with no software to download and no need for customers to set up accounts, adoption is incredibly simple.  Within just days of its release, 20 of North America’s leading banks and credit unions have enabled the new integration, with the Coconut team working tirelessly to help them navigate this newly imposed digital world. And as many branches are forced to close their doors, Coconut’s clients have expressed their appreciation for its rapid delivery. “This is a great example of providing a solution that is a real and present need due to the challenging and uncertain times we are in. We are still in the process of closing our branches due to the need that is still very present in our community, but will be shifting to using [Coconut Software’s Virtual Meetings integration] to help us do more remote video appointments very soon now.” Jeanne PickensCOO, Rogue Credit Union Following from our mission of “powering human engagements in a digital world”, remote meeting capabilities come as a natural evolution of our current offerings, and one that is needed today more than ever. Even prior to the current situation, the ability to connect remotely is something that has been increasingly important to our customers in the financial world. But now, with financial institutions and the customers they serve facing these unprecedented challenges, it’s more important than ever for us all to work together in keeping the lines of communication open. This is why Katherine Regnier, CEO and Founder of Coconut Software, has made the decision to provide this feature at no cost during this time of need. “Where digital customer engagement was previously viewed as a competitive advantage, it is now a requirement to keep customers and staff safe with physical distancing and managing foot traffic. It has made our solution a necessity.” Katherine RegnierCEO and Founder, Coconut Software With both financial institutions and their customers experiencing the full physical and financial effects of the current global crisis, it’s vital that banks and credit unions are able to continue to provide direction and reassurance — while also encouraging increased physical distancing. Whether they accomplish this through enabling staff and customers to meet remotely, or by simply reducing and managing foot traffic by switching to an appointment only business model, we have a solution ready and waiting to help see you through these days, and beyond. From all of us at Coconut Software, stay home, stay healthy, and stay in touch. Interested in our Virtual Meetings integration? Contact Us Today What Next? Looking for more strategies to meet your customers’ changing expectations? Download our report Becoming Future Proof: Five Proven Strategies for the Branches of the Future to learn more methods in technology, design, and service that banks and credit unions can take advantage of in preparation for the future. Interested to hear what top experts in financial customer experience have to say about the coming challenges branches are looking forward to? Watch our panel discussion Embracing a Customer-First Mindset: Eliminate Friction Points in Your Customer Multi-Channel Journey. Ready to start taking steps to ensure your business is set up to meet future challenges head on? Schedule a consultation with Coconut Software to learn more about how our tailored solutions can help.

Remote Video Banking: Future Proof Branch Strategies

Photo Credit: https://writix.co.uk/ Deploying a digital-first banking platform is not only now possible, but mandatory for financial institutions of all sizes — but this doesn’t mean getting rid of physical locations altogether. 77% of customers still prefer visiting the branch when they want to discuss complex financial topics, and even for digital banking customers, speaking with a live representative still evokes the greatest amount of positive sentiment. Finding that perfect balance between digital and human services is the key to establishing a future proof branch. As a follow up to Part 3 in our series, today we will be examining the 4th of 5 different strategies that banks and credit unions can implement in order to set their branches up for success in this rapidly changing landscape. Introduce Remote Video Banking Video banking has been popular for years now, with many banks having installed ITMs — interactive teller machines — for their drive-up and in-branch kiosks. A number of financial institutions have been successful with this technology, but technology has evolved, and consumer habits with it. Today, millions of people are making video calls through FaceTime and Skype every day, video conferencing in the office is commonplace, and telecommuting is on the rise. With remote video calling becoming so mainstream, customers are beginning to question the need for a branch visit in order to engage with a banking assistant. The expectation that their financial institution extend the same capabilities that they enjoy everyday in communicating with their friends and colleagues to things like mortgage applications and investment consultations is on the rise.  “We recognize that [SMB customers] work unconventional hours, are traveling or might not be able to visit a branch for a number of other reasons. Being able to access RBC Small Business specialists via video wherever and whenever they want helps them maintain that personal connection they expect with our bank.” Cathy HonorSVP Contact Centers, Royal Bank of Canada Currently, most remote video offerings like those of RBC are created for specific use cases — with RBC it’s SMB clients, while others like Barclay’s provide limited retail banking services. In these early stages, these constraints to service levels work to streamline implementation as specialized representatives are able to serve customers from central video contact centers. However, if remote video banking is to be extended to more services in the future, it should also be extended to include the branch itself.  Along with allowing branches to leverage the talented and experienced staff they already employ, it would allow customers the option to engage in a video engagement with a local representative that they know and trust. This not only plays to the strengths of the branch in providing expert face-to-face financial advice, but also fits with what customers are expecting from digital services. According to research from Kony Inc, although 57% of customers want all products, services and support to be available digitally, they want those digital offerings to be supported by a named company representative. Customers want digital, but they also want the trust, security and relationship that comes from physical services. This means combining physical and digital services rather than separating them into two divergent channels — the branch and the video contact center should be working to support each other. Are Customers Ready? According to a recent study, the future of video banking looks bright, with the vast majority of consumers who try it rating the experience highly. Somewhat surprisingly, consumers who have used in-branch video banking rate their satisfaction with the service slightly higher than those using video services remotely. A difference that could be the result of remote video banking customers having to navigate the system on their own.  The study also found that it is inaccurate to assume that younger, more upscale customers are the most likely to accept video banking. In their research, it was found that all consumers, regardless of age, gender or socioeconomic status, are generally open to trying video banking if/when their bank or credit union asks them.  The fact is that as branches continue to shrink, customers are still going to want to get face time with skilled advisors. The numbers show that 50% of US financial customers are willing to try online banking if their bank offers it, and as illustrated previously, they are generally quite accepting of the technology once they’ve experienced it for themselves. With this in mind, a branch looking toward the future would do well to begin bringing video banking capabilities into their locations today. Doing so will not only enable them to differentiate themselves from the competition today, but to provide both themselves and their customers with a head start on the larger remote video banking transition that is almost sure to happen in the future. Check out the other articles in the Future Proof Branch Strategies Series: PART ONE – Self Service Kiosks  Examining the benefits and capabilities that self service kiosks can bring to your branch by eliminating many of the pain points that customers associate with their visit. PART TWO – Café Style Branches  We discuss design changes in the lobby that can help to encourage relationship building and conversations between advisors and their customers. PART THREE – Smart ATMs Exploring the changes that are being introduced through new Smart ATMs and where that may take us — and the frontline staff that many fear they replace — in the years ahead. What Next? Looking for more strategies to meet your customers’ changing expectations around the in-branch experience? Download the full report Becoming Future Proof: Five Proven Strategies for the Branches of the Future to learn more methods in technology, design, and service that branches can take advantage of to adapt in the rapidly changing financial landscape. Interested to hear what top experts in financial customer experience have to say about the coming challenges branches are looking forward to? Watch our panel discussion Embracing a Customer-First Mindset: Eliminate Friction Points in Your Customer Multi-Channel Journey. Ready to start taking

How to Attract and Retain Millennial Customers in 2020

As the first generation to be raised with the absolute ease of technology – the norm of face-to-face interactions for banks and credit unions has shifted. Because of this, banks and credit unions face a difficult challenge; how do you attract and retain millennial customers who want to minimize interaction, and crave an enhanced digital experience. For those up to meeting this challenge – it could signify their greatest opportunity for growth.  Over the next 10 years, 75% of customers seeking wealth management and personal financial services will be millennials. This is a concerning statistic for many finserv organizations since the millennial customer shows a number of differences in the way they prefer to interact with organizations compared to older generations. We will discuss the differences in how to communicate with a millennial customer and how an appointment management solution can help attract the up and coming generation and reduce churn. How can Coconut Software upgrade your institution’s digital presence and capabilities? Download the Ultimate Guide to Digitally Transforming the Appointment Experience today. Attract and Retain Millennial Customers – The Challenges 1. Millennials Have Higher Customer Service Expectations Millennials have grown up in the midst of the digital transformation and are used to the benefits that come with it. The digital experience has enabled many industries to increase the quality of the services they provide in terms of customer experience, and millennials have become accustomed to premium treatment. Financial Services is one of the oldest industries in the world, and also one of the last to begin the digital transformation. This is causing the millennial customer to seek out businesses that provide them with convenient digital service that they desire. 2. Millennials Prefer to Interact With Brands Digitally Millennials are a digital-centric generation, meaning they rely strongly on technology in their daily life, specifically their smartphones. Millennials expect immediate, online access to their finserv provider, whereas older generations were very comfortable picking up the phone or waiting for their service provider to get back to them. Millennial customers, more than other generation, are asking themselves, “if I can schedule a massage, order groceries and buy flights online, why can’t I book an appointment with my bank?” 3. Millennials Won’t Stay Loyal Just Because You Have a History Millennials are 2 to 3 times more likely to change service providers than any other generation. They are used to a digital experience with enhanced customer service, and they are not worried about leaving a current provider for an organization that meets all of their needs. And soon, those customers will make up the majority of the workforce. In fact, 30% of millennials report they have left their current bank or credit union because they found another finserv organization that provided a better experience. Attract and Retain Millennial Customers – How Appointment Management Solutions Help  The increasing demands of the millennial customer are concerning to the legacy structure of the finserv industry, however, there are ways to keep the value of your business interactions while implementing solutions to attract the growing population of millennial customers and reduce churn. An appointment management tool offers multiple solutions to your millennial customer problem. 1. Improve Customer Experience With New Insight Into Customer Behavior When your organization leverages an appointment management solution, you will gain additional insight into the customer’s behavior and history with your organization. When you have an integrated scheduling platform, your customer-facing staff can access all the information collected during the appointment-booking. This will allow them to prepare for their upcoming appointment with the customer, enabling them to provide the enhanced customer experience the millennial customer craves. 2. Give Your Customers What They Want With Real-Time Online Appointment Scheduling With an integrated appointment management solution, you can offer real-time, 24/7 online appointment scheduling. This will allow your customers to schedule in-person interactions with your organization whenever and wherever they want, minimizing human interactions with your organization, which the millennial customer loves to avoid. Additionally, when your customers book appointments online, they will also receive reminders on their smartphones, which the average millennial checks about 43 times a day, reducing the chances of no-show appointments. 3. Keep Customers Loyal With Direct Feedback With an appointment management solution, your organization can send out automated follow-up emails to customers to gain feedback on the experience they had. People love to be asked their opinion, and asking your customers about their experience with your organization will make them feel valued and earn you major brownie points. We know millennials are less loyal than previous generations, but we also know customers who feel their financial services provider listens to their needs are more likely to remain loyal to that brand. Following-up with millennial customers and asking about the experience they had with your organization makes them feel like their opinion matters. Streamlining the digital experience up to the in-person interaction, while leveraging technology to provide a premium experience, will set your organization apart. Millennials are a completely new type of customer for the FinServ industry, and by leveraging a digital experience, your organization will be able to provide the services the millennial customer desires in order to attract new business and reduce churn. Discover A Modern Way to Engage Get In Touch What Next? Ready to learn more about upgrading your institution’s digital presence and capabilities? Download our Ultimate Guide to Digitally Transforming the Appointment Experience today. Looking to boost revenue and deliver a premium experience to your clients? Schedule a consultation with Coconut Software to learn more about how our appointment scheduling solutions can get you there.

4 Fintech Innovations for Creating Deeper Connections

The top 4 tech innovations in fintech emerging are turning casual bankers into devoted customers. How can banks and credit unions benefit from this trend?