Tag: Featured

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

Katherine’s response to: “Go Beyond ROI With ‘Return on Experience’ in Banking”

In a nutshell 🥥 Financial institutions should evaluate both return on investment (ROI) and return on experience (ROX) across customer, prospect, vendor, and staff interactions. Improving ROX requires streamlined back-office processes, intuitive technology, and reliable data on appointments, branch traffic, no-shows, service outcomes, customer effort, and satisfaction. With the right tools, banks and credit unions can reduce administrative work, support higher-value conversations, and make more informed experience and operational decisions. Financial institutions must combine return on investment calculations with “return on experience,” or ROX, metrics to create the right conversations at the leadership level. And they shouldn’t limit this measurement to the member or customer experience. It should extend to prospects, vendors, and staff as well. We all know that an exceptional banking customer experience improves brand affection, decreases churn, and increases the chances of growing share of wallet. But your staff can’t deliver it without the right processes, support, and tools. Why ROX Matters in Banking Jim Marous is right on the money when he says that financial institutions should focus on “improving experiences by simplifying back-office processes and delivering intuitive solutions across all channels.” A paper-and-pen process or homegrown solution likely isn’t cutting it anymore for members and customers. It also takes away precious time from staff. A well-designed and well-integrated technology stack helps teams reduce manual, administrative tasks, which are often prone to human error. In turn, staff can focus on the consultative, advice-based conversations that tend to deliver the highest value. Creating consistent, seamless interactions across digital and physical channels can also support better customer experiences. Members and customers increasingly expect financial institutions to respect their time and make it easy to engage in the channel that works best for them. How Appointment Scheduling Software Supports ROX One of the most immediate benefits a solution like Coconut can offer is reducing the people-hours required for basic appointment scheduling and lobby management tasks. Something as simple as automating appointment reminders can save hours each week. It can also turn a mundane touchpoint into an opportunity to delight and connect with recipients. Modern bank appointment scheduling software can help financial institutions: Reduce manual booking and reminder tasks. Improve staff preparation before customer and member meetings. Capture appointment volume, no-shows, service types, and outcomes. Provide greater visibility into branch traffic and staffing needs. Give customers and members more flexibility in how they engage. This kind of technology does more than improve efficiency. It creates a stronger foundation for measuring the experience customers, members, and staff are actually having. How to Calculate ROX in Financial Services When it comes to calculating ROX, here’s where I think many financial institutions may have trouble. Net value of benefits is divided by the cost of the investment, then multiplied by 100 to get ROX: ROX = (Net value of benefits ÷ Cost of investment) × 100 But what does “net value of benefits” mean, and how do banks and credit unions actually track it? According to Jim’s article and the quoted Salesforce report, it could include acquisition costs, time to market, speed to serve, customer effort score, customer satisfaction, and other experience-related measures. But financial institutions must have the technology in place to accurately track these inputs. A banking analytics strategy can help connect interaction data with outcomes. For example, institutions can compare appointment activity, wait times, no-shows, satisfaction, staff utilization, and completed products or services. Questions to Ask Before Measuring ROX Before considering how to calculate ROX, consider: Can you accurately measure the number of appointments, no-shows, or branch visits your institution has each week? Do you have the ability to track the outcomes of those interactions? Can you track specific engagement points between your staff and your customers, and how satisfied both parties were with the interaction? Can you connect your marketing efforts to services sold or appointments completed? Can you accurately predict traffic at your branches or the time it takes to complete specific services? These questions are foundational. If an institution can’t reliably measure its interactions and outcomes, it will be difficult to understand the true value of an experience investment. Turning ROX Data Into Better Decisions Tracking data is only the first step. Financial institutions also need to connect the data to decisions about staffing, processes, technology, and customer engagement. For example, appointment and queue data can show which services are most popular, when branches are busiest, how long customers wait, and where no-shows occur. These insights can help leaders forecast demand, allocate staff, and identify friction in the customer journey. The goal is not to measure every possible data point. It is to identify the measures that help answer important business questions: Are customers and members able to access the right support easily? Are staff spending enough time on high-value conversations? Are marketing efforts leading to completed appointments and services? Are branch resources aligned with actual demand? Are experience improvements contributing to retention, growth, or share of wallet? I totally agree with Jim’s position in this article, and can only imagine the introspective conversations required with your leadership team about what you can currently measure in order to properly manage and track your ROX. Frequently Asked Questions About ROX and Banking Experience What is return on experience (ROX) in banking? Return on experience, or ROX, is a way for financial institutions to evaluate the value created by improving experiences for customers, members, prospects, vendors, and staff. It complements traditional ROI by considering measures such as customer satisfaction, customer effort, speed to serve, acquisition costs, and operational efficiency. How is ROX calculated for a bank or credit union? ROX can be calculated by dividing the net value of benefits by the cost of the investment, then multiplying the result by 100: ROX = (Net value of benefits ÷ Cost of investment) × 100 The exact benefits included will depend on the institution’s goals and the data it can reliably track. What metrics should banks track to measure ROX? Banks and credit unions should consider tracking appointment volume,

The Top Bank Appointment Engagement Analytics (and How to Use Them)

Online scheduling software has become increasingly popular for financial institutions and consumers alike, driven most recently by the COVID-19 pandemic. These user-friendly platforms are allowing greater efficiency in day to day business activity. They increase customer happiness with features like self-serve booking and automated reminder messages. An appointment planner app works with your business to streamline scheduling, but that’s not all. Did you know that it can actually provide you with powerful insights? These apps have the ability to gather valuable information. They notice patterns and help you identify your strengths and weaknesses. Want to get the most out of your appointment planner and boost revenue? Follow along to learn which measurements to watch for and how to use them to improve your business. How Do Analytics Work? Remember when businesses operated with paper scheduling and pencils? Cancelations were messy and rescheduling was a task and a half. That system became obsolete because of its inability to scale and grow, but there was also a key factor that business owners were missing.  Scheduling software improves your daily appointment planner. It makes schedules more readily available, but it isn’t only for managing your appointments. Every activity that takes place on a planner app is logged and remembered. Financial institutions can gather more information, building out a history of past engagements.  Businesses are no longer scribbling down a name or erasing contact information when they move clients around. Any movement is tracked and filed for future reference at the click of a button.  So where are each of these analytics and what do the numbers teach you? These analytics break down into separate categories. You can see which clients used an online booking system to schedule their appointment and who booked through your staff.  Online Booking Analytics Online booking insights will help you identify who is finding this service helpful and how they are using it. This can be incredibly powerful for growing your share of wallet and automating your approach.  Online Booking Percentage This insight will tell you how many of your total appointments come from your self-serve booking platform.  This platform will allow users to access your team schedule and select a time (and method, phone, video or in-person) that is convenient for them. A large benefit to this service is that they can log in whenever it suits them. Even if your business is closed, they can still interact with you. This also saves on staff productivity as they are spending less time on the phone taking appointments.  Measuring what percentage of appointments come from this source will give you an idea of its productivity. If this is a new addition to your offerings, you’ll want to let your customers know that they can now get in touch with you anytime and anywhere.  This feature will be attractive to new clients and should be marketed to draw them in. You can track the effectiveness of your marketing strategy by taking note of this number as your campaign launches. Bounce Rate This metric will show you how many users take steps to schedule a visit on your appointment planner app but do not complete the booking.  If this number is quite high it means that many potential leads are being lost. You are missing out on bookings due to factors such as non-user-friendly functions, too much information, or too many steps. This includes unavailable appointment times, errors in communication, or lengthy forms. Actioning these areas will encourage more completed bookings. Making changes to facilitate simplicity and usability will increase customer satisfaction, also encouraging the use of this service.  This data point will reflect whether the changes you are making are having a positive impact. Notice what measures are working to decrease bounce rates by completing A/B testing. Once you have the results, you can go ahead and abandon high-bounce causing factors.  Conversion Rate This is the opposing metric to the bounce rate. This will tell you the percentage of leads who are landing on your planner app and proceeding to complete a meeting request. To experience growth, your business must be continually pulling in new leads. High conversion rates will give you the opportunity to not only be noticed by them but to actually bring them into your business and make them a client. Once they are in the door (or on the line), you can work your customer service magic to keep them coming back. Marketing efforts to increase conversion and incentives to book an appointment can be measured here. Every campaign should be monitored for engagement and click-through efficiency. This particular insight will serve as a great overall measure for your efforts.  You’ll get a feel for what consumers like and don’t like about your campaigns based on which ones drive this number up. You can then use this information for future marketing.  Appointment Reminder Use Depending on your planner app, clients who book an appointment will either automatically receive reminders be prompted to ask for them. Of course, for automatic reminders, they will have an option to unsubscribe if they prefer.  The reason this engagement is important is that reminders are proven to decrease no-show appointments. In fact, research revealed that clients canceled less than 5% of appointments after receiving a reminder message.  On top of attending more appointments, this service will boost interaction between customers and your brand. Positive interactions lead to happier customers. Allowing automated services to improve their experience will elevate your customer service as a whole.  Aim to raise this number by encouraging existing customers to sign up. You may even want to switch from a ‘request reminder’ option to an automatic opt-in service. On-Location or in Branch Analytics Clients who decide to walk into a location instead of prebooking an appointment can also be measurable as well, so long as you have a lobby and visitor management solution. You can track traffic patterns and engagements with your staff, helping you notice changes in performance, where to smooth traffic peaks through proactive

The Huge Impact of a Queue Management Software on Staff Productivity

In a nutshell 🥥 Long waits send customers elsewhere, and queue management software gives them control and clear expectations. Virtual queues, estimated wait times and SMS or email alerts cut congestion and keep staff focused on one customer at a time. Ticketing data, feedback, priority queues and smarter staffing then lift productivity, loyalty and revenue. For banks and credit unions, the result is a calmer lobby, happier teams and customers who stay. Studies show that close to 90% of customers would rather go to a different location than wait in a queue. This can cause an immense loss of business during busy times. Every second a customer might have to wait could end up costing you thousands of dollars of lost share of wallet. These days, queue management software takes a lot of the pain away from customers by giving them control and setting the right expectations. This prevents the process from being stressful for all involved. If you do not currently use a queue management solution to help manage footfall traffic, you may be getting left behind. Now is the time you looked into solutions. Lucky for you, it’s not too late to learn about the benefits of such a system and how it can help you move into the future. What It Means Queue management software is a solution by which your customers can secure a place in a virtual queue. This gained initial popularity through food vendors and doctors’ clinics but spread to the financial sector soon after.  In These Times… The main thing on everybody’s mind this year is the COVID-19 pandemic. Managers everywhere have concern for their branch’s ongoing ability to help customers and keep their staff safe. Some companies have even put together specific webinars intended to help tackle the problem. Regardless of your feelings about the virus, public perception has affected customer visitation. This has been ongoing ever since the start of the outbreak. Visitors no longer wish to spend time around others, and public areas have shown concern about liability. One solution is customers being able to add themselves to a virtual queuing system. This way, they no longer need to stand in line and can instead take a queue place by signing into an app, then waiting outside, in their car, or finish up their errands while they wait. The best vendors provide a method via scanning a QR code or visiting a link on their mobile device to encourage visitors to add themselves to the queue. In some circumstances, customers could instead add themselves to the line through a greeter, terminal or kiosk in your branch. This is especially useful for demographics who may be uncomfortable with technology or do not have a smartphone. These customers can then spread themselves throughout the store away from one another. Or, they may even leave the location and return when called, should there be occupancy limitations. Look for a vendor that offers the ability to notify waiting visitors when its their turn, either through SMS or email notifications. Automated Ticket Generation Queue management systems often have an integrated ticketing process. This allows members of staff to track and process any ongoing problems in a well-documented manner. Employees in this situation can even communicate ongoing issues, helping one another to a greater degree than ever before. As a customer, everyone knows it can be frustrating for staff to refer them from one person to another. If that needs to happen in your branch, you can make the process seamless by allowing any staff to view the history of the customer’s concern at any time. Quicker Responses We’ve all been in a situation where the queue has been way too long. A virtual queue manager can estimate and inform customers of exactly when their place in line will be “up”. This way, visitors to your location can plan their day around arriving exactly when they need to.  This prevents any of them from needing to wait for a moment more than they intended to. Then, you can direct them straight to a staff member who can help them. Attention, Please No customer wants to be dealing with a member of staff, only to have someone else attempt to interrupt.  More anxious members of the public may even become rattled if they feel like a long queue is forming behind them. This will lead to them having a negative experience of the visit. Using queue management software means your staff members can fully focus on one person at a time. You will have a lower number of customers waiting in your location, allowing for a more tailored experience for each visitor. That singular focus lets staff members complete their jobs faster. After this, members of the public will feel less worried about the branch being too busy, ensuring a more pleasant experience. Queue Management Software Savings You can use queue management software to track through-rate at teller desks and offices. This means you can track how many members of staff you need in your location at any time. Staff numbers can be further adjusted once you gather ticketing metrics to fully optimize your workforce management to reduce wait times even further. With a little accounting, this will reduce costs and allow more focused training of staff. Your staff will be thankful as their jobs get easier and they can track their workday that much simpler. In simple terms, you can increase a team’s productivity with better time management. This means your operational costs will plummet and your profits could soar by up to 30%. Avoid Queueing Disasters When there are two or more queues, it’s natural for customers to overuse one, leaving the other empty. This is when problems can arise and cause customers to have to wait for longer than is necessary. Similarly, staff moving customers between queues can waste visitors’ time. A virtual queue gets rid of that by putting people in a faster, clearer system — one that they don’t need to physically experience.  You can shuffle customers around

How Leading Credit Unions are Tackling Staffing Shortages in Their Branches

In a nutshell 🥥 Credit union staffing shortages are a persistent, industry-wide challenge — and they’re not going away. This article outlines four practical strategies Coconut Software customers have used to protect member experience while working with leaner teams: offering pre-scheduled appointments to give staff visibility into their day, using appointments to smooth out unpredictable walk-in traffic, enabling advisors to serve multiple locations (including virtually), and leveraging branch traffic data to make smarter staffing decisions. Together, these approaches reduce staff stress, improve NPS, and support smarter branch workforce management — without requiring a full headcount overhaul. The biggest challenge on credit union leaders’ minds right now is staffing. We’ve heard it in virtually every customer conversation we’ve had over the past few months. And our customers aren’t alone. Leaders from roughly four out of five financial institutions are worried about staffing shortages. So, how do you juggle short-staffed branches without compromising on member experience?  The short answer—it’s all about finding ways to reduce stress and workload on existing staff who are already feeling burnt out. That could mean offering members more self-serve options, shifting to virtual banking services, or starting to measure branch traffic so you can make smarter staffing decisions.  We know. It’s easier said than done. But, small changes can go a long way. We’ve gathered some of the strategies that our customers have leveraged to meet this challenge head-on to give you some inspiration on where to get started. 1. Offer pre-scheduled appointments   A big source of staff frustration is not knowing what their day will look like. Walk-in traffic is unpredictable, which means their schedules are unpredictable too. It’s hard for your advisors to have a productive conversation about a new mortgage if they aren’t sure who’s coming in, when they’re coming in or what their needs are.  Introducing self-serve options, like appointment scheduling, makes it easy for members to schedule time with the staff member best suited to help them. No need to wait on hold or in a lineup at your branch. Which puts them in charge of their own experience. Allowing them to meet with staff when they want, and how they want.  It also gives your staff more visibility into their day. They’ll know who to expect, when to expect and can better prepare for those conversations. Which not only boosts NPS, but has also increased conversion rates for our customers 300% on average.  2. Use appointments to even out walk-in traffic  There’s nothing worse than hopping over to your credit union at lunch to wrap up that last detail with your advisor—only to see that everyone else had the same idea. Long lineups add stress for everyone. And it leaves your team struggling to deliver an exceptional experience, which shows in your NPS and wait times.  A few of our customers shared that they help even out the demand on their staff by reserving their busiest times for walk-in traffic only. Then offer pre-scheduled appointments outside of those busy periods, helping to fill in staff calendars during quieter times.  They also share current wait times on their branch locator pages, so members know how long they’ll need to wait to see someone. Allowing them to choose if they’d like to join the line, request a callback or pre-schedule an appointment before they even set foot in a branch. This flexibility helps to spread branch traffic out, reduce staff stress and has increased client NPS scores by 21 points on average.  3. Allow advisors to serve multiple locations  Advisors are in short supply, but they’re also critical to meet aggressive lending growth targets. To help deal with a shortage of these highly skilled staff members, many of our clients have assigned a single advisor to multiple locations.  This staff member often floats between locations throughout the week. But, one new trend we’ve seen customers adopt is the move to fully remote advisors. So advisors can serve multiple locations virtually, which reduces travel time between branches. Allowing advisors to spend more time building relationships with members instead of being on the road.  If a member walks into a branch and needs to speak with an advisor, many customers have set up meeting rooms equipped with laptops and cameras enabling members to join a virtual meeting. The key to making a virtual branch successful is ensuring that advisors are equipped with the tools they need to deliver an end-to-end experience that is consistent with your in-branch experience.  4. Develop a deeper understanding of your branch traffic   One thing we’ve heard over and over again from our customers is that pre-pandemic they were making staffing decisions based on gut feel. But, staffing shortages have forced them to really take a closer look at branch traffic. It’s virtually impossible to avoid over or understaffing if you aren’t sure how many members are likely to visit each day.  Leveraging appointment scheduling and lobby management solutions give you a central location to gather critical branch traffic data. You’ll unearth new insights like:  How long the average branch visit takes How much time staff have between appointments  When your branches are busiest  Which branches are busiest When these branches are busiest  Most popular reasons a member visits a branch  All of this helps you get more visibility into where your branch staff are spending their time, so you can spot opportunities to be more efficient.  Putting it all together  Staffing shortages aren’t showing any sign of slowing down. And every credit union’s staff and members will have slightly different needs. Finding the right strategies that work for your business will take time and the right platform. Effective branch workforce management—the strategic planning, forecasting, and optimization of employee resources across your branches — is what ties all of these strategies together. When you align staffing with real member demand using data, appointments, and the right tools, you move from reactive firefighting to a more predictable, resilient operation that protects both your staff and your member experience. Frequently Asked Questions

How Banks Can Use AI to Boost Operational Efficiency

In a nutshell 🥥 As the financial industry is facing increasing pressure to optimize operational efficiency in banks to enhance customer experience—all while managing staff shortages—AI presents a game-changing opportunity. By turning it inward to streamline operations, automate repetitive tasks, and support staff by quickly equipping them with the right customer information, banks can boost productivity by up to 30% and drive revenue growth. From AI-powered chatbots to predictive analytics and smart queue management, FIs that embrace AI will position themselves for success in the evolving banking landscape. Below, we explore key AI-driven strategies that can transform your bank’s efficiency and CX. How AI Can Transform Retail Banking Operations Retail banks are under increasing pressure to improve operational efficiency, grow deposits, and enhance customer experience—all while managing staff shortages and reducing long lines in branches. Artificial Intelligence (AI) presents a significant opportunity to streamline internal operations and boost productivity, leading to increased revenue and improved customer satisfaction. Turning AI Inward to Boost Staff Productivity (and CSAT) Unleashing AI tools on customers comes with inherent risks, particularly when banks struggle with centralizing and structuring their data effectively. Instead, many retail banks can find more immediate value by focusing AI on internal operations. AI has the potential to automate manual processes, optimize staff workloads, and improve technology-driven initiatives. Research shows that banks can enhance productivity by up to 30% by integrating generative AI into their workflows. Additionally, AI can assist human employees in offering personalized financial advice, tailoring banking products, and streamlining customer onboarding. Banks implementing AI in this way could see revenue growth of 6% or more within three years. Given ongoing talent shortages in the banking sector, many financial institutions must decide whether to develop in-house AI solutions or leverage third-party platforms. For immediate efficiency gains, outsourcing AI-powered solutions may be the faster and more practical option. 3 ways to use AI in Banking to Improve Operations (with Examples) 1. Use AI like internal chatbots to enhance staff knowledge and service. AI-powered chatbots can revolutionize internal operations by acting as on-demand assistants for bank employees. These virtual tools can quickly retrieve information, answer complex queries, and improve overall service efficiency by reducing the time staff spend searching for data. Morgan Stanley introduced an AI chatbot to support its financial advisors by providing instant access to the firm’s knowledge base. The ‘AI @ Morgan Stanley Assistant’ is now used by over 98% of advisor teams, enabling them to respond to client inquiries more efficiently and accurately. 2. Streamline compliance and regulatory processes with generative AI. Regulatory compliance is a major challenge for banks, requiring extensive document reviews and adherence to evolving legal frameworks. Generative AI can accelerate these processes by analyzing vast amounts of regulatory text, identifying key requirements, and assisting risk teams in making informed decisions. Industry leader Citigroup Bank leveraged generative AI to analyze over 1,000 pages of new banking regulations. By working alongside risk and compliance teams, AI provided key insights much faster than traditional manual reviews, helping the bank adapt strategically and mitigate future risks. 3. Integrate AI that accelerates IT and legacy banking system upgrades. Many banks struggle with outdated legacy systems that slow down innovation and efficiency. AI can enhance IT operations by automating coding tasks, optimizing system updates, and facilitating smoother transitions to modern infrastructures. Goldman Sachs launched internal AI tools to assist its software engineers in writing and testing new code. This approach significantly speeds up the modernization of legacy banking systems while also automating data preparation and integrations for smoother IT transitions. 4. Deploy Agentic AI for Multi-Step Task Automation Unlike a single-purpose chatbot, agentic AI can carry out an entire multi-step workflow on its own – for example, pulling a customer’s account history, checking eligibility rules, and drafting a personalized offer without a human triggering each step. Early adopters are piloting this in fraud investigation and loan pre-qualification workflows. The Branch of the Future: AI’s Role in Banking Transformation What exactly is a ‘Branch of the Future’? The mysterious “branch of the future” is really just a way to describe a modernized banking scenario that integrates optimal technologies, digital banking services, and personalized customer experiences to optimize efficiency branch efficiency, and meet the demands of an increasingly discerning customer base. These branches focus on: Seamless digital-physical integration: Customers can transition effortlessly between online banking, mobile apps, and in-branch experiences. Self-service and automation: AI-driven kiosks, virtual tellers, and biometric authentication enable faster, more convenient transactions. Flexible staffing models: With AI assisting in routine tasks, bank staff can focus on higher-value interactions like financial consulting and relationship management. Enhanced customer personalization: AI-driven analytics allow branches to offer tailored financial products, proactive recommendations, and improved service experiences. How Does AI Fit into a Branch of the Future? AI is a critical enabler of the branch of the future, improving both customer interactions and internal operations. Key applications include: AI-Powered Chatbots & Virtual Assistants These tools handle common inquiries, appointment scheduling, and basic transactions, reducing queues and freeing staff for complex tasks. Predictive Analytics for Customer Needs Artificial Intelligence helps banks analyze customer data to anticipate needs, providing targeted product recommendations and proactive support. Smart Queue & Appointment Systems AI-powered queue management optimizes customer flow, reducing wait times and improving service efficiency. Automated Fraud Detection & Security AI-enhanced security measures, including biometric verification and real-time fraud monitoring, help ensure safer transactions. AI-Driven Staff Training & Support AI-powered training tools assist employees in staying up to date on regulations, compliance, and financial products, improving service quality. By embracing AI, the branch of the future will transform into a dynamic, customer-centric hub that offers a seamless blend of digital convenience and personalized financial guidance. Data Snapshot According to Accenture’s 2024 banking industry research, banks using AI to tailor products and streamline onboarding can improve revenue by 6% or more within three years. How to Start Using AI for Internal Banking Efficiency Retail banking leaders looking to adopt AI to transform their offerings should consider the following initial steps: Identify manual and repetitive tasks. Gather input from staff on the most time-consuming processes that

The Best Bank Strategies for Attracting New Customers

In a nutshell 🥥 Attracting and acquiring new customers in today’s banking world takes a smart mix of digital innovation, personalized marketing, and seamless customer experiences. Mobile banking, streamlined digital onboarding, competitive incentives, and data‑driven insights can help banks cut acquisition costs and grow deposits. Community banks and credit unions can stand out through local SEO, omnichannel engagement, and relationship-driven service. At the end of the day, delivering user‑friendly digital platforms, 24/7 support, and thoughtful strategies is what keeps customers coming back in the digital age. Understanding Modern Bank Acquiring New Customers In today’s fiercely competitive banking landscape, customer acquisition has evolved far beyond traditional branch-based relationship building. Financial institutions now face average acquisition costs of $500 per new customer, making efficient and effective strategies more critical than ever before. Acquiring new customers involves not only attracting and onboarding new clients but also navigating the challenges and costs associated with standing out in a crowded digital banking environment. The shift from traditional banking products to digital-first approaches has fundamentally transformed how banks and credit unions attract potential customers. Where once a local branch presence and word-of-mouth referrals dominated acquisition strategies, today’s FIs must excel across multiple digital channels while maintaining the personal touch that builds strong customer relationships. Mobile and online banking have become critical factors influencing customer choice, as these digital capabilities are now central to a bank’s reputation and customer satisfaction. Fintech competition and neobanks have dramatically elevated customer expectations, forcing traditional banks to innovate rapidly. These digital-native competitors have set new standards for seamless digital experiences, instant account opening, and user friendly digital platforms that work flawlessly across all devices. Engaging current customers, as well as new prospects, through innovative practices and personalized experiences is essential for fostering loyalty and driving growth. Key metrics that define success in modern customer acquisition include Customer Acquisition Cost (CAC), Customer Lifetime Value (CLV), and conversion rates across different marketing channels. The most successful financial institutions maintain a CLV-to-CAC ratio of at least 3:1, ensuring sustainable growth and profitability.  In this environment, delivering a seamless digital banking experience is crucial for differentiation and long-term success. Let’s dive into the ‘how’, now. Additional reading: 8 Signs it’s Time to Replace your Appointment Scheduler  Digital-First Customer Experience Strategies A mobile-optimized banking app is the foundation of modern acquisition. Customers expect biometric security, real-time notifications, and tools that help them manage their finances. Websites and apps need to work seamlessly across devices, providing an intuitive experience wherever customers engage. AI chatbots and virtual assistants have become essential. They handle routine questions around the clock, freeing human staff for more complex interactions while keeping prospects engaged. Technical performance matters too—slow-loading pages or downtime directly reduce conversions. Digital-first strategies aren’t theoretical: HSBC Hong Kong, for example, saw a 20% increase in new customer acquisition after streamlining its digital onboarding process, particularly among younger consumers. Additional reading: Coconut and Finn AI: Engagements Get Smarter Personalization and Data-Driven Marketing Utilizing customer data analytics to segment audiences by age, income, banking behavior, and financial goals has become the cornerstone of successful acquisition strategies. Banks that invest in sophisticated data analytics platforms can identify and target different customer segments with precision that was impossible just a few years ago. Implementing Next Best Action (NBA) technology allows banks to deliver relevant product recommendations at optimal moments in the customer journey. This approach leverages machine learning algorithms to analyze customer behavior patterns and predict the most appropriate products or services to offer each individual prospect. Personalized email campaigns consistently achieve open rates 26% higher than generic messaging, demonstrating the power of tailored communication. By analyzing customer data and behavioral triggers, banks can send targeted offers based on account activity, life events, and financial milestones. The impact of personalization extends beyond email marketing. Banks implementing comprehensive personalization strategies across all touchpoints report 15-30% higher engagement rates and significantly improved customer acquisition costs. These strategies are highly effective for boosting customer satisfaction among different customer segments, as personalized communication and innovative engagement methods address unique needs throughout the customer journey. This data driven approach allows marketing efforts to focus resources on the most promising prospects. Real-world examples include major banks using behavioral triggers to automatically send mortgage pre-approval offers to customers showing homebuying research patterns, or retirement planning resources to customers approaching specific age milestones. These timely, relevant communications dramatically improve conversion rates compared to broad-based marketing campaigns. Additional Reading: Coconut Software – How We Help: Customer Loyalty Competitive Products and Incentives Attractive incentives still matter. Cash bonuses for new checking accounts, high-yield savings rates, and the elimination of fees are powerful motivators. Tiered loyalty programs with cashback or rewards strengthen retention and generate referrals. Checking account options are also key. Customers want accounts that fit their lifestyle, whether that’s fee-free accounts with mobile features for younger customers or advanced cash management for businesses. Personalized offerings, promoted through SEO and digital marketing, help banks stand out. Further Reading: Banking Technology Trends Data Snapshot Investing in operational efficiency tools in banks can improve CSAT by upwards of 20%. Checking Account Options Checking account options are a cornerstone of any financial institution’s product lineup, playing a pivotal role in both attracting new customers and enhancing customer satisfaction. In today’s digital banking landscape, customers expect more than just a place to store their money—they want a seamless, user-friendly experience that fits their lifestyle and financial goals, whether they’re accessing their accounts via online and mobile banking or visiting a branch. To boost customer satisfaction and drive deposit growth, financial institutions must offer a diverse range of checking account options tailored to the unique needs of different customer segments. For example, younger customers often seek accounts with low or no fees, robust mobile banking features, and user friendly digital platforms that make managing finances effortless. On the other hand, business clients may prioritize checking accounts with advanced cash management tools, direct deposit capabilities, and integrations with other financial services. Also: Personalization is key. By leveraging data analytics

Logix Federal Credit Union Transforms its Branches, Consolidates Three Lines of Business on a Single Platform with Coconut Software

In a nutshell 🥥 Logix’s new enterprise scheduling foundation with Coconut Software delivers a unified member experience, deeper analytics, and 100% branch adoption across all 18 locations. FOR IMMEDIATE RELEASE | SASKATOON, SK, and BURBANK, CA – Coconut Software, a leader in AI-powered Intelligent Branch Solutions for banks and credit unions, today announced that Logix Federal Credit Union has successfully implemented Coconut’s enterprise scheduling platform across Retail Banking, Wealth Management, and Business Services—replacing fragmented scheduling tools with a single, data-driven foundation for member engagement. With 18 branches across the greater Los Angeles area, Logix previously relied on multiple scheduling tools that operated independently within each line of business, creating inconsistencies in the member experience and limiting leaders’ visibility into demand, utilization, and performance. After deploying Coconut, Logix now offers a consistent appointment experience across in‑branch, phone, and video channels—and has driven a meaningful shift toward scheduled appointments across its entire branch network, giving leaders greater visibility into demand and staffing. “The main reason Logix selected Coconut was its ability to bring appointment scheduling, multi-line-of-business support, reporting, and member-facing customization into one platform built for financial institutions,” says Leticia Meza-Guerrero, SVP of Retail Delivery at Logix FCU. “Coconut aligned with our need for a more modern, flexible, and scalable experience that could support both current operations and future digital member experience goals.” Today, Logix uses Coconut to run its full appointment operation across all 18 branches, virtual channels, and three lines of business, with 100% branch and channel adoption across the network. “Logix didn’t just replace a scheduling tool,” says Katherine Regnier, CEO of Coconut Software. “They built a more connected foundation for member engagement across their entire network. Three lines of business. 18 branches. 100% adoption. That’s what intentional infrastructure looks like. And it gives Logix the visibility and flexibility to keep improving how they serve their members.” The successful integration unifies three of Logix’s lines of business on a single platform and adds capabilities including: Lobby and queue management Microsoft Outlook and Exchange integration Automated member notifications (such as two-hour pre-appointment text reminders) Reporting and analytics that surface appointment demand, traffic patterns, staff utilization, and no-show and cancellation trends across channels “One of the positive takeaways has been the amount of operational insight Coconut can provide beyond basic appointment scheduling,” says Meza-Guerrero. “The platform gives Logix a stronger foundation to understand appointment types, traffic patterns, staff utilization, no-shows, cancellations, and member preferences across channels—helping leaders make staffing and service decisions based on evidence rather than assumptions.” To learn more about this partnership, read the full success story here. About Logix Federal Credit Union Founded in 1937, Logix Federal Credit Union (LFCU) is a not-for-profit financial cooperative serving current and prospective members across the greater Los Angeles area. With 18 branches and a commitment to relationship-based financial guidance, Logix delivers personalized banking, lending, wealth management, and business services designed to help members thrive. At Logix, serving their members is at the heart of everything they do. That commitment comes to life in every interaction, from the first conversation to achieving their financial goals.  For more information, visit logixbanking.com. About Coconut Software Coconut Software is redefining how financial institutions run their branches, both physical and virtual, with AI-powered Intelligent Branch Solutions that unify operations, workforce planning, and customer engagement in one platform. By combining AI-driven insights with enterprise-grade appointment scheduling, in-branch queuing, video banking, and workforce optimization, Coconut helps institutions forecast demand, optimize staff allocation, and deliver seamless customer experiences—driving stronger branch performance. Trusted by 200+ banks and credit unions across North America, including RBC, Mountain America Credit Union (MACU), and M&T Bank, Coconut Software helps financial institutions streamline branch traffic, optimize workforce planning, and accelerate revenue growth. Visit coconutsoftware.com to learn more.  Media Contact: Coconut Software | media@coconutsoftware.com

How to Increase Deposit Growth: 2 Proven Strategies for Banks

Fluctuating interest rates. Rising loan demands. These are just 3 reasons why banks are prioritizing inbound capital, particularly through stimulating core bank deposit growth. To do this well, they should innovate their product offerings and promotions using customer data to target the right audience, and implement a seamless digital omnichannel strategy that optimizes customer onboarding and experience, and minimizes friction. This approach helps banks boost deposit growth while staying fiercely competitive in a rapidly changing economy.

How Opportunities CU Powers Financial Education With Digital Appointment Scheduling

In a nutshell 🥥 Opportunities Credit Union’s Money$ense financial education program struggled with manual appointment booking, no-shows, and wasted staff time—until they adopted Coconut Software’s digital appointment scheduling platform. With self-serve booking, automated reminders, customized appointment types, and intelligent routing, the Money$ense team dramatically improved show-up rates, reduced admin burden, and freed their financial educators to focus on what matters most: guiding members toward financial freedom. As program manager Katherine Bensen puts it, “Since using appointment software, my days are 15% smoother.” Many financial institutions care about their members—it’s in their proverbial DNA. That’s why Opportunities Credit Union, an institution dedicated to bringing affordable financial services to low-income and other traditionally underserved populations, launched its Money$ense financial education program in 2006. “The Money$ense program offers a range of group workshops and one-on-one mentoring sessions to help our community members demystify their finances—from budgeting tips and credit repair, to supporting those looking to buy their first home,” says Katherine Bensen, the Money$ense program manager at Opportunities CU. Through their personalized appointment-based approach, trained financial educators identify clients’ needs, risks, and goals to create an action plan for them to follow. But a few short years after launch, the team started having issues with getting in touch with potential clients. Staff were spending an unnecessary amount of admin time booking appointments, sending reminders, gathering information, and ensuring people showed up to meetings. “When clients reached out to us to book an appointment, it usually resulted in a long email back and forth to find each other’s availability,” Katherine explains. “We also didn’t have a system for reminders, so after all that fuss, a lot of people didn’t show up to mentoring sessions.” Instead of working with their clients to repair their credit scores or offering guidance to seniors on their medical benefits, the Money$ense team was wasting precious time booking meetings and following up to reschedule no-shows. Making Financial Education Easy and Accessible With the Right Technology To make sure members and staff weren’t missing potential connections, the Opportunities team decided to look for a solution that could help automate parts of the booking process. They eventually discovered Coconut Software, a digital appointment and scheduling software for financial institutions. It would allow members to see openings, instantly book appointments, and receive automatic notifications and reminders. “We went to a few product demos for similar software, and found that Coconut was far and above the best choice,” Katherine says. The Money$ense team not only wanted a self-serve appointment booking solution but also one that would prompt members to complete intake documentation and included options for scheduling sessions with multiple people. Coconut fit the bill. Opportunities CU also felt that the Coconut team would be valuable, supportive partners in their implementation—not just a software vendor. “They were willing to work with us on our unique needs,” says Katherine. “They’re helpful, flexible, friendly, and supportive. The Coconut team is a joy to work with.” Fuel your credit union’s growth with our five-star appointments guide Transforming Financial Education for Members and Staff Since implementing Coconut, the Money$ense team has improved service to members, both online and in-branch. “In the past, it was difficult to explain that I could only meet members at certain times in person or online. Now, they can see my schedule and choose whether they want to meet in person, on the phone, or on a video call,” Katherine says. This scheduling flexibility helps Katherine’s team serve more members, meeting clients using their preferred methods, and spending more time helping them achieve their financial goals. Clients receive automatic reminders and options for rescheduling straight to their inbox. Because of this, Katherine has noticed an uptick in attendance and a decrease in wasted staff time. “Most members show up to their mentoring sessions now or they reschedule on their own. Instead of me waiting in a Zoom call for 10 minutes, wondering whether they’ll attend, I can use that time to serve the next member or prepare for another appointment,” Katherine says. The financial educators on the Money$ense team are also better prepared for each appointment, thanks to Coconut’s customized appointment types and routing features. Previously, Katherine would have to reach out to ask the reason for each member’s appointment and wait for a response. Sometimes, hand-offs between frontline staff were incorrect or incomplete, so Katherine would come prepared to talk about budgeting when they actually came to discuss loans. With Coconut, she can see the reason for each appointment and figure out what educational resources to route them to in advance. “It’s incredibly helpful to open my calendar and know whether someone is coming in to discuss credit counseling, post-purchase delinquency, or foreclosure intervention,” Katherine says. “I’m better able to tailor each conversation and help members with their individual financial struggles.” This has all resulted in a significant increase in appointments booked, show-up rates, and efficiency. Members appreciate how easy it is to schedule a time to chat and change their booking. And the Opportunities team saves time and can better prepare for each appointment—all of which makes it easier to guide members through their financial struggles. “Since using appointment software, my days are 15% smoother,” says Katherine. Going Beyond Mentoring to Offer Financial Freedom The Money$ense team at Opportunities Credit Union is here to serve their members at their most vulnerable. “People book appointments with us because they’re struggling. If we can help alleviate that stress and guide them in taking control of their financial future, then we’ve done something right,” says Katherine. The Money$ense team chose Coconut to offer them customized features for their appointment and scheduling needs. But more importantly, they are now free to focus on what they do best: setting people up for financial freedom. About Us Coconut Software is the leading AI-powered Intelligent Branch 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

New Banking Report Reveals a Hybrid Maturity Gap: 76% Say They’re Integrated, While 61% Struggle to Forecast Staffing

Designed for operations, retail banking, CX, and digital transformation leaders, the report offers data-backed insights into AI adoption, workforce planning, scheduling maturity, technology investment, and the future of branch performance. Coconut Software today released Branch Forward: How Financial Institutions Are Investing in Technology, Scheduling, and the Future of CX, a new research report developed in partnership with Future Branches Insights that reveals a growing divide between financial institutions’ digital progress and their operational readiness. Based on a study of 100 senior financial institution leaders across the U.S. and Canada, the research points towards significant trends and challenges among banks and credit unions: A significant gap in operational maturity: While 76% of financial institutions say they deliver an integrated hybrid banking experience, just 3% describe their maturity as truly “intelligent” or “optimized.” At the same time, 61% frequently struggle to forecast staffing requirements to meet customer demand, highlighting a critical operational gap as banks and credit unions look to improve branch performance. A critical uptake in AI integrations: The report highlights how banks and credit unions are increasingly investing in AI and scheduling infrastructure as they work to close that gap. More than half (56%) of respondents said they are already implementing AI in specific departments or workflows, while 22% are scaling AI institution-wide. Meanwhile, more than half have formal investment plans for AI-driven scheduling and intelligent advisor matching (58% each) and demand forecasting (53%) within the next 18 months. A higher value seen in scheduling: The research also points to a fundamental shift in how financial institutions view scheduling: from an operational function to a driver of revenue and branch performance. 54% of respondents said appointment conversion value, or revenue per appointment, is the scheduling metric they are most focused on improving, while 38% ranked conversion optimization as their top business priority over the next 12 months. A summary of key findings from the report: –76% of financial institutions say they deliver an integrated hybrid banking experience, but only 3% describe their maturity as truly “intelligent” or “optimized.”–61% frequently struggle to forecast staffing demand, while 38% experience that challenge occasionally.–58% have formal investment plans for AI-driven scheduling, and another 58% for intelligent advisor matching, over the next 18 months.–55% favor a best-of-breed, integration-first vendor strategy rather than vendor consolidation.–65% say strategic alignment is one of the two most important factors when funding new technology, while 42% cite customer impact such as NPS and CSAT.–46% rank total cost of ownership as the most important factor in build-vs-buy technology decisions. “Financial institutions have made significant progress connecting physical and digital banking, but the next stage of maturity isn’t about adding more channels—it’s about making every interaction more purposeful and productive,” says Katherine Regnier, CEO of Coconut Software. “That requires institutions to better predict demand, connect the right people in the right place at the right time, and tie every interaction to clear outcomes. The institutions that solve that operational layer will be best positioned to turn hybrid banking into a true growth engine.” Designed for operations, retail banking, customer experience, and digital transformation leaders, the report offers data-backed insights into AI adoption, workforce planning, scheduling maturity, technology investment, and the future of branch performance. Download Branch Forward to explore the full findings and benchmark your institution’s approach to AI, workforce planning, scheduling, and branch performance. About Coconut Software Coconut Software is redefining how financial institutions run their branches, both physical and virtual, with AI-powered Intelligent Branch Solutions that unify operations, workforce planning, and customer engagement in one platform. By combining AI-driven insights with enterprise-grade appointment scheduling, in-branch queuing, video banking, and workforce optimization, Coconut helps institutions forecast demand, optimize staff allocation, and deliver seamless customer experiences—driving stronger branch performance. Trusted by 200+ banks and credit unions across North America, including RBC, Mountain America Credit Union (MACU), and M&T Bank, Coconut Software helps financial institutions streamline branch traffic, optimize workforce planning, and accelerate revenue growth. Visit coconutsoftware.com to learn more. Media Contact: Coconut Software | media@coconutsoftware.com About Future Branches Insights Future Branches Insights, the industry research and digital publishing arm of Future Branches, delivers cutting-edge data and analysis on trends, challenges, and opportunities in the retail banking and branch transformation sectors. Through comprehensive research reports, webinars, and thought leadership initiatives, we empower senior-level banking leaders to make informed strategic decisions and stay ahead in the rapidly evolving financial services landscape. Our deep industry intelligence not only informs banking leaders but also connects innovative solution providers with key decision-makers, fostering a dynamic ecosystem that drives the future of branch banking and customer experience in the financial services space. For more information, please visit wbrinsights.com.

Coconut Software Launches Advanced Matching to Help Banks Pair Every Client With the Right Advisor

Coconut Software’s new Advanced Matching helps banks and credit unions move beyond static service menus and “most available” booking, using rules-based routing to match clients based on factors like language, service type, loan size, and lead source. FOR IMMEDIATE RELEASE | SASKATOON, SK, August 13, 2026 — Coconut Software, a leader in Intelligent Branch Solutions for banks and credit unions, today announced the launch of Advanced Matching, a new intelligent routing feature that helps financial institutions connect clients with the best-fit advisor—not simply the next available one. Financial institutions have long relied on Coconut Software to make appointment scheduling more dynamic and personalized. Now, Advanced Matching takes advisor routing beyond service menus and availability, giving institutions greater control over how advisors are matched with clients. Using rules-based intelligence across expertise, language, service type, loan size, region, and lead source, Advanced Matching enables institutions to route each appointment to the advisor best equipped to serve that client and drive the best outcomes. Key capabilities of Coconut Software’s Advanced Matching include: Best-fit advisor routing Match each client to the relevant specialist based on factors like expertise, product type, experience level, language, region, and lead source, rather than just basic availability. Advisor Capacity Multiplier Protect specialist capacity by directing high-value or complex opportunities to the right advisors, while reducing misrouted appointments, rebookings, and wasted advisor time—directly improving cost-to-serve. Simpler, more personalized booking experiences Replace long service menus with intelligent, question-based booking that helps clients find the right service while giving financial institutions greater control over appointment routing. “Advanced Matching is a key part of how Coconut is redefining branch performance,” says Dave Bullock, Chief Product & Engineering Officer at Coconut Software. “It helps institutions increase the chance of tangible outcomes after every appointment, make better use of every advisor hour, and create a more personalized experience—without adding operational strain.” To learn more about Advanced Matching and see it in action, schedule a consultation at coconutsoftware.com. About Coconut Software Coconut Software is redefining how financial institutions run their branches, both physical and virtual, with AI-powered Intelligent Branch Solutions that unify operations, workforce planning, and customer engagement in one platform. By combining AI-driven insights with enterprise-grade appointment scheduling, in-branch queuing, video banking, and workforce optimization, Coconut helps institutions forecast demand, optimize staff allocation, and deliver seamless customer experiences—driving stronger branch performance. Trusted by 200+ banks and credit unions across North America, including RBC, Mountain America Credit Union (MACU), and M&T Bank, Coconut Software helps financial institutions streamline branch traffic, optimize workforce planning, and accelerate revenue growth. Visit coconutsoftware.com to learn more. Media Contact: Coconut Software | media@coconutsoftware.com

Coconut Software Releases M&A Playbook to Help Banks Navigate Mergers Without Losing Clients, Staff, or Deal Value

In a nutshell 🥥 This new executive-level guide gives banks and credit unions a practical framework for protecting customer experience, operational continuity, and integration success through complex merger and acquisition activity. FOR IMMEDIATE RELEASE | Saskatoon, SK  — Coconut Software, a leading provider of Intelligent Branch Solutions for banks and credit unions, today announced the release of M&A Without Disruption: A Modern Banker’s Launch Guide—a new executive e-book designed to help financial institutions address the operational, human, and customer experience challenges that most often cause M&A deals to underperform or fail outright. Banking M&A activity is accelerating. 86% of bank executives now cite credit union acquisitions as their top competitive concern for 2026. And yet despite high deal volume, the integration outcomes remain troubling: over 83% of practitioners involved in failed M&A deals cite poor integration—not deal structure, pricing, or market conditions—as the primary cause of failure. Over 60% of M&A transactions miss their synergy targets, and the average bank loses 2–5% of its combined customer base post-merger, with losses exceeding 30% in cases of significant branch closures or service disruption. “Mergers and acquisitions are exciting opportunities for growth, but they are also periods of intense risk,” says Katherine Regnier, CEO of Coconut Software. “Too often, banks and credit unions focus on financials and regulatory requirements while underestimating the human and operational impacts. The institutions that emerge stronger are the ones that treat people and experience as strategic assets, not operational afterthoughts.” The Front End Is the Blind Spot Banks Can’t Afford Most merger integration plans are built around back-end consolidation: core system migration, data mapping, security and API alignment. These are essential. But M&A Without Disruption argues that the customer-facing experience layer ( the tools members and branch staff interact with every day) is almost always addressed last, creating the gap where trust disappears, staff burn out, and customers quietly leave. Bain & Company’s 2025 research shows NPS scores dropped 55% in a single quarter at one large bank merger, as customers experienced delays accessing accounts, online banking failures, and poor support response times. Meanwhile, McKinsey reports that banks standardizing the member experience pre-merger reduce post-merger service complaints by 20–30%. “The experience layer isn’t a nice-to-have during a merger—it’s a risk mitigation strategy,” adds Regnier. “Deploy it first. Before your core goes live. That’s the playbook the most successful institutions are using.” What’s Inside the Guide M&A Without Disruption: A Modern Banker’s Launch Guide addresses the full scope of integration risk across three dimensions — and gives financial institution leaders actionable frameworks for each: The Tech Challenge: How to evaluate every vendor in the customer-facing tech stack before consolidation begins, including five critical questions every bank should be asking right now. The guide introduces the concept of the “experience layer” — technology that sits above the core, decouples from backend dependencies, and maintains member-facing continuity while migrations are underway. The Staff Challenge: Why culture clash, talent exodus, and employee experience disruption are the costs most integration plans underestimate — and how cross-functional governance, standardized workflows, and structured change enablement protect frontline performance when it matters most. The Customer Challenge: How to deploy a unified member experience from Day One, proactively manage branch transitions with lead time and clarity, and protect the advisor-client relationships that are the institution’s most valuable retention asset. The guide also includes a phase-by-phase M&A playbook (pre, during, and post), and guiding principles for institution leadership. Availability M&A Without Disruption: A Modern Banker’s Launch Guide is available for free download here. About Coconut Software Coconut Software bridges the gap between complex branch operations and high-value customer engagements with a suite of Intelligent Branch Solutions. Its unified platform combines appointment scheduling, in-branch queuing, and video banking to help financial institutions streamline operations, enhance customer experiences, and empower staff to focus on meaningful, advisory-focused work. Trusted by leading banks and credit unions across North America—including RBC, Mountain America Credit Union (MACU), and M&T Bank — Coconut Software helps institutions optimize workforce planning, manage branch traffic, and achieve revenue goals. Learn more at www.coconutsoftware.com. Media Contact: media@coconutsoftware.com

Deposit Retention Depends on Human Access: A Call to Action for Banks

In a nutshell 🥥 Banks and credit unions can’t outspend neobanks on rates, but they can out-serve them on human access. Deposit retention is less about pricing and more about how quickly and easily customers can reach the right advisor in the moments that matter. By treating speed-to-human advice as a core defensive strategy—and using tools like Meet on Demand and intelligent matching to pool staff and cut wait times—financial institutions can turn their existing branch networks into a powerful moat for loyalty and long-term deposit growth. We’re trained to think about banking as offense.  Deposit growth. Customer growth. New account targets. Walk into almost any planning session at a bank or credit union and the scoreboard is about what you’re adding. Obviously, growth matters. It’s the lifeblood of any institution, and it’s exciting and easy to measure. I’m not here to make the argument that financial institutions shouldn’t focus on growth – of course they should; it’s extremely important. But in the daily conversations I have with banking and credit union leaders, there’s a quieter half of the game that gets far less attention, and in today’s environment it may matter more: defense. Deposit retention. Customer loyalty. Keeping the relationships you already fought hard to win. The Quiet Crisis Nobody’s Budgeting For Right now, defense is under real pressure. Everyone in this industry is talking about the flight of capital, deposits, and memberships to neobanks, fintechs, and megabanks: the high-APY savings accounts, the six-figure points bonuses, the slick apps that make a credit union’s digital experience feel a generation behind. The competitive threat is real, and so is the churn that comes with it.  The instinct, understandably, is to answer offense with offense: match the rate, sweeten the offer, run the campaign. I want to make the case for the other side of the ball. There’s a saying that defense wins championships (Yes, I know how corny that sounds; consider this your permission to roll your eyes). But corny or not, it holds up here. Because here’s the thing about playing defense well: It doesn’t live on your rate sheet. It lives in your experience layer. Stop Playing On The Neobanks’ Turf Let’s be honest with ourselves about the rate fight; it’s one that’s spurred on by the increased competition banks are experiencing with neobanks.  When a neobank dangles another half a percentage point, it can do that because it carries a fraction of your cost to serve. No branches. No tellers. No expensive, in-person infrastructure. That’s not a fair fight, and chasing it basis point for basis point is a race to the bottom that ends with thinner margins and customers who were only ever loyal to the highest number on the screen. So if you can’t reliably win on rate, what do you win on? You win on the thing a neobank structurally cannot replicate: actual people your customers can reach. A network of advisors. Human help, available when it’s needed. That’s not a liability to defend; it’s THE asset. And it points to the real value pillar a neobank can’t build: an exceptional customer experience.  I’m not talking about a slicker app or a faster sign-up flow; those are things a neobank can match, and often beat. I mean the experience of being genuinely taken care of by a person who knows what they’re doing, when it really counts. That’s something only an institution with real people behind it can deliver, and it’s one of the few advantages a fintech company simply can’t out-spend or out-engineer. The whole question is whether a customer can actually get to one of those people in the moment that matters. Why Most Of Your Customers Actually Leave Your Bank Here’s where the rate gets misunderstood. When a customer finally moves their money for a better rate, it’s tempting to log it as them leaving for a financial incentive that you can’t compete with. But I want to make the case that the rate is rarely the whole story. When a customer leaves, usually something happened beforehand, typically that they had a painful experience with their bank or credit union that made them open to leaving in the first place. The promotional rate is just the final nudge on a someone who was already halfway out the door. Here’s what that “something” could typically be: A 45-minute wait in the contact center, only to be routed to an advisor who had no context on the conversation, resulting in the customer re-explaining their entire situation from scratch. A quick question that should have taken five minutes, gets buried under a booking process that makes the customer jump through several different hoops to connect with someone. A lunch-break trip to the branch, only to find out the one person who could actually help, the mortgage specialist, works out of a location across town and isn’t in today. None of those situations show up as a line item. But each point to a moment where the loyalty actually eroded.  And so, the customer who can always get quality service, quickly, tends to ignore the offer in their inbox. But the one who got stranded or misdirected the last time they needed you reads that same offer very differently. Let’s really think about that stranded customer, the one who received a poor experience. By the time they come across a competitor’s promotional offer, the damage is usually already done. The customer who couldn’t reach a human quickly – who sat on hold, got bounced between channels, or waited days for an appointment – is exactly the one primed to take that offer. So, as you can imagine, the rate didn’t create the frustration; it just gave an already-frustrated customer a reason to move onto a competitor with an enticing promise. And that’s exactly what traditional FIs underestimate – it’s not a pricing problem, it’s a speed-to-human problem. When a client can’t get to a real person fast when it counts, the offer in the

The Top Benefits of Appointment Scheduling Software for Banks and Credit Unions

In a nutshell 🥥 Banks and credit unions are falling behind in a world where consumers can book almost anything online—except a meeting with their banker. Appointment scheduling software closes that gap by giving customers and members the self-serve, flexible, and digital experience they expect, while simultaneously reducing no-shows, cutting administrative burden for staff, and unlocking powerful data insights. This article covers the top benefits of appointment scheduling software for financial institutions: from better customer experience and increased revenue, to staffing optimization and smarter decision-making—across both the customer journey and branch operations. Right now, across branches everywhere, people can book appointments for just about anything from any device: a dentist appointment, spa session, dinner reservation, or movie showing, to name just a few. Yet most people can’t do the same at their bank or credit union. Instead, they call, email, or walk in. They wait in lines, sit on hold, and hope for an email reply. And they often don’t have an easy way to communicate when they need to cancel or reschedule, so they simply skip the appointment altogether. (Unsurprisingly, no-show rates are at an all-time high.) This state of affairs isn’t just stressful for the individual—it puts a burden on tellers who have to coordinate back and forth, and on operations managers who don’t always have visibility into their upcoming appointments. Plus, branch or retail operations managers base staffing levels on guesses instead of actual capacity.  This is where appointment scheduling software comes in. This effortless, rewarding, and fast solution gives customers and members the streamlined experience they expect when they engage with your location. In this blog, we cover the top benefits of appointment scheduling software—including how it can help transform the customer experience, increase customer loyalty, improve operational efficiency, and more. Why Is Appointment Scheduling Software So Important? Appointment scheduling software isn’t just nice to have—it’s essential for financial institutions and credit unions looking to gain and retain clientele for two main reasons: increasingly digitally-savvy competitors and shifting consumer demands. Customers and members want to engage on their own terms. They want more digital options, more personal choice, and greater ease of use—and they’ll ditch the institutions that don’t offer the flexibility they crave. Self-serve appointment scheduling solutions are one huge (and often overlooked) area that can deliver just that. But transparent appointment systems don’t just benefit the individual—they’re an incredible tool for tellers and advisors, too. As the ongoing economic crisis and labor shortage leaves staff members tired and overburdened, appointment scheduling software saves them time and allows them to serve more customers efficiently and effectively. Ultimately, appointment scheduling software is important for banks and credit unions that want to retain existing clients, attract new digitally-savvy individuals, increase staff efficiency, and grow. It can be an impactful part of the customer or member experience and an important productivity tool for staff members. What Are the Advantages of an Appointment System? 1. Better Customer/Member Experience (and Retention)  Without appointment software, clients often endure long lines, limited flexibility, and unknown wait times. When they need to reschedule or change appointment locations, they either waste time contacting the local branch or call center or skip the appointment altogether.  This poor experience can lead to lapsed memberships, decreased appointments, and missed revenue or growth opportunities. Yet appointment systems can eliminate all of these worries for customers, members, and staff by improving efficiency, increasing flexibility, and boosting customer satisfaction and lifetime value. 2. Improved Operational Efficiency  Rather than wasting time coordinating meetings, waiting on no-show customers, or bugging members with unnecessary follow-up, your staff can focus more on matching people with the right products and services to meet their needs.  Then, by increasing efficiency and optimizing workflows, bank appointment scheduling software cuts down on administrative burdens and costs for both tellers and advisory staff. They also have been shown to cut down on wait times and appointment length. It’s a win-win in terms of time and cost savings. 3. Increased Revenue Long lines, incorrect transfers, and extended call center hold times can all result in lost revenue for financial institutions. In fact, up to 68% of people abandoned the digital onboarding process for a banking product in 2022, all due to poor user experience. Luckily, an efficient appointment system can help recapture revenue opportunities by fostering stronger connections with clients. Here are just a few ways credit unions and banks can measure ROI from their appointment software: 4. Better Decision-Making With New Data Insights If you’ve ever wished you had a complete picture of the customer journey, we have good news: a bank-by-appointment platform gives banks and credit unions greater visibility and control with better data tracking and reporting. Banking analytics also makes it easier than ever to understand exactly how staff performance impacts revenue and products sold. So say goodbye to the old guessing game—instead, you can let key data insights give you the power to take action and improve your institution for the better. For instance, you can get an understanding of which products, branches, or services are the most popular or busy so you can adjust your staffing or offerings accordingly. The Top 8 Benefits of Appointment Systems for Customers and Members It’s hard to summarize all of the benefits of appointment system software in one list, but we’re up for the challenge. Here are a few of the ways a bank appointment scheduling platform will change your members’ and customers’ lives for the better. 1. Convenient Self-Service  Today’s consumers want fast, easy service on their terms. Rather than sitting on hold or standing in line, they want proactive solutions they can access anywhere, anytime. Appointment scheduling software gives them the self-service option they crave, allowing them to book, change, or cancel appointments quickly from any device. No phone tag, no email chains, and no support queue required.  2. Instant Routing With appointment scheduling, customers are instantly routed to the staff member who can best serve their needs. They’ll simply scroll through a convenient list of