The Real Reason Branch Traffic is Declining… Speed

I recently interviewed our Senior Integration Support Engineer, Boaz Ron, related to how he felt about going into a branch. His thoughts were the following:

If I can get a deposit done through my phone, computer or ATM in under 20 seconds, why does a teller take longer?

An ATM can dispense cash faster than tellers and there is always some old slow guy holding up the line.

If my phone, an ATM and a computer can do things more accurately and faster than a teller, then I don’t want to wait for the teller, especially when I like to believe I don’t have the time.

That’s what I believe most people think.

So how to get people back in branches and back to the line??? FASTER lines… FASTER SPEED… and straight-through-automation on checks and cash.

I’d even suggest a new policy where tellers always use a cash counter or dispensing machine. Standing and waiting for a teller to verify cash amounts is about the most annoying thing there is, especially knowing ATMs can dispense $400 in a few seconds). It would be great if every teller or branch used a Cummins Allison JetScan.

The morale of the story: Faster tellers will entice customers into the branch, this can only be accomplished with new technologies.