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The Real Reason Branch Traffic is Declining… Speed

The Real Reason Branch Traffic is Declining… SpeedI 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.

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