With the increasing presence of the Omnichannel environment (a.k.a. technology) across the financial institution landscape, the role of the teller in the retail bank branch is frequently being examined closely. The goal is to shape on-going roles and responsibilities when introducing various automation channels to the retail branch environment.
In our conversations with the leadership financial institutions, the viewpoint is one that can almost be categorized as adversarial – this is to say a belief that Teller and Technology are not able to truly co-exist. Moreover, there is a common misperception and perhaps worry conveyed in hushed tones between your operations teams and tellers of all experience levels and tenure in the breakrooms, the watercooler and cash rooms that the technology investment is most assuredly a sign that their time is nigh and that upper management is going to turn their branch into one big robot.
Can Teller and Technology Truly Co-Exist?
We believe beyond question that a symbiosis can develop where Teller and Technology co-exist; and most importantly that technology serves the teller which in turn yields better banking service for the end-customer through more attentive, efficient, enjoyable and contemporary session while still ensuring transaction consistency, accuracy, security and reliability.
As importantly, our unwavering belief is that the branch still represents the physical identification of brand and allegiance to the financial institution of choice. In the continuing shift and introduction of the Omnichannel model, the branch still operates as the ‘storefront’ where the more critical and complex transactions occur in-person and over the table. We believe in the concept of the branch as a storefront, or beacon of presence for the institution. In the community bank environment we know the importance and value that teller has in terms of being the personification of the branch experience and oftentimes has served generations of customers and is the ‘go to’ person at their ‘home’ branch. Therefore, we want to enable this teller to be more productive and client focused, rather than focused on handling cash accurately and losing the conversation with the client.
Working Together
In today’s branch environment, it’s becoming more about the way we interact as opposed to handling transactions the way they’ve been done for the last 10-25 years. We welcome the opportunity to discuss objective ways to alter the paradigm of Teller vs. Technology to rather one of Teller via Technology.