Pub. 9 2019 Issue 1

5 ISSUE 1. 2019 predictive technologies, to help prepare them for the right conver- sations with the right customers at the right time.” We’re talking far beyond the rou- tine here—toward a key factor in branch optimization—the staff. “It’s not a new idea, but there’s still debate around how do we really do it well,” says Meara. “Universal bankers cost more to acquire, train and compensate, so if our staff branches that way and they’re still processing lots of teller transactions, then that’s a waste of money. The human capital considerations are where banks wrestle with implementing universal bankers.” Clearly, based on the survey results, banks should be heading toward branch optimization with staff and technology. Anticipate My Needs, and Offer Me a Solution CSI’s consumer poll found that 83% of Americans want advice from their institution toward reaching their financial goals. This proportion reached slightly higher, at 87%, for those whose household income is $100K or higher. This should come as welcome news to financial institutions, and serve as a call to arms in the race for profitability. “The one area where I see the biggest opportunity from a service and differentiator perspective is the expectations of the customer that the bank proactively offers the right mix of financial products and services,” says Cook. “So many consumers don’t know what they don’t know, so they won’t be coming into branches and asking for some of the services that will help them, not because they are not interest- ed, but because even the custom- er likely does not know what’s best for them.” Using solutions like business intelligence and CRM software, banking employees can provide proactive recommendations through a real-time view of the customer’s footprint, including relevant transactions and appoint- ments (e.g., mortgage inquiries). Further, Personal Financial Man- agement (PFM) tools help cus- tomers track their expenses and progress toward goals, empower- ing them to manage their budgets and plan long-term objectives. And for younger customers, offering financial tips or classes taught by a staff member or other knowledgeable professional is an opportunity to deeply engage them in a way they prefer. The Tip of the Iceberg Understanding your banking customers is the key to fulfilling their wants and needs. So, when consumers voice their opinions, bankers should listen intently. But, we’ve hardly scratched the surface here; to get the full results of our survey, including insight on security, social media and digital payments, download the entire Executive Report: CSI Consumer Poll 2018. w Steve DuPerrieu is vice president of channels and analytics for CSI. In his role, he provides leader- ship for CSI’s delivery channel strategy, which includes digital banking, payment services, busi- ness and analytics software, and branch/retail delivery solutions. Steve is also a board member for the Association for Financial Technology (AFT).