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The Mobile-FirstBank Branch
Transforming Banks foran Always-On World
With increasing adoption of mobile banking, banks musttake a “mobile-first” approach to their branch networks
Demand for Mobile Servicesat an All Time High
BY2020
of tablet users access their bank accounts from their devices
52% of smartphone users relyon mobile banking services
40%smartphone penetration is expectedto increase to 90%, and nearly 190 million tablets will be in use
Popular Mobile Banking Activities Among Mobile Banking Users
Checking account balances and transaction history (94%)
Receiving alerts related to banking transactions (57%)
Money transfer between consumer’s own accounts (61%)
Mobile check deposit (47%)
Traditional Bank Branches Risk Obsolescence
Mobile-First Bank Branches Can Optimize SuccessBanks need to transform their legacy branches into smaller footprint, advice-focused, mobile-first bank branches to achieve these benefits
Traditional bank branches allow customers to perform every transaction inside a bank branch, even mobile/online transactions that can be done from anywhere
STRENGTHENEDEMPLOYEE SATISFACTION
COMPETITIVEDIFFERENTIATION
ENRICHED CUSTOMER ENGAGEMENT
INCREASED WORKER PRODUCTIVITY
Banks Should Adopt a Well-Structured Approach for Mobile Service Delivery
Reshaping the Mobile-First Bank Branch with Technology
Determine appropriate bank branch deployment model
Banks should identify and prioritize the “in-the-branch” zones that they should automateand mobilize. The ultimate goal should be to mobilize every zone
ATTRACT ZONE SELF-SERVE ZONE ENGAGE ZONE ADVISE ZONE TRANSACT ZONE
Identify customer zones and processesthat should be mobilized
Identify key IT and Telecom Technologies required for mobile-first bank branches
Consider solutions to reduce risksfor mobile-first bank branch services
Rely on data analytics to optimize deployments and scale gradually
Digital Displaysand Signage
New Customer Acquisition
Tablet-basedKiosks
Efficient Customer Service
Bank IntegratedTablets
Eliminate Wait Times
Video ConferencingServices
Personalized Service Delivery
Printers and DocumentServices
Bridge Physical/Mobile Channels
Tightening economic conditions and the pervasiveness of mobility makeit essential for banks to deploy mobile-first bank branches. Banks that adopt a well-structured, step-by-step approach to facilitating mobility-first services in their branches can successfully meet customer expectations for mobilizing their financial lives and eliminating risks from mobility-first bank branch deployments.
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Sources:Frost & Sullivan research
Advanced Devices Drive Adoption of Mobile Banking Services
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MOBILEBANK BRANCH