timetrade banking_by_appointment

Banking by Appointment Drives Personalized Banking

Banks Realize They Must Personalize Customer Experience

In today’s connected society, the bar is set very high for customer experience and the banking industry is no exception. The key to delivering a superior customer experience is providing more personalized service, as customers are demanding that companies get to know them so they may receive more tailored offerings and products. Banking executives are well aware of this demand as a recent TimeTrade survey of 95 retail bank executives reveals that 72% of respondents feel providing a personalized experience is important. Banks, credit unions and other retail financial service providers understand the increasing value between a more personalized customer experience and their bottom line. They are realizing that the quality of human interaction, the knowledge and expertise bank employees can offer during an in-person interaction, leads to a high-value banking experience and helps to acquire and retain customers.

Factors That Currently Hinder Personalized Banking

However, banks today find many challenges in trying to provide a more personalized service. The dawn of online banking has resulted in customers visiting branches less frequently and online-centric customers fear they will have wait in line at the branch to meet with a specialist. It is also easy for banking customers to shop with competitors online, which potentially gives high-value customers an increased ability to spread their relationships across multiple banks.

The TimeTrade survey reveals other pain points that prevent banks from offering more personalized service:

• 73% of banking execs admit that the right person is not available when the customer needs them• Only 10% offer 24/7 access to live tellers• Only 1 in 5 banks are offering prescheduled appointments with the banking expert who can meet

the customer’s needs

All these factors contribute to the fact that the personal relationships that drive business for banks are fading and banks realize they need to revitalize these relationships in order to enhance the overall customer experience.

A Paradigm Shift: Converting Digital Inquiry Into High Value InteractionBecause these personal relationships are fading, traditional banks are at risk, as 88% of consum-ers surveyed report they are seriously considering switching to digital banking for better service and convenience. A paradigm shift needs to happen, as banks need to turn these challenges into opportunity and convert digital inquiries into high value, personal one-on-one interactions. This shift begins with the ability to make an appointment.

No matter what channel and regardless of the device, banking customers should have a self-service option to schedule an appointment at any time on any channel. Omni-channel service delivery has expanded from “the branch is the bank” to a myriad of options including not only traditional branches, but call centers, internet, mobile, in-product email, print and social media. Customers choose different channels for different types of transactions based on their individual preferences. Banks must provide a consistent experience across channels in order to meet this increasingly complex environment. Self-service appointment scheduling helps banks unify service delivery across all retail channels to help convert digital inquiries to high value, one-on-one interaction while optimizing call center and in-branch operations. Call centers handle thousands of calls per day and can keep an entire team of scheduling coordinators busy trying to match clients with the right banking resource. Appointment scheduling automates the process by empowering call center staff to instantly locate and book customer appointments with the right banking professional, saving time and money and increasing call center efficiency.

Banking By Appointment Revolutionizes Interaction With CustomersTimeTrade’s Banking By Appointment cloud solution enables customers to easily schedule their banking needs and is revolutionizing the way in which banks interact and engage with customers. Banking By Appointment empowers consumers and businesses to book an in-branch or phone appointment through bank websites, email campaigns and social media portals. It’s unique Smart Matching capability ensures customers will be matched with the right expert with the right knowledge and this personalizes the customer experience and increases loyalty and revenue opportunities.

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Banking by Appointment motivates “in market” customers, those who are seeking loans, credit and other high-value financial products right now – to schedule appointments with banking representatives with the right knowledge and expertise. It also enables customers to engage with the bank at a time/date and method that is convenient for them.

By offering a scheduling process that is intuitive and frictionless, a casual browser can be converted into an engaged customer that will go into a branch to learn more about their bank’s services. For example, if a banking customer is looking for mortgage information on their bank’s website and the bank easily allows them to schedule an appointment at a convenient branch with a mortgage expert, this will create opportunity for a one-on-one meeting that will allow for cross-sell opportunities.

This more personalized encounter will also increase the customer’s satisfaction and create brand loyalty. Hence, banks are able to build stronger relationships, enhance service quality, improve call center operations and optimize in-branch staffing.

Customers benefit from Banking By Appointment because:• They can schedule an appointment with a bank representative quickly and easily when they

have a sense of urgency• The level of personal service provides a unique feeling of control and empowerment• There’s no waiting in the branch or on the phone to meet with a representative

Banks benefit from Banking By Appointment because they can:• Know the customer’s need before the appointment so they can be prepared to deliver

exceptional service and optimize staffing• Drive an ongoing stream of in-branch or phone appointments with high value• Strengthen customer relationships and long-term loyalty• Reduce “No Shows” to below 10%

Decision makers can use the Insight Analytics module to have clear visibility into the customer experience from the corporate level down to conversations with individual customers. Banks can use this analysis to improve retention by responding with “next best action” follow-up, and lower costs through more efficient management of staff and operations.

Banking By Appointment Involves The Following Steps:1. Setup branch locations and call centers; include the type of services you would like to offer (e.g. mortgage, savings, loans, credit, etc) and connect your banking staff’s Outlook calendars.The calendar connection is used to block out busy time and never allows double booking.

2. Place a “Click-to-Schedule” button on your website, emails, social media sites, in-product or QR code for print – OR – give access to your Call Center Staff to book appointments on behalf of your customers.

3. Customers can Click-to-Schedule an appointment for their specific banking needs. The banking rep is automatically emailed an appointment notification and it’s placed directly in their calendar. The customer is notified as well and a follow-up notification is sent as the day/time of the appointment nears. Bank managers can plan for upcoming appointments and use TimeTrade’s Insight Analytics module to track the customer’s experience and track the success the branch has had in satisfying the customer.


Banking by Appointment was able to help Needham Bank deliver a more personalized customer experience.

INDUSTRY: Community BankingEMPLOYEES: 170 PRODUCTS: TimeTrade’s Banking By Appointment

Needham Bank is a community bank, which offers the latest financial products, technologies, and services. As a privately held mutual bank, Needham Bank considers the communities it serves as its shareholders.

Before its deployment of TimeTrade, Needham Bank scheduled appointments through what Eric R. Morse, Needham Bank’s Vice President of Marketing and Retail Sales, describes as “the typical cumbersome approach where we’d ask customers if they’re available... leading to a painful game of phone tag and scheduling confusion.” Morse explains that “We needed a better solution. We needed a modern solution.”

Personal Banking Through “Banking by Appointment” in Every Branch

Morse reports that TimeTrade “helps make the bank and bankers as accessible as we can.” To foster accessibility, Needham Bank features the capability for customers to schedule an appointment directly from the bank’s website to quickly book a specific personal or business banker at a location of their choosing on a day and time that’s convenient for them. TimeTrade gives customers an easy way to gain access to their personal banker, without having to make repeated phone calls. This is a service that resonates with Needham Bank’s customers and prospects alike.

Appointments Deliver Higher Value

Needham Bank’s research shows that those customers who come in through web-based scheduling have been significantly more valuable than the bank’s average customer.

Comparing the size of customer deposits alone, those customers who make appointments through TimeTrade are outpacing the bank’s average depositor by almost 4-to-1.

John H. Whittaker, AVP Customer & Marketing Analytics at Needham Bank reports that those customers who make web- based appointments show up at Needham bank ready to discuss precisely what they want, and a banker is there ready to provide the answers or solutions to their direct needs. Whittaker also reports that Banking by Appointment has helped Needham Bank facilitate a level of trust which is not common these days in banking and helps to fulfill the bank’s ultimate goal: ensuring a banking relationship, which provides the utmost level of personal benefit.

Happy Customers = Loyal Customers

Since Needham Bank first deployed TimeTrade in 2013 the bank has not had any missed appointments. Customers and prospects have found it convenient to simply say why they want to come in, choose an available time, and show up, often delighted that somebody is waiting, knows who they are and why they are here, reports Morse.


Banking By Appointment: Case Study

Challenges They Faced• Encourage customers to visit bank branch locations • Deliver the very best personal banking possible • Succeed and grow in a very competitive bank market

The Solution • TimeTrade’s “Banking by Appointment” appointment scheduling lets customers easily schedule in-branch

appointments or phone calls with bank representatives.

Benefits Banking by Appointment provides to Needham bank• Streamlines and simplifies the process of scheduling appointments between customers and the bank • Connects customers directly with the banker who can best meet their individual needs • Increases customer satisfaction, loyalty and retention • Improves efficiency and time management of bank staff

“TimeTrade’s unmatched convenience for both the customer/prospect and bank employee has created tangible value on both sides of the equation. It is tough to quantify ‘service,’ ‘trust,’ and ‘convenience’ in dollar value, but we know TimeTrade has helped elevate our service to an upper echelon of convenience and satisfaction.” - Eric MorseFirst Vice President, Needham Bank

A Win Win for Banks and CustomersIn 2014, 17 retail banks partnered with TimeTrade to improve their customer experience and more than half a billion banking appointments have been made though TimeTrade’s online appointment scheduling platform, giving customers direct access to the right employees who can give them the answers they need before signing up for a new account, service or product.

The Smart Matching capability takes place during the very short interval of time the customer is interacting with the bank’s channel. The computation and analysis in those fractions of a second, during which the time the customer is clicking through the user interface, is crucial as this is when the digital touch point is being converted into a high value, one-on-one interaction. TimeTrade is just one of the many investments that banks are making to improve customer experience but it is key to revitalizing a more personalized banking experience.


Banking By Appointment: Case Study

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