Self-Service Banking Has a Defining Moment With COVID-19

  • Doug Brown, Senior Vice President & General Manager at NCR Digital Banking

  • 22.05.2020 06:15 am
  • Digital self-service banking

Consumers and businesses around the world have increasingly shifted to digital self-service banking due to convenience. The ability to access money and banking services anywhere and anytime has proven essential. For banks and financial institutions, it’s full steam ahead on expanded self-service.

As the global coronavirus pandemic began, a poll from Lightico found 82% of respondents said they were concerned about going to their local bank, with 63% of customers not currently using digital banking saying they’re more inclined to try a digital app or self-service kiosk than before the coronavirus pandemic. Those that were on the fence about online banking, or interactive teller machines that connect you via video to a teller instead of entering a branch, are now making the switch.

It is imperative that financial institutions expand self-service banking technology, and help their customers learn how to best use it. Banks and credit unions can use digital to build trust and strengthen customer relationships, offering simple self-service banking options and tips. 

For our customers who utilize Digital Banking from NCR, we offer a digital campaign marketing starter kit. It offers content you can customize using your logo and branding, including contact center messaging, branch signage, digital prompts, statement inserts, social posts and other content. 

Banks and credit unions are highlighting the benefits of mobile banking apps for quick account updates and the latest information on branch hours or availability. They’re also using interactive digital chat and video technologies to stay connected. 

Others are using their digital banking platform to remind customers of branch hours and ATM status and now very importantly, to schedule an appointment for a 1:1 in-person meeting. 

As consumers face financial concerns, many financial institutions have taken to their websites and social channels to share ways they’re offering support with waived fees, PPP loans, delayed payment options and funding assistance for small businesses. 

They’re also providing or linking to guidance on how to avoid coronavirus-related scams, how to rebound from a financial hit and how to prepare for other events that could impact banking in the future.

It is crucial that banks and credit unions offer a seamless, intuitive self-service experience for their customers and members to maintain trust and the connection to their customers. Digital powers self-service now more than ever.

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