Price-value is no longer the only factor that influences customer satisfaction. To improve customer loyalty, financial institutions are adopting techniques that target enhanced user experience. Digital signage is an example of technological solutions available, and financial institutions like banks are leveraging its use to help interact with their customers more.

Why is digital signage important in banks?

Traditional banking techniques are outdated. The use of digital signage solutions for banking is what such businesses need to offer a memorable experience to their customers. These upgrades play a massive role in improving customer experience in different branches, which ultimately helps a business gain a competitive advantage.

Advantages of digital signage in banks?

Bank managers can incorporate digital signs to engage with their customers since digital signage technology provides information in a convenient, relevant and accessible way. The advantages of digital signage in financial institutions include:

Improved communication

Successful business owners appreciate the importance of clear, transparent and thorough communication lines with customers. For financial institutions, effective communication offers relevant information to the necessary parties, for example, sending specific messages to customers in real-time. This way, clients will always be aware of any updates. Moreover, digital signage provides a platform for bank owners to improve collaboration with other team members in the institution through internal communication. Essential information like training and policy updates can be distributed remotely to all branches, thus saving resources. The flexibility of digital signage solutions makes this technology the perfect mass broadcasting tool for any financial institution.

It is an efficient branding strategy

Digital signage allows bank owners to gain a competitive advantage by displaying their brand and vision to potential customers. It is easier to portray key features a bank offers, like financial transparency, through screens. You can enhance customer loyalty and trust by using digital signs to share your brand's vision. Moreover, the opportunities are limitless because you can include anything in your content, for example, the posts you share on social media platforms. Furthermore, you can replicate the content to all your branches so that customers know the services and products you provide.

Effective and efficient updates

Compared to static posts, digital signs provide a faster, convenient and effective way of communicating with customers and employees concerning any operational changes. You only need a single remote location to make the changes, and the system will automatically sync with the other screens on different bank branches. These benefits can help you save on human resources and travel costs without having to visit each location to make adjustments physically.

As a bank owner, you will not need to worry about delayed updates that might lower your customer satisfaction ratings. Crucial data like the latest currency conversion rates are relevant to banks and customers. Because the information is constantly changing, digital signage is an effective way of sharing the message with your clients.  Moreover, digital signage allows for offline playback after uploading the relevant content to the players.

Improved in-store experience

Financial operations involve a heavy workload, which may sometimes result in long-customer queues at the tellers. However, the online space has enabled customers to access their account details through touch screens. This way, customers can serve themselves in minor tasks before seeing a teller. Moreover, digital signage allows customers to search for relevant information concerning the bank, like services offered to know what teller they should see. Instead of queueing in the bank, customers can get a token number from the touch-screen, and a monitor will call them out when their turn comes. 

Increased business revenues

Upselling and cross-selling in waiting lines are possible through digital signage advertisements. Any customer that is in the bank is a potential client. Thanks to the token-number-based queue system, customers have nothing else to do but wait for their turn. Using this opportunity by displaying services and promotions on-site can help lure customers into signing up for different deals, thus increasing business revenues.

Improved operational efficiency

Print advertising does not offer a faster spread of relevant and urgent information. Using digital signage displays can help save time and resources by lowering marketing and advertising overhead. Bank owners can now publish content from one location and sync it to other branches, quickly saving time and money.

Accurate performance analysis

Digital signage enables bank owners to keep track of their department branches by creating a performance dashboard that analyses each work environment. Your employees will strive to have the best overall performance, a strategy that will create healthy competition among the different branches.

The most important thing that will influence the growth of your business is to collaborate with a trusted digital signage service provider to customize the technology in a way that is specific to your bank's needs. Start using digital signage solutions to transform your financial services to the next level.