Branch Banks are key to future growth
The financial success of any banking institution is inextricably tied to the success of its branches. Sector, the branches are now facing two major issues: how to keep customers and sell new; and, managing regulatory compliance. If these issues are not handled properly, the branch’s history. How do you avoid becoming a statistic? By providing solid training and support to ensure that the teller and platform staff are on top of their game.
Not The Same Old Bank Customer Anymore
Customer retention and new sales is difficult due to increasingly savvy customers. These folks are not afraid to shop prices and compare products. There is less loyalty to one bank over another. For customers, the ease of online banking calls into question the need to make a stop in the neighborhood of their profession. A time-pressure customer needs to have a reason to get in their car and drive to your bank, rather than sit on your home computer and log on to online banking services.
Suddenly “value-added services” has renewed purpose, as customers begin to question the value of opening an account in the local branch of their pay service fees, when they can get the same products and prices online, for minimal fees. Tellers and platform your staff are your encouragement. Customers are more likely to have a brick and mortar bank if they believe that the bank staff know and care about them, if they feel safe in the knowledge that their money is managed by someone they know. Pay fees for this service is more palatable if the customer finds favor.
A way to promote the benefits to your customers is by providing them with highly trained, experienced and knowledgeable professional staff Teller. Switch anonymity banking with a familiar, friendly face of your tellers. Strong Teller presence promotes customer retention, thereby increasing sales opportunities that lead to growth and profitability of banks.
The New Reality, The New Face
It is noted that the historic role of Teller has not been viewed as a “professional” status. The candidate pool has usually been drawn from a narrow demographic: young, high school graduate, with limited business experience. Couple this with traditionally low wages and high turnover and training and retention efforts begin to suffer. Create knowledge and experience Teller staff is hard to do when the bank has a revolving door of talent, and limited staffing budget. You are left with the recruitment and training challenges that must be overcome if the bank is to be competitive.
The new reality is Teller today is the backbone of retail banking success. Part of encouraging the growth of the bank is to recognize that tellers will have a front line commitment to sales culture, and be credible and product-savvy. They must balance a good customer service providers – warm, friendly, take – with the ability to know their customers well enough to recognize sales opportunities. Consider ROI to acquire new customers is 2.5%, but profitability store and reselling existing customers is 12.5%!
Unsurprisingly, Teller training needs to grow with the changing face of banking. Instead of simply teaching tellers how to process transactions and counting money – training should also teach sales techniques. Tellers your attention on customer retention by teaching them how to identify opportunities to retain existing customers of the bank with other devices. Case in point: a checking account holder must also be seen as a car loan or home mortgage customers. A new parent – anyone interested in establishing investment vehicles for college tuition. A Small Business Owner -. Opportunities to promote business loans or 401k vehicles
Why Chance Regulatory Risk
You only have to look as far as recent news to? see the rules go in the spotlight, with risk increased more than ever. There are more rules, and they are more complex in nature. Fines and penalties at an all time high, the importance of well-trained and educated staff is clear. Tellers are the first line of defense in harmony and security. They are often charged with the heavy responsibility to explain and in accordance with the myriad of rules and banking compliance issues. A teller staff is not present in the banking rules followed difference spotless compliance record and get slapped with the non-compliance fine
In these days after 9/11 -. Preserving bank security measures by assessing customers according to BSA and USA PATRIOT Act is paramount. Are you sure Teller staff is up to the task? Why put the bank at risk? Reduce the chance of compliance and safety responsibilities by ensuring Teller staff have easy access to up-to-date regulations and policies.
Online Training solution
Create both sales-oriented and compliance-focused Teller staff may seem like a daunting task, but it is attainable if take advantage of existing technology.
Affordable and cost-effective, online teller training provides a consistent, professional training for tellers, but also functions as an always-accessible reference rules. Imagine cost- and time-saving advantage of the joint training, branch manager or supervisor time to work hands-on with the new employee vs online training. Set easy to understand, people are still attractive online training is designed to teach and reinforce complex banking policies, procedures and rules is a win-win solution.
The Final Word
Online teller training solution that contributes both to improve customer retention and new sales and reduce the body to take responsibility, but maximize the ability valuable commodity – Teller staff you. new face of banking