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Financial institution members call for new banking technology

Banks or credit unions looking to invest in self-service coin counting machines may be on the right path to pleasing today's customers. The financial industry is having to adapt to new changes, and continuing to provide exceptional customer service during times of transition is always a challenge. But as more people request that banks and credit unions invest in the technology that will make their banking experience easier and more convenient, financial institutions know what they need in order to keep members happy.

Community banks require a change
BAI Banking Strategies pointed out that community banking now requires the right technology, both in-person and online. Local credit unions can benefit from coin counting machines, money counters or check processing solutions necessary to serve individual and business members and create a positive experience for them. Community banks should no longer be the traditional picture that many paint them to be. Having a customer-centric focus and maintaining relationships with all members is still a No. 1 priority, however this also means investing in the digital solutions that will procure lifelong members. BAI stated banks and credit unions may need to rebrand themselves in order to keep up with customer demands and maintain a successful institution.

Accommodating the customer is key
Some members still carry cash around and banks and credit unions have to accommodate cash use. It is important to remember that the initiatives of the institution has to reflect the needs of the customers. This may mean updating the website, starting new mobile banking options and purchasing higher-quality self-service coin counting machines. New trends call for new banking initiatives and the institutions that are willing and ready to adapt will see success over a longer period of time.

October 7, 2013