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Financial institutions rely on technology, but need to incorporate human element

Financial institutions must walk a fine line when it comes to integrating the latest technology while still offering individuals the best possible in-person service options. While new technology can certainly make operations run more smoothly, they aren't the answer to every problem a bank or credit union faces - sometimes, personalized service is also key. No matter what an operation's size or how many people it serves, it must take these considerations into account to be as successful as possible.

Technology can prove beneficial
It's undeniable that the latest technology can be extraordinarily beneficial to financial institutions and assist them as they better accommodate consumer needs and desires. The ATM, for example, has proved to be an advancement most people use quite frequently and has helped banks and credit unions shorten lines and more quickly serve visitors who have more urgent or complex matters than simply withdrawing cash or depositing checks.

However, ATMs aren't the only area in which financial institutions can provide technological solutions to their patrons and offer them the satisfaction of taking care of their needs by themselves. By giving individuals the opportunity to have their change counted by a self-service coin counter, banks can shorten long lines and wait times. This increases customer satisfaction and keeps people from standing around holding heavy jars of money.

Remote deposit capture technology is another growing trend that can positively impact banks and credit unions. By offering a service that allows commercial clients to skip trips to their financial institution by using a high-speed check scanner and software solution, financial institutions can provide organizations with additional service options - something  that will boost their reputations and their balance sheet.

Individualized service still key
Providing people with the most up-to-date service options is key - failing to integrate RDC, a self-service coin counting machine and advanced ATM options can result in poorer overall experiences. However, that doesn't eliminate the need for bank and credit unions to ensure their in-person services are optimized. Tellers and customer service representatives still need to be able to provide fast, ideal solutions that will keep members from becoming frustrated with an operation and switching to a competitor. By investing in technology, but never ignoring the important human element of business, financial institutions can keep their members and clients satisfied.

August 21, 2013