Digital Signage in banking: enhancing communication and customer experience
When we think about the purpose of Digital Signage, “advertising” is usually the first word that comes to mind. But in the banking sector, screens and kiosks offer far more than just advertising—they are valuable tools to improve branch efficiency and create happier customers. How? Let’s dive in.
In most banks, communication is still handled in an analog fashion. Promotions for the latest financial offers are often limited to teller staff or to outdated brochures tucked away in a dusty corner of the branch. Worse yet, you might find posters on the walls promoting offers that no longer exist.
The burden then falls on the teller to convince the customer to look into current offerings. The problem? Many of these offers are nowhere to be seen, neither on posters nor in brochures.
Digital Signage makes handling situations like these far more efficient.
Firstly, because it can convey far more information than any person or brochure could.
Secondly, because dates, data, and benefits are always up-to-date.
Another advantage is that it allows customers to learn about offers and products while they wait, without the teller also needing to serve as a salesperson. This means that if a customer does approach the desk with questions about a specific offer, they’re already genuinely interested. As a result, the staff member can skip the sales pitch and go straight to assisting with enrollment.
In general, Digital Signage greatly enhances the customer experience in the bank branch. And today, delivering a positive customer experience is just as important as offering competitive products when it comes to fostering customer loyalty.
In this article, we’ll examine how you can use screens and kiosks to elevate the experience in a banking environment.
Digital Signage in banking: 6 key benefits
Good reasons to use Digital Signage in a banking office? Lots of them. The fundamental ones? Six. Below is a summary list, but if you read on we will go through each point in detail.
- Brand building
- Queue management
- Automation
- Communication
- Efficiency improvement
- Improving in-store experience
1. Brand building
Digital Signage helps convey your brand’s values and messages within the branch. Every brand has its own story, and it’s essential that videos and images communicate this to build trust and loyalty. How? By focusing on transparency.
For example, allowing a customer to read the details of a promotion directly on a screen—without feeling rushed to sign by the teller—gives a sense of reassurance and confidence. This can increase the likelihood that they will open an account with your bank.
Screens and kiosks also create better opportunities for up-sell and cross-sell, as they grab the customer’s attention more effectively than static ads. But we’ll dive deeper into this later.
2. Queue management
Long waits can be a huge waste of time. Many bank branches now employ digital queue systems, which optimize wait times and integrate seamlessly with Digital Signage.
While waiting for their turn, customers can view information, entertainment, advertisements, investment tips, or live news on branch screens. This significantly reduces the perceived wait time.
3. Automation
One of the major advantages of Digital Signage is the ability to plan and schedule communications for the entire month—or even the entire year—in advance. This is much quicker and more efficient than printing, displaying, and constantly replacing paper materials. The saved time and energy can be redirected to the branch’s core activities.
4. Communication
Digital Signage meets the diverse communication needs of a bank branch.
Screens and kiosks are excellent tools for internal communication, for example, to remind employees about upcoming training, update them on policies, or share weekly data and statistics. This improves corporate communication, team collaboration, and alignment. Additionally, Digital Signage allows for real-time updates and last-minute corrections if needed.
But this technology benefits external communication as well. Digital Signage allows banks to communicate with customers in a more engaging and direct way, distributing promotions and offers based on regions and time zones.
While institutional messaging is important, the power of Digital Signage should not be limited to it alone. Information-based content can be mixed with emotional and entertainment content to keep customers engaged, even those who visit the branch frequently.
Considering that financial information constantly changes, paper materials often struggle to keep up. This is especially true for urgent announcements, which are much easier to communicate through Digital Signage.
The cost to implement Digital Signage? Much lower than continuing with static advertising.
Why? Fewer people are needed to manage a screen network compared to those required for the creation, approval, and printing of paper materials.
5. Increased efficiency
One of Digital Signage’s purposes is to streamline communication across all bank branches in a quick, easy, and centralized manner. This technology allows you to control what each branch’s screens display without visiting each location. This not only saves on costs but also allows you to allocate resources more effectively.
Additionally, Digital Signage lets you pre-set weekly, monthly, or even annual content schedules. Plus, it integrates seamlessly with your analytics, data, and reporting software, so content updates automatically, without manual input.
6. Enhanced in-store experience
Today, most banking transactions can be done online. This means the in-store experience needs to differ from what was offered a decade ago. How? Read on.
Banks can install touchscreens that let customers access information about their accounts or perform transactions not available through online banking. This not only reduces the teller’s workload but also ensures the customer has help if they can’t complete the transaction alone.
The benefits of Digital Signage in a bank branch are clear.
Switching from printed materials to screens and kiosks is beneficial for everyone: board members, employees, and customers.
In short, Digital Signage reduces costs, increases efficiency, and makes everyone happier.
Moreover, using Digital Signage sends a message to both new and existing customers: the bank they’re choosing is dynamic, modern, and always up-to-date. This is a positive message for brand identity. After all, adaptability and flexibility are essential pillars for any successful business. Why not make them the stars of your bank branches?