They’re not just pretty; Tablets can empower a bank to deliver a better customer experience.
Offering a collaborative, electronic process can meet your customer’s expectations and evoke a sense of loyalty. This can translate into greater customer retention and wallet share. You may even satisfy a broader customer demographics.
Whether a customer is opening a new account, applying for a credit card or making an account change, tablets offer an interactive way for customers and representatives to complete a transaction.
Information can be reviewed electronically and on-screen selections made; Identification documents can be photographed and embedded in the PDF; Forms can be securely e-signed with a stylus or fingertip; Finally, the completed and electronically signed forms can be sent by email to the customer, archived, or forwarded to the next step in the bank’s workflow.
Using a fluid process can do more than satisfy a bank’s current customers, it can help the organization attract younger and more affluent individuals.
According to research data from CEB TowerGroup, “Banks that are serving a customer with an average age over 50 must also find ways to show that they can provide the kind of service appealing to most consumers who are under 50. In addition, tablets are especially appealing to another target market for most FSIs - households with an annual income over $75,000.”
Three key advantages
Although tablets are considered mobile devices, they have a place in a bank’s multiple business channels, including the branch. In fact, tablets could close the gap between the customer’s satisfaction rating and the bank’s perception of their service. In surveys conducted by CEB TowerGroup, 55% of banks ranked their in-person service as excellent, while only 18% of customers gave the banks the stellar grade.
In addition to improving customer service and potentially appealing to a broader audience, tablets offer banks other important advantages.
Consider the following:
The Paperless Branch: By adopting an e-process that includes electronic signature capabilities, there’s no need to print. The process begins and ends electronically, saving banks the cost associated with managing paper.
Multichannel Support: The same tablet application can be used in-branch, in-field and even by customers in the comfort of their own home. A similar process across multiple environments makes a bank’s multichannel strategy a reality while contributing to a better customer experience.
Collaborative Process: Instead of a stiff customer/representative interaction, tablets promote collaboration.
Tablets are versatile devices that banks can leverage to improve the customer experience and benefit the organization by implementing paper-free, efficient processes.
There are many devices to choose from and the core banking platform vendors are developing tablet-specific apps with embedded e-signature capabilities. There’s no reason to wait.
(Tablets in Retail and Commerce will be a key session at TabletBiz conference & expo in NYC on Nov. 13)
Rodney G. Vesling is President of SOFTPRO North America and chief marketing officer for SOFTPRO Group, which makes electronic signature and signature verification software.