Historically, banks may have hesitated to adopt emerging technologies, especially for their own internal usage. There were often well-intentioned reasons for this, such as security, privacy, and regulatory concerns. As a result, branch banks often faced lagging communications speed and efficiency.
However, some branch leaders should view the arrival of COVID-19 – with its unique performance pressures – as an opportunity driver for communications and operations transformation.
For example, the pandemic has further stressed outdated communications processes and systems that were already struggling to keep branch staff aware of new offerings and other pertinent business happenings. Yet, this is possibly the most crucial of times for bank executives to improve manager-employee interactions. Therefore, COVID-19 provides a compelling case to stop delaying modernization and embrace tools that can facilitate secure, reliable, and audit trail-enabled mobile communications among all staff, regardless of physical location or role.
This simple innovative step will immediately empower branch networks to be nimbler— and more responsive to other non-pandemic emergencies or events, such as hurricanes, floods, blizzards, and so on. And, if you choose communications technologies that are highly scalable, you can adapt them as needed over time to help boost operational compliance and efficiency as well as branch associate productivity and morale – all of which can lead to a more substantial return on investment (ROI).
I realize that you may be hesitant to make any drastic changes right now. The pandemic has been quite disruptive to operations, and you don’t want to do anything that may compound operational challenges. But know that remaining on outdated systems presents far greater risks today than upgrading to a modern mobile communications platform. Communications transformation is something bank leaders must embrace if they don’t want to run the risk of miscommunication – or missed communications – among staff. Plus, this is a great chance to enable improvement and future agility in the face of the next national (or local) crisis.
Traditional banking communications were based on location-centric processes, typically using paper, phone and email channels. This approach was always inadequate for today’s branching needs. According to Reflexis’ International Branch Banking Employee Survey:
Given the current state of branch transformation, these inefficient legacy communication strategies are no longer viable. From managing schedules to communications and training, employing a consolidated and agile approach to branch operations can increase efficiency and growth, allowing branches to operate more holistically.
The primary issue is that many banks lack a common communication platform and toolset to enable agility. Currently, front-line associates improvise with their own tech workarounds, using unapproved or non-sanctioned apps such as WhatsApp or personal SMS. This situation can have unintended negative consequences:
Today, perhaps more than ever, branch operations managers must ensure that their communications reach the right staff at the right time so that the most appropriate action can be taken to the benefit of the bank and its clients. But, without better communications tools in place, it’s unlikely their teams will become aware of, much less be able to respond to, the ever-changing and expanding demands of today’s branches.
Fortunately, there are on-demand mobile software solutions available to rapidly address these problems – and support associate wellbeing, engagement and morale. If you want to improve employee communications, drive better customer experiences and increase branch success, now and into the future, look for mobile applications that:
If you need to transform your branches’ communications processes and systems but want to ensure it does not become burdensome on IT, employees or customers, give us a call. We’re happy to talk with you about your mobile technology options and help map out a transformation plan that will enable you to achieve your goals.
Brian Wallace serves as the General Manager of Banking at Reflexis, which was acquired by Zebra in 2020. He has over 20 years of experience developing and executing operational strategy and technology solutions across both retail and banking.
Brian founded the Branch Workforce Planning team at JPMorgan Chase, transforming its capabilities to deliver improved scheduling practices, regulatory compliance, wait times and customer satisfaction. While at The Home Depot, Brian was responsible for over $250MM of cost savings through driving efficiencies across store operations, supply chain, and merchandising.