The Most Pervasive Problems in getme
getme money made easy When did you ever dream you would be doing your banking via the internet on a phone from anywhere at any time. Well today you can.
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There are certain trends which are showing themselves in the banking industry in 2017 and as we get closer to the end of the year, this is what you should be seeing from your bank moving forward.
The first trend you have probably noticed over the past year is the digital trends that have been added to your banking experience. From online banking, which has become easier and more simplified, to mobile banking using a banking app to check balances and do transfers. Let's not forget that these days you can even send money to a contacts phone number rather than an EFT, it really is that simple. Paying a contact can save you valuable time and energy when it comes to your banking experience.
Another thing you have probably noticed is the number of branches closing down in your town or area. This is a recent trend. Banks are pushing clients towards internet, mobile and telephone banking and the number of clients actually walking into a bank to do their banking is very limited.
No one works with cash any more. Clients or debtors pay directly into your bank account and all your bills are paid directly from your account. Carrying cash is a thing of the past, so having a branch in your nearby area is less important. If you have an enquiry on your account you aren't going to go in branch, you are going to pick up the phone and speak to the call centre to get immediate answers that you need.
Bankers are going to be qualified professionals with years of experience behind them. You are going to see more and more bankers being highly skilled individuals who have a successful banking career. They are going to take on more responsibility with their clients and handling client accounts over simply opening accounts and assisting with applications for various financial products. This has already been seen in the private banking sector where private bankers handle their clients entire banking portfolios, making recommendations and offering assistance as needed.
You are going to see banks focusing more on clients wealth management. Offering them banking services to help them increase their wealth and manage their wealth effectively. More banks are already coming up with useful tools and applications to help clients manage their money better, such as budgeting tools and more. Like private banks you are going to see the high street banks focus on retail banking, selling financial products to their clients to improve their wealth and help them with their wealth management moving forward.
The final trend which is becoming apparently clear in global banking is that clients aren't going to be restricted by banking in only one country, they are going to be able to bank with banks worldwide, especially if they have investments in foreign countries. Their income can be banked into their overseas banking account, enabling them to make payments easier and reduce the risk of heavy international charges.
It used to be quite straightforward, sometimes literally - go straight, move forward. Till very recently, the banking experience, supported by bank floor plans or layouts, presented areas demarcated into blocks, counters to separate bank personnel from customers (at times, using metal grills for bank tellers), a rectangular island of bank forms and a square-shaped vault or locker room. Things have changed. And quite significantly. Banks are now keeping up with the 'digitalisation' of life in general and the alterations in the banking world due to mobile phones, online banking and a more measured approach to what customers want in their bank dealings. Bank layout design has evolved to a more casual look and feel with the help of high-quality architectural design drafting and other retail design drawings.
For many years, bank layout design was as interesting as a small fortress. This was ostensibly for people to feel secure about their money. As ATMs made an appearance on the scene, they were positioned next to teller counters for security reasons, but this sometimes interfered with the traditional flow of the layout and they were pushed away and out. Then, bank branches wanted to move ATMs back inside, seeing them migrate from near the front of the bank, to the lobby and as replacements for human tellers. Around this time, teller 'pods' arrived in a previously linear world of teller stalls. The concept was to create a zone for conversation rather than transactions alone. This is when straight lines in bank layout design began to flow into approachable, softened, welcoming, curved zones.
Bank branches have been considerably affected by mobile and digital services over the past decades. Rather than completely give up the ghost, banks have learnt to innovate and adapt, trying a variety of approaches. Many are minimising transactions at their branches and turning towards a casual cafe vibe. Retail banks and their architects are changing space layouts to mimic Starbucks-type lounges and seating areas.
In Spain, a mobile-only spinoff bank was developed specifically for young people. Offering online and offline content for customer interaction, it included a range of activities for the young, such as gaming sessions, live shows, concert, movie screenings, video art shows, presentations, etc. Somewhere in the mix were exclusive bank activities, which included communicating benefits and discounts. The cafe was open daily and had giant screens, areas for workshops, a large auditorium and ATMs.
The tech generation can also enjoy a lifestyle space at a popular Singaporean bank, which is similarly designed to the one in Spain, with an open layout, a relaxed ambience and the welcoming aroma of fresh coffee. The experience is primarily digital, with the space featuring a VR corner for retirement planning, and deposits and withdrawals can be made with video tellers. It even has a humanoid robot to help customers use the machines.
An American bank integrates touch screens, augmented reality, video walls and much more, for interaction rather than transactions. This one has an interactive virtual tour, including a fun concept known as a 'virtual reality showroom', which lets customers experience premium cars using VR.
Some banks are open seven days a week and can include a hub for home loans, a travel zone, an area for kids' savings schemes, a cafe, etc. The home loan hub explains mortgage procedures, and in the travel zone, customers can get help and advice on how to plan a trip, how to order and exchange currencies and how best to pay for things while they travel. This kind of interaction takes place in a relaxed, open space, encouraging customers to browse, ask questions and take their time.
So, the traditional bricks-and-mortar bank branches, with a safe room, a stationery and records room, a locker room, the branch manager's cabin, full height cabins, low height counters, tables and ATMs in the corner are on their way out. The conventional style of banking is at a crossroads, where a larger number of people are veering towards the comfort of online and mobile transactions. To retain customers and gain new ones, banks must make people feel relaxed and unrushed, while still be able to offer fast-paced transactions when so desired.
Retail designers must learn to create spaces which result in such an environment, adapting to how customers think and behave. This may involve research. Several banks have come to realise the importance of customer feelings and attitudes towards them.
A well-known Canadian bank spent considerable effort in research to find out what customers wanted before they began redesigning their branches. Their conclusion was that most customers felt a certain sense of intimidation in traditional-style banks. There was a sense of powerlessness in one's own financial situation. People preferred open communication and easy, transparent access to products and services, similar to their own online experiences. Customers tend to feel secure when they can easily connect to personal advisors in banks.
The methodology to achieve customer confidence involved:
This translated into practical design features, such as:
By moving banking activities away from traditional, closed-off, hidden cabins and cubicles to open seating, people feel more empowered and less threatened. Traditional dealings 'over the counter' was a physical symbol of a 'me-versus-the bank' outlook. Removing the counters resulted in a removing of barriers and eventually a more equitable and profitable interaction between the staff and customers.
Including elements, such as tablets, helps streamline the move from online banking to in-branch banking. Those here more familiar with apps and online banking may avail of such benefits at the branch while having any queries immediately attended to.
Meeting pods help balance transparency and privacy. While placed in an open plan, meeting pods offer privacy through customised furniture in a relaxed setting.
Technology has played a considerable role in transforming the banking sector, especially online banking with smart phones, something a whole new generation of customers are wholly comfortable with. Look no further than what customers experience in a popular consumer electronics and software store. It has always featured:
This modus operandi works extremely well in banking also, and certain layout design elements that help move activities and set the ambience include the following:
Bank layout design needs to recognise that being modern means being eco-friendly. An interior design that features eco-friendly materials, such as recycled wood, glass, stones, solar panels and green walls, communicates that the bank's approach is both modern and practical.
A meaningful and profitable retail experience at bank branches can be provided for customers at branches as a result of comprehensive design research and accurate architectural CAD services. With the right architectural drafting services provider, precise, detailed and cost-effective retail drawings can help engage, serve and educate customers and ultimately improve the bank's profitability.