What is the branch of the future?
By Brandon Eckhart, 3D Visualization & Concept Development, DEI Incorporated
The branch of the future. is a request we regularly get from clients looking to showcase technology in their space. However, rather than focusing on what technology to use, a better question would be what role does technology play in bettering the experience? From a visitor’s perspective, one typically enters a branch when they need to talk to someone about a specific financial issue. With that in mind, any technology that allows employees to be more accessible is a worthwhile investment.
Many seem to agree that AI is a big part of the future of technology. Since it can speak for itself, I thought it would be an interesting experiment to ask ChatGPT: how will AI affect physical banking spaces in the near future? Here’s its response:
AI is poised to significantly reshape physical banking spaces, leading to a more efficient and customer-centric experience. One of the most noticeable changes will be the reduction in the number of traditional teller roles as automated systems take over routine tasks. AI-powered kiosks and machines will handle transactions such as deposits, withdrawals, and account inquiries, allowing customers to conduct these activities swiftly without human assistance. This shift will not only reduce wait times but also enable banks to optimize their workforce, focusing human resources on more complex, value-added services.
In addition to enhancing operational efficiency, AI will revolutionize customer interactions within physical bank branches. Smart branches equipped with AI-driven systems will offer personalized services as soon as a customer walks in. For instance, facial recognition technology can identify customers and pull up their profiles, enabling staff to provide tailored services and recommendations. Augmented reality (AR) experiences, guided by AI, could also be implemented to help customers understand complex financial products and services, making banking more interactive and engaging. These innovations will transform the traditional banking environment into a dynamic space focused on customer engagement and satisfaction.
It would appear we’re on the same page: reducing the mundane tasks of employees makes them more available to provide an experience tailored to the needs of anyone entering their branch. Anything furthering this goal is truly the branch of the future.
