Check Out Your Checkout | Bank Innovation

By topping the 2012 Customer
Service Hall of Fame, Amazon made it three in a row. Sadly, a leading global
bank too made a record of sorts by retaining the top position in this year?s
Hall of Shame rankings, in which four other financial institutions brought up
the rear.

Here?s a sample of some other
horrifying statistics. Between 5 and 15% of bank customers leave the branch
without being served. (Who can blame them for wanting to move?)? In one of
its reports, Javelin claims that in a recent year, faulty processes prevented
nearly 6 million customers ? almost 1 in 2! ? from opening an account online.
Instead of saving time, as they hoped to do, these customers ended up queuing
at a branch or dropping out altogether.

Although poor customer service can originate anywhere, it ends up
without exception, at the last mile. For banks looking to clean up their acts,
the ?checkout? is the place to start.

Luckily, there?s already a retailer or two, leading the way.
??

Apple Stores (surprise, surprise!) allow customers to register
their purchases from anywhere within the store, using a handheld device. A home
improvement products retailer speeds up checkout by scanning goods inside
shopping carts before they reach the cashier. Online retailers are trying to
arrest dropout at checkout with free shipping and a number of shopping friendly
tweaks to their sites. And JC Penney plans to rid its stores of checkout
counters within two years, by replacing them with mobile checkout, RFID
tracking, Wi-Fi technology, and the option to self checkout.

A large Indian private sector bank has launched a tablet app for
priority customers through which they can place a request online, and go on to
collect it from the branch without waiting in line. Now, if only other banks
would follow suit.

A vendor of branch automation solutions has recently come up with
an app, which tells customers how busy their bank is at the moment, how long
they might have to wait to be served, or what?s the best time to visit.?
Potentially, the solution could go a long way in relieving employee stress and
user frustration. But will the banks bite?

?

Related posts:

1. PR: Digital Check Announces New High Volume, High Speed Back Counter Check Scanner ? BranchXpress? BX7200
2. PR: Digital Check Announces Advisor? Check Scanner Remote Monitoring and Management Solution
3. USAA To Allow Check Deposits Via iPhone

Original Post: http://www.infosysblogs.com/finacle/2012/09/by_topping_the_2012_customer.html

Posted on September 14, 2012 at 12:07 am under Newswire. Follow this entry via RSS 2.0.

Source: http://bankinnovation.net/2012/09/check-out-your-checkout/

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