Blog

3 reasons why FIs need a drive-through transformation strategy

May 26, 2014 by Terrina Rishel — CEO, ATM Authority, LLC

Consumers have come to expect that they can run virtually all their errands without getting out of their vehicle. Today businesses in almost all industries accommodate busy customers with drive-through windows.

Today is commonplace to use a drive-through at the post office, dry cleaners, coffee shop, grocery store, liquor store, fast-food restaurant, and pharmacy. Some creative businesses have even given us drive-through weddings, legal services, dog grooming, libraries, prayer booths, emergency rooms, art galleries and even funeral homes.

Banks have been offering drive-through service since 1928. And their drive-through lanes look much the same today as they did 40 years ago. An FI that wants to create a successful drive-through consumer experience must understand that customer expectations have evolved, and they must develop a strategy that facilitates changing needs.

Why FIs need a drive-through transformation strategy:

It’s inarguable that we live in a drive-through world. Consumers expect services in a drive-through to be just as robust as they are inside a business establishment. They also expect these services to be efficient, quick, personable and available on demand. Limited hours and pneumatic tubes do not meet the expectations of today’s consumer.
New technology allows FIs to lose the pneumatic tubes but keep traditional teller services. Pneumatic tube equipment has been around since the late 1800s when the Victorians used it to deliver mail. The experience is adequate, but it doesn’t truly engage consumers. FIs need to perform an analysis of available options that allow up to 24/7 access to traditional teller services and improve the overall experience for customers seeking assistance with their banking transactions.
New technology gives FIs greater choice of locations and service hours, and helps them compete at a higher level. FIs that have adopted truly interactive video teller devices have seen positive effects on their customers’ drive-through experience. They have discovered that by eliminating pneumatic tubes, they gain the flexibility of placing their drive-throughs virtually anywhere. The teller no longer needs to be able to see the drive-through lanes, and video technology means that the call center teller doesn’t need to be in the same building, city, or even state, for that matter.

Mobile banking and ATMs are popular solutions, but there are still many transactions that require a teller.

So, what do consumers want from their drive-through experience? They want to be able to use it at their convenience — without restrictions. As with a traditional teller, they want a personal, friendly experience — that doesn’t require an ATM card. They want technology to provide a timely service that doesn’t require a deposit slip. And many want to receive an image of their transaction on a receipt sent to them by email or text.

FIs that have discovered the benefits of video teller-controlled devices have allowed consumers to bank up to 24 hours, seven days a week, with better locations and a superior experience.

Some have even found a way to allow customers to still get their coveted lollipop or dog treat by installing dispensers next to the teller device.