RETAIL DELIVERY ITM-UNIVERSAL BANKERS- ALL THINGS DIGITAL. Rebecca Winslow Gorham Savings Bank

Transcription

1 RETAIL DELIVERY ITM-UNIVERSAL BANKERS- ALL THINGS DIGITAL Rebecca Winslow Gorham Savings Bank

2 The concept of the Universal Banker has been talked about for a few years now. While levels of expertise, training and utilization will differ from Bank to Bank, it s we all have common goals. Grow market share with new clients, deepen relationships with existing, and reduce branch delivery cost. In our case the introduction of the Universal Banker complemented our ITM Strategy. The Bank s strategy had 3 key objectives: Reduce delivery cost by way of FTE reduction- Expand hours in an affordable way Transitioning branch bankers to more of an advisory role Grow transactional deposits

3 Evolution of the Universal Banker (ABA Bank marketing 7/16) As mentioned above, the level of expertise varies from Institution to Institution as well as within your own branch network. Generally, banks are utilizing one of three varying degrees of UB s. Cross-training (simply cross training additional tellers) Full on Universal Banker staff (but no branch transformation, typically they are scheduled specific times to be either a teller or out at a desk they may or may not float back and forth) Complete Universal Model (complete with additional technology like recycler pods, ITM s and physical transformation to the more open concept where a branch banker greats the customer and owns them start to finish regardless of the request.

4 Gorham Savings Bank is currently in phase II of this evolution. We made a conscious decision to move in this direction two years ago as a part of our ITM strategy and have learned a great deal along the way. First and foremost- you need to review data, data and more data! Branch and Customer data: Teller transaction # s per location (both lobby and drive-thru) New Account # s per location Average services per day/week/month i.e. problem resolution, debit card re-issue etc. (typically 6/1 based on new account # s) Loan originations What is your customer mix % (retail vs commercial) Employee data: Attrition rate in the branches Average length of tenure Capacity of current employees (confidence, emotional/professional maturity, customer centric, critical thinking skills, etc.) Do you have a defined career path for employees Employee survey to determine what motivates them

5 Attrition for many FI s branch attrition rates run as high as 40%. It s counterproductive (and costly) to invest in training and development of universal bankers if they are not motivated to stay. Tenure minimum of three years (in general) to build a Universal Banker. Capacity not all employees will possess the necessary skill set to Universal Banker become a Career Path must be defined to keep branch bankers engaged and committed to the Bank

6 Today we average about 50 branch employees, of those only 14 are Universal Bankers. To ensure you have high quality advisors for your clients it takes time. Classes related to services, products and procedures can be taught however, nothing can replace the value of hands on experience over time. Classes and certifications found to be helpful: Universal Banker certification class offered through ABA and CFT (Center for Financial Training) Principles of Banking Law & Banking Consumer Lending Common career path for GSB branch bankers: Year 1 Entry Level Teller Year 2 New Accounts Year 3 Consumer Lending

7 Employee Engagement: Ask their opinion as often as possible Assign special projects Include them in product development Use them as focus groups (especially with millennials and anything digital) Assign a mentor early on and utilize as a mentor once they have progressed Invite them to after hour events

8 INTERACTIVE TELLER MACHINE (ITM) Pros/Cons

9 ITM Pros: Affordable way to extend hours Ability to conduct most transactions of a traditional teller Ability to reset pins and OLB Passwords Technology with a personal touch ITM Cons: New to market, very little customer awareness New Technology with glitches and limitations Lack of Knowledgeable tech support in Maine Un-able to integrate with core

10 QUESTIONS-