Financial institutions are often considered conservative, but the modern bank is evolving.
Digital signage for banks is one facet of a transformation that is seeing banks model themselves more and more like retailers.
With day-to-day banking increasingly handled online, financial institutions are rethinking their physical branches. In-house technology has a key role to play.
Signage as an aide to financial education
Today banks and financial institutions are comfortable spaces where consultants guide customers through the sometimes complicated world of finance. With transactions often made on the web or through mobile apps, bank visits tend to be reserved for when customers are seeking expert advice. Digital signage for banks is a complimentary educational tool. Information on subjects like mortgages and ISAs – that can be perceived as confusing – might better be conveyed through infographics or videos on screen. Bank digital signage can be used to offer digestible introductory information to a subject that customers can then further pursue in the form of leaflets or consultancy. The most sophisticated screens utilise NFC (near-field communication) technology allowing viewers to tap a display with their phone and download digital brochures to walk away with.
Screens as a sales and marketing tool
Retail banking can be boiled down to sales and marketing like any other consumer-facing sector. In the same way high-street shops use screens to promote certain products, digital signage for banks is an excellent advertising tool. Financial institutions go through cycles of promoting particular accounts and are forever increasing the range of services they offer. Bank digital signage is a uniquely flexible platform with a proven track record of increasing uptake to promotions. From a user’s perspective, digital displays are superior to their static alternatives as content can be updated remotely as often as desired. In real-time, marketing messages can be swapped out without the need to physically deconstruct posters or mounted displays.
While screens have long been deployed to display exchange rate tables to customers, bank digital signage also now includes employee-facing content. Working in a bank is not easy. Staff really benefit from the distribution of materials like training videos on screen. Utilising its digital signage network, a bank can encourage its staff to keep up to date with the latest banking regulations and policies. Alternatively, screens might be used to project sales targets and instil an air of competition among financial salespeople. Both functions can improve the efficiency of a banking team.
Saving your bank some finance
Although digital signage is a financial investment for both the hardware and software needed, the printing and designing cost required in constantly updating traditional signage proves to be significantly larger over an extended period. Not to mention the time required by a member of staff to keep updating static signage or changing a USB device.
Manage your content on the go
Working in banking or finance can entail long hours with constant work and often on the move visiting clients and customers. This can result in your signage being neglected and pushed to one side. We, at TrouDigital, have combatted this by embedding software within our solution that allows you to upload and update content directly of your mobile phone. Whether you are on the tube, walking to a meeting, or catching up on some office work, updating your signage solution has never been easier!
Generating extra revenue
The role of a bank circulates around money. When digital signage is strategically positioned, it can be used as a tool to generate extra money. Banks are unique in that they receive not only a high amount of footfall from customers, but also receive a rather large dwell time from their customer intake. This makes a bank’s digital signage screens an attractive prospect to advertise their services and products on. Whether it is one of your national suppliers or simply a local business looking to expand their reputation, digital signage can be the tool to generate extra capital for your bank. If this is something you are considering, please look no further than our ultimate guide to digital signage advertising.