Large National Bank Reduces Branch No-Shows and Walkouts

Automation helps increase sales, improve staff efficiency and enhance in-branch customer experience.

Results

70%
Reduced appointment no-shows by 70%
27%
Improved staff efficiency by 27%
60%
Reduced branch walkouts by 60%
Doubled appointment traffic
Increased new customer acquisition and sales

About the Large National Bank

A large national retail and commercial bank with over 900 branches serving 14 million personal and commercial customers wanted to improve the customer experience while driving more traffic and sales across its branch network. The bank undertook a branch transformation initiative to better integrate the branch into its omnichannel strategy and provide a more seamless experience for customers.

Opportunity

The goal of the transformation initiative was to ensure every customer received the support they needed, at a time that best suited them, and that their interaction could easily transition across the bank’s digital and physical channels. Enabling online booking of appointments for either video bankers or in-branch specialists was seen as a key factor in achieving this goal.

Solution

Verint Appointment Booking

The bank partnered with Verint to deploy Verint Appointment Booking and Verint Queue Management. Verint Appointment Booking gave the bank’s customers the opportunity to interact with the bank at a time and place that was most convenient for them. With an intuitive calendar interface on the bank’s website, customers could click a button to view a banker’s availability and book an in-person appointment in the branch, a virtual appointment with a video banker, or even an appointment in their own home.

The automated scheduling and SMS text confirmation and reminders enabled by the Verint solution help increase attendance and reduce no-shows. Further, customers know when they are coming in, where they are going, and the specific topic to be discussed. As a result, these customers are typically more prepared for their appointments than walk-ins.

The Verint solution was particularly helpful in increasing access to the bank’s community bankers, who visit customers at home and within the community. It allows community bankers and branch colleagues to schedule future appointments for preferred dates and locations.

“The Verint Appointment Booking solution definitely drives more bookings for the video banking team. Since we introduced it, we’ve seen twice as many bookings come into our schedules.”
Video Banker
Large National Bank

Solution

Verint Queue Management

The bank also realized that in-branch wait times and walkouts were negatively impacting customer experience and sales growth goals. Here, Verint Queue Management enabled the bank to manage customer expectations more effectively with regard to wait times. Upon arrival at a branch, the customer is greeted and added into a virtual queue, including the topic they wish to discuss.

The system automatically identifies the best associate to serve the customer, as well as the expected wait time until that individual is available. The customer is given the wait time and the option to receive text messages with updates and reminders. The customer can decide to stay and wait, or leave and return if time allows, knowing their spot in line is secure.

“Undoubtedly, we have reduced our walk-out rates because, from the first point of contact, we clearly communicate a wait-time expectation with customers,” explains a Branch Manager at the large national bank. “The Verint solutions help us really understand when our customers visit us and what the nature of their inquiries are, so we can successfully match available advisors to customers. It helps us make sure the customer experience is first rate.”

Benefits

With Verint Appointment Booking, the bank was able to double its appointment traffic versus the number of appointments previously booked by phone. The bank also reduced no-shows by 70 percent. Moreover, it enhanced new customer acquisition, as 60 percent of the customers that booked an appointment through the solution were new to the bank.

In addition, using Verint Queue Management, the bank reduced walkouts by 60 percent while also enabling bankers to be better prepared for their conversations with customers.

Overall, Verint Appointment Booking and Verint Queue Management contributed to fewer no shows/walkouts, increased sales, and improved staff efficiency. As the Video Banker notes, “For me, there’s less admin work I have to complete and more time to get on with my day job.”

The Verint solutions also heightened the bank’s analytics and understanding of what customers are looking for. The Branch Manager adds, “The Verint solutions enable me to understand the number of customers and types of transactions I have in my queue, and to allocate resources more effectively, allowing the team to function more efficiently than ever before.”