Implementing Digital Signage in BFSI Industry
Feb 19, 2018 | 42Gears Team
Customer experience matters a lot in the banking industry. In fact, several banks consider it to be a more powerful factor than price-value perception when it comes to acquiring customer loyalty. Even traditional banks view customer experience as a key driving factor for growth, and they continue to adopt measures to improve customer experience. Banks have started deploying digital practices to keep customers happy and re-invent the banking experience.
Digital signage is one of the easiest-to-adopt solutions designed specifically to attract customers’ attention. It has the power to create customer loyalty by establishing an emotional connection and improving a bank’s relationship with customers. Digital signage not only enhances the in-branch customer experience, but it also serves as an effective communication tool to display targeted information to customers while they wait in queues. Digital signage can be used to promote new products and services to match customers’ interests in different branch locations. Rich media content displayed through digital signage can have a strong, positive impact on customers. Banks and financial institutions can also use digital signage to engage customers with entertaining content while effectively reducing perceived wait times and the consequent annoyance.
Benefits of Digital Signage in the BFSI Vertical
Let’s take a look at some of the use cases and benefits of digital signage in the BFSI vertical:
Improving In-Branch Experience
Banks and financial institutions have shifted a majority of their banking transactions and tasks to the online space. Keeping up with the trend, many institutions are trying to update their brick-and-mortar experience as well. Institutions are now deploying digital signage to generate a positive customer experience. The use of digital signage to implement token-number-based queue management systems and also to keep customers engaged with useful and relevant information is commonly seen across banks and financial centers.
Branding and Promotions
Banks can use digital signage to display dynamic visual content and raise awareness about their financial services. It can also enhance customer communication by easily integrating with in-house CRMs and marketing automation tools. Banks can showcase interesting content in the form of videos and digital banners that are informative and effective.
Offering Customer Updates
For a long time, banks and other financial centers have made use of static posters and banners to reflect the latest bank rates, equity portfolios, and other related financial data. Not only is this process time consuming, it also involves huge costs. Digital signage can help minimize these costs by allowing customers to learn about the latest updates. The data can also be easily customized for specific branch requirements.
Digital signage platforms can allow banks to schedule content delivery weeks or months in advance. This will not only keep content fresh but also allow managers to focus on more important operations. They can schedule seasonal offers on mortgage or loan rates to play on screens during festivals or important dates.
Digital signage can also be an excellent tool to improve internal communications, communicate policy updates, and deliver training. It can be used to display HR policies, leaderboards, and other important information such as quarterly or yearly performance goals, KPIs, and more.
Self-help and Feedback Kiosks
Digital signage solutions can turn smart devices into touch-screen kiosks where customers can access their account details. They can also be used as feedback kiosks to collect appreciation or complaints from customers about the services offered.
SureVideo by 42Gears is a digital signage solution for smartphones, tablets, desktops, and Android TV sticks. It facilitates easy configuration of media files (videos/audio/images), and allows PowerPoint presentations and other forms of content to be played in a loop. SureVideo also allows the content to be branded with the company’s official logo.The playlist can be deployed to multiple devices and remotely updated at any time using an UEM solution such as SureMDM.