If you talk to technology providers, the future is very technology centric. Take this video from Microsoft, which depicts a bank in which mobile devices, biometrics, interactive digital signage and well-trained employees all come together into a elegant choreography:
Not sure who has the budget for this kind of implementation, but it certainly does impress. So does Barclays’ new, futuristic branch in Piccadilly Circus (good coverage here).
Incidentally, Barclays’ branch of the future is the first EU bank to implement Microsoft Surface, a technology that has been getting some attention in digital signage and other technology circles. This demo of Surface, recorded at CES in 2008, provides a decent glimpse of how the platform might work in a retail environment:
While fantasies of a seamlessly wired world and seamless, GUI customer experiences are enticing, are they realistic? Heck, customers are still plagued by malfunctioning ATMs.
A good number of these technologies — mobile payments, biometric scanning or the integration of interactivity on all manner of surfaces — could very well become part of the branch experience in the near future. Or they could go the way of the flying car. It all depends on context.
The context for any technology investment, whether it’s a digital signage network or a mobile banking system, is the customer. What do they need out of a banking relationship in general? How are their needs changing in the current economy? What are their ever-evolving shopping habits and how does banking fit into the mix? Of course, the tricky thing about customers is that they can’t tell you what they need or want.
Bottom line, unless banks are able to understand their customers and create experiences they actually want to have, then no amount of amazing technology will bring customers into the bank.
Amen brother!
This is what I call “innovation for innovation’s sake.” It’s the tail wagging the dog. The bored marketer says, “Dang man, I’ve got this cool tool available. I’ve seen other people playing around with it. I wish I could do something with it too.”
Examples one hears frequently are things like, “Hey, we should get a Twitter account,” or “We want to start a blog. What should we blog about?”
The best innovations, the best ideas come start with a problem the consumer needs solved.
Are you not publishing comments on this blog? I left one two days ago…
Sorry, Jeffry, but we’re still wrestling with spam filters. Thanks so much for your comment (and reminder)!