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Auriga White Paper: Farewell to the traditional bank branch?

By Antonella Comes, CMO, Auriga

The banking software company Auriga has produced a White Paper on whether the time is nigh to say farewell to the traditional bank. Considering the continuing closures of bank branches in Western Europe, Auriga has identified three challenges facing banks: 1) the need to retain customers, whilst 2) improving profitability and 3) attracting new customers.

To tackle these challenges today, and given the importance of the branch channel for customers, banks around the world must rethink and reposition branches in their distribution strategy and relationships with customers. This can be achieved by creating a kind of hybrid branch with self-service capabilities – a kind of automated branch with human staff on hand to provide advice.

Today, banks are not only competing against each other but the benchmarks continually change. The smartphone generation has very different expectations compared to Generations Y or Z, which must be acknowledged. These include providing a high valued and maximised customer experience, not just functionalities and customisation, across all channels.

A hybrid branch allows banks to expand their offering due to the best technological solutions, while at the same time relying on employees to deal with relationship issues, providing advice to customers, and offering them a consistent and coherent customer experience 24/7.

Auriga’s White Paper, “The challenge of digital transformation: Farewell to the traditional bank branch?”, is available to download here.

Auriga is a leading supplier of software and technical solutions for the banking and payments industries, and a specialist provider of innovative omnichannel solutions to banks and other financial institutions. Its solutions, deployed on over 67% of Italian ATMS and 12% of western European ATMs, are founded on modern architecture and improve time to market for new services while lowering costs and building long-term competitive advantage. Auriga is a global company, with a dedicated presence in Eastern and Western Europe and expanding operations in the UK.

Auriga is a leading supplier of software and technical solutions for the banking and payments industries, and a specialist provider of innovative omnichannel solutions to banks and other financial institutions. Its solutions, deployed on over 67% of Italian ATMS and 12% of western European ATMs, are founded on modern architecture and improve time to market for new services while lowering costs and building long-term competitive advantage. Auriga is a global company, with a dedicated presence in Eastern and Western Europe and expanding operations in the UK.

Further information at: www.aurigaspa.com

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