The Value Behind a Virtual Queue at a Bank

Despite the increased popularity of online banking, many customers still prefer to visit a branch to conduct their financial transactions. All too often, though, a personal banker who handles opening and closing accounts, securing personal loans, opening home equity lines of credit, and more will already be working with someone in their office when a customer arrives.

An unexpected wait could sour your customers’ opinion of your bank, even if they felt fine about it before. Worse, if they feel they’ve waited too long or received sub-par service, they might change their mind about starting or increasing services—or about continuing to bank with you at all.

By implementing a digital queuing solution, you can give your customers a much more positive waiting experience. Doing so will result in a more favorable impression of the bank, the people who work there, and their ability to help customers grow their money.

How Banks Benefit from Digital Queuing 

Virtual queue management is similar to appointment scheduling, and the two concepts can work in harmony. Bank customers check in remotely for service—whether they need to speak with a teller, work with a wealth manager, or secure a safety deposit box—and that first interaction with the software alerts bank personnel about what service(s) someone needs.

Whether someone is scheduling time with a personal or business banker or taking their place in line for same-day service, more personalized service begins the moment customers walk in the door. Individuals can be greeted by name before being routed to the person best suited to address the reason for their visit. Employees are prepared to complete transactions quickly because they already know the service(s) required.

The level of confidence customers have in their bank depends largely on how efficiently they receive service when they visit a branch. Digital queuing improves both the level of service and the speed at which it is delivered. When you provide personalized service at such a high level of accuracy and efficiency, you increase the likelihood that your customers’ overall impression of your bank will be a positive one. As a result, they’re much more likely to trust you with additional financial products and services.

Digital queuing software includes a dashboard that is accessible for administrators in the bank. With visibility into how many customers are in the bank and what kinds of service they need, supervisors can appropriately staff at every level so customers who check in keep their place in line and neither walk-ins nor visitors with prescheduled appointments end up waiting too long.

Virtual queuing software also monitors wait times. If a walk-in customer has been waiting too long, they can be sent a message inviting them to schedule an appointment for another day or even a notice that wait times are shorter at a different nearby location.

How banks use virtual queuing is really no different than how retail stores, restaurants, government agencies, and theme parks use it. Every organization wants to handle interactions effectively and efficiently so their customers and patrons don’t feel like they’re wasting time—or worse, wasting their money. When people conclude their business, they should feel positive about their experience so they not only keep coming back but also tell others to do the same.

The Value of Adding Virtual Queues at a Bank

A majority of bank customers still prefer visiting a branch to conduct their business—52 percent, by some estimates—and digital customers record the lowest level of satisfaction. It is in the best interest of bank managers to make in-person experiences the best they can be.

Virtual queue management solutions eliminate the possibility that, for example, a patron will stand in a long line waiting for a teller only to be redirected because they really need more in-depth service from someone like a wealth manager. And if the system knows someone has business banking needs, it can alert the appropriate person, who will have forms and whatever else the visitor needs waiting when they sit down.

Bank managers can access customer traffic trends, note wait times, and track the average amount of time it takes to complete certain transactions. All of this information is available through a dashboard that is accessible from any device and any location. Leadership doesn’t have to feel tied to a specific branch to monitor operations and can more effectively manage resources to meet customer demand.

If the data shows, for instance, that Wednesdays are particularly busy for personal bankers, you can add staff to accommodate that increased traffic. Additionally, once customers are in the queuing system, you can send them targeted offers and promotions while they wait—and after their visit—about financial products you offer that can help them achieve such goals as owning a home, using a home equity line of credit to remodel, and building an investment portfolio.

Every interaction with your bank and the personnel there that makes customers feel that they are valued and not just a number increases their engagement and boosts their loyalty. Using the metrics tracked by a virtual queuing solution, you can make adjustments to offer each customer an efficient and pleasant experience—which pays long-term dividends. When satisfied patrons need to secure a home or car loan, store important documents, or better manage their investments, they’ll check with your bank first.

How Virtual Queuing Improves Accessibility

Navigating the abled world remains a challenge in many ways for those with vision, hearing, or other physical disabilities. Qtrac’s virtual queuing solutions strongly support the Web Content Accessibility Guidelines (WCAG) principles:

• Perceivable: Content is generally accessible by everyone
• Operable: All users can interact with the software through a kiosk, tablet, computer mouse and/or keyboard, or voiceover
• Understandable: The meaning of information and instructions must be understood by individuals who use the software
• Robust: Webpages and websites must be used and understood on a variety of devices and with assistive software like screen readers

In support of this goal, digital queue management software is built with multilingual support. Individuals with limited English proficiency can confidently use the software to check in for teller service or schedule an appointment with a banker.

Increase Your Bank’s Value

The elements of an effective virtual queue management solution—remote check-in, the ability for customers to wait where and how they choose, personal and anticipatory service, and fully accessible interfaces with multilingual support—make customers enjoy doing business with your bank rather than dreading it. Deliver a highly valuable and truly personalized banking experience for every customer, no matter the number on their balance sheet. Contact one of our virtual queuing experts today or request a demo.