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Global Banking and Finance Review: Virtual Queuing and Appointment Scheduling: A Powerful Pair

Article Publish Date: May 14, 2022

Article Abstract:

Digital technology has transformed how financial institutions serve their customers, who can now handle most of their banking without ever setting foot in an actual branch.

Although some people still prefer depositing a check or withdrawing cash with the help of a live teller, many customers who visit a brick-and-mortar financial institution today are coming for specific consultation needs—to speak with a loan officer, set up an IRA with a wealth advisor, rent a safety deposit box, and so on. The last thing these customers want is to wait a long time once they walk in the front doors.

Banks and credit unions are increasingly turning to virtual queuing systems and appointment scheduling solutions to create a better experience for their customers. The two technologies can complement each other to not only serve customers better but also boost efficiency and productivity for the financial institution.

A small queue on a slow day can create waits that are just as annoying as a long line. If three people are in the queue and each needs 15 minutes of service, the third person will wait a half-hour to be helped in an otherwise-empty lobby. Financial institutions must consider not only how customers receive service but also how they wait for that service.

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