Banks opt for self service to push sales despite customer frustrations

Self service machines have been widely adopted by the retail industry and banks are set to move customers across regardless of research.

Self service machines have been widely adopted by the retail industry and banks are set to move customers across to self service regardless of research showing customers would prefer to speak to someone in person.

Research from the fourth largest cash handling vendor Glory Global Solutions reveals that 93% of respondents feel frustrated by self-service technology.

Customers’ most common complaint was that they are unable to speak to an employee when using self service.

While customers feel frustration at banks’ self service machines many continue to use them, with only 31% of survey respondents admitting to never using the machines.

Less than half of people (30%) said that having a staff member on hand would make them more inclined to use self-service for more complex transactions, such as loan applications.

ING’s Turkey division is trailing Glory’s new TellerInfinity platform in 39 branches in Turkey ahead of its Q4 2014 rollout to drive sales.

Gulsen Avci, process development consultant at ING Turkey, told RBI: “Before we moved over to the new branch concept, tellers had no sales activity, only cash transactions. With the new concept tellers also have sales targets.

“Tellers have to now sell some products to customers, it is related to their performance. For example some tellers will have to sell three credit cards per week.”

Banks around the world are continuing to shift to self service within branches to try and reduce costs. Self service is generally considered cheaper for the bank and frees up staff to talk to customers, ideally increasing customer satisfaction and sales.

ING is also using TellerInfinity to encourage customer engagement through use of a welcome area fitted out with iPads in the stores currently trailing the platform.

Young people buck the trend in feeling frustrated by self service with only one in ten admitting to avoiding the machines and nearly half saying they rarely feel frustrated by them.