Credit unions “have a distinct lead over banks” regarding the use of branch automation solutions, according to “Branch Banking in a Multichannel World: What Ever Happened to the Branch of the Future,” a report from Celent.
The report says credit unions are more likely than banks to use:
Banks exceeded credit unions only in their use of operational CRM, customer video conferencing, and biometrics for customer identification.
The top two branch priorities for credit unions and banks are “improving sales and service results” and managing and delivering on multiple branch priorities (i.e., cost reduction, compliance, and service delivery).
More than half (54%) of banks ranked the branch channel as their top priority, and 73% ranked it among the top two. The Internet banking channel ranked a distant second.
Other channels, including mobile banking, were clearly a lower priority.
But the picture among credit unions is different. The Internet channel is the highest priority: 56% ranked it the top priority and 77% ranked it among the top two.
The branch channel followed at 20% and 55%, respectively, and mobile banking third, at 11% and 31%, respectively, Celent reports.
Learn more about Celent reports here.