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Single Control & Rethinking the Branch Opening/Closing Process

Let’s face it, pretty much every branch has done it. The old “drive-thru shade up”, “umbrella in the window” or “sock monkey in the door” method of signaling a safe branch opening. And to a degree, this system was passable because most branches were physically consistent, and branch employee staff and counts remained constant. Branch Transformation had already begun to wreak havoc with this model…then along came COVID-19. And finally, the antiquated practices of the past fifty years are migrating to a new generation of safety and compliance.

Limited branch hours, limited staffing and the continuing unknown are bringing a revolution in physical security for the banking and credit union industry – single control for opening and closing branches. Banks and credit unions are by necessity embracing new solutions to make what was unthinkable a reality. And they’re using groundbreaking technology to do it.

Efficiency = Strength

A decade after the financial crisis, the financial industry stands on much firmer ground. The primary lesson learned over the period is the weak are eaten by the strong, and for “strong” read “efficient.” Best process efficiency standards encourage FIs to accelerate their transformation, particularly in technology. No doubt the most efficient institutions are embracing technology transformation across the retail and growth markets value chain. FI professionals are accepting the concept of “changing how we change” and embracing process efficiencies, physical retail designs, and IOT applications. Post-COVID, the ongoing increase in the use of teller cash recyclers, ITMs and Smart ATMs will keep branch employee counts lower. The ability to move from dual to sole control frees up staff hours to move to peak-time staffing models and improve customer service without increasing personnel costs.

Head outlined with moving gears to show partnership and communication

Technology Rules

These uncertain times may be the best time to reimagine the physical retail environment and technology applications. Technologies to enable transformation are becoming more powerful, readily accessible, easily implementable, and able to meet regulatory requirements. As we realize the benefits of the retail branch efficiencies, we must embrace new processes of protecting the people and assets at the core of our success. And yes, these new technologies provide the potential for a substantial return on investment when properly utilized.

Designed specifically for the financial services industry, SafeBanker® (for banks) and SafeResource® (for credit unions) utilize cutting-edge technology to allow branches to be safely opened and closed with a single employee. Other benefits include increased efficiency, streamlined communication, emergency notification, active threat mitigation, and gains in compliance, oversight, and reporting.

 

Kevin Mullins outside for a business portraitHave questions? Want to see a demo? Talk to Kevin Mullins. Kevin is 3SI’s VP of Emerging Market Sales. But Kevin is also a former bank CEO and Director. He held the first U.S. Patent for systems to physically open/close financial services facilities and was the CEO of SaferMobility, the world’s leader in video mobile safety solutions. His wealth of experience and real-world knowledge is available to answer your questions.

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