One of the fundamental pillars of a successful bank is its reputation. Simply put, customers do not want to keep their money with a financial institution they do not trust. In order for banks to retain their existing customers and bring on new clients, they need to build and maintain a trustworthy reputation using their employees, security and banking supplies.
Traditionally, this type of trust is developed through real-life interactions between bank employees and customers, but the rapid shift to online banking means that banks now need to build these relationships digitally as well. Although newer banks and financial institutions might adapt to the digital space more quickly, they do not have the advantage of an established brand to encourage customers to trust them.
Today, we’ll go over how banks and financial institutions can build trust with their customers using proven techniques and reliable banking supplies.
Human Interactions Between Staff and Customers
In recent years, many banking features have moved online, reducing customers’ dependence on bank branches and in-person transactions. However, human interactions are still a huge part of a bank’s trustworthiness. While technology can be used to augment the customer experience, banks still must invest in the human aspect of their business to drive customer loyalty and brand satisfaction.
A survey from ARCA found that when it comes to larger, more complicated banking needs like mortgages and other loans, 41 percent of banking customers prefer to handle these tasks in person. Whether it’s online through a customer service chat or at a bank branch with a teller, customers want to talk to trusted experts who can quickly and effectively help them with whatever they need.
Bank Security
As mentioned earlier, the banking world is quickly transitioning to online spaces where customers provide highly sensitive information, from their names and birthdates to their Social Security numbers and payment information. And with data breaches on the rise, banks face more pressure than ever to protect their customers’ private information from unauthorized access.
However, the digitization of banking does not minimize the importance of physical security, which depends on high-quality supplies for banks to store, manage and secure cash and other bank assets. Trustworthy banking supplies are at the heart of bank security.
CONTROLTEK’s tamper-evident deposit bags, bank bags, coin bags, and other supplies for banks use the latest in tamper-evident technology to reduce internal theft, improve banking efficiency and streamline cash handling. For example, the TripLOK is the highest-performing cash security bag in the industry, thanks to its patented triple-seal closure with an interior adhesive that leaves no openings when sealed. Other tamper-evident features like a high visibility void message, special thermochromic ink, and security micro-perforation deter theft and help banks identify possible tampering as soon as possible.
Supplies for banks aren’t limited to just security solutions. Coin wrappers, ATM supplies, teller supplies, and other supplies for banks play an important role in the efficiency of your banking operations. Durable, reliable banking supplies ensure the smooth storage, management, and transportation of banking assets. For example, CONTROLTEK’s coin sleeves are constructed to not rip open during transit and have a twist-off feature that makes them easy to open, reducing the time it takes to process coins.
Personalized Bank Brand
The digitization of banking has provided financial institutions with the opportunity to personalize their brand for their customer base. Today, customers expect a highly personalized experience from any brand they interact with, including their bank. Using the latest technology in cloud computing, artificial intelligence, and machine learning, banks can create a personalized customer experience with recommendations and unique insights to help customers better manage their finances.
Exceptional Customer Journey
Along with a personalized customer experience, banks also need to be heavily invested in the journey of a customer after they have been acquired. In order to build trust in the services they provide, banks should examine the customer journey and remove any pain points to streamline their services. By taking the time to optimize the customer journey, banks can align their products and services with customer demands, reduce customer churn and increase overall engagement.
Radical Transparency
Without transparency, any attempts to build trust between a bank and its customers will be much less effective. By providing your customers with relevant information about the products and services you provide, you can support them in making smarter financial decisions while also creating trust in your bank.
To create a truly transparent banking experience, banks should disclose what customers need to know right away instead of relying on misleading messaging and marketing tactics to bring in new customers. In addition to protecting your organization from regulatory action, transparency will also show your customers that they can trust their bank.
CONTROLTEK’s Banking Supplies Have You Covered
When it comes to building a reputation for trust and reliability, CONTROLTEK is the ideal choice for banks, credit unions, and other financial institutions.
It’s likely that every dollar in your possession, at some point, has been inside a CONTROLTEK cash security bag. This is because our security packaging has proven itself to be so effective that the nation’s top banks and government entities have been using our tamper evident deposit bags and other products for decades. CONTROLTEK’s line of bank bags can help you reduce internal theft, improve your efficiency, and streamline cash handling.
To learn more about how our line of banking supplies can support your needs, contact us today.