Queue management in the banking industry is a critical component of good customer service. But, many banks struggle to improve customer service in this sense. In fact, the stats show that many people spend a lot of time in line while doing their banking. Banks and financial institutions tend to rely on “analog” systems such as physical queues. Yet with so many customers waiting in lines for so long, it’s easy for customers to get frustrated. A recent study that polled over retail banks in Brazil showed that, on average, 10 people queue in line, losing patience and getting angry. A queue management system in a bank could reduce the number of people waiting in these banking lines.
The waiting time for customers is typically between 20 minutes and 40 minutes. It’s not a surprise that banks face many complaints from customers. Bank clients are looking for the best customer service and don’t shop around or enjoy free time for leisure. It’s essential for banks to greet their customers to the best and to not lose their time.
How can banks minimize the waiting time for customers? Is there a way to provide greater customer service for clients? Explore the best uses of a queue management system in your bank.
There are many ways banks can benefit from using a great queue management system. With an app like QLess, banks can improve their customer experience. The platform helps remove the lines in agencies, reduces waiting times for customers, improves customer satisfaction, boosts staff productivity, and gather data for financial institutions or banks to improve their services.
Remove the Lines in Agencies
Any banks or financial institutions can learn to remove their lines by using a queue management system. QLess offers any bank the technology to remove long waiting lines in the institution. As such, QLess provides customers who have access to a mobile device the opportunity to join a virtual queue and access the services they need. For example, clients can “check-in” at the bank without being physically present thanks to a queue management system in a bank. They can save their spot and manage their appointments through the app. Customers can access a virtual kiosk and get a ticket to book a time with the bank. The system is capable supplementing the work a physical teller does by capturing the customer’s name, service required, and contact information. If they wish, customers can also print a ticket.
The app works like a virtual assistant to help bank assistants and tellers in managing their queues. Furthermore, the app queue manager liberates customers from having to be at the bank waiting in long lines.
Technology in the queue management system in a bank guarantees not only a better ROI for banks and their staff but also for customers. Customers feel less frustrated as they manage their own time and can access services online. In fact, the QLess app boosts customer satisfaction to 100%. For banks, customer satisfaction is as important as the revenues they generate. Bad customer service or customer complaints can impede their operations and reputation. With QLess, customers feel in control of their time and don’t have to queue anymore for up to 40 minutes.
Reduce Wait Times With A Queue Manager App
As customers wait too long standing in queues, they may end up leaving the institution. Walk-aways are bad for the bank and for customers. Implementing a queue management system in the bank can help. Walk-aways symbolize how inefficient your queue management is. They can damage the bank’s reputation as well as lower customer satisfaction. Not only do walk-aways impede the business in general but they also mean fewer revenues and opportunities to promote a service or an offer to customers.
The QLess queue management app reduces walk-aways by up to 75%. Furthermore, the system minimizes the time spent waiting in lines up to 97%. The app also enables customers to filter by location, leaving them free to choose the branch closest to their home or work.
Customers receive on-time notifications and alerts about their appointment with the queue management system in a bank. They know how many people are already queuing and get a voice message or a text inviting them when their turn arrives.
Another great feature that has an impact on waiting times is the calendar scheduler. Customers are encouraged to book their spot on the app and can let the staff know in case they have to cancel the appointment. When their appointment is coming, customers receive friendly messages that notify them about the “next steps” and give information on who will be welcoming them. Accurate and live updates boost customer morale and provide a better client experience.
Improve Customer Satisfaction
Customer satisfaction is improved by up to 100% thanks to the QLess queue management system in bank technology. Not only is the app easy to install and use on most mobile devices, but the instant messaging, appointment scheduler, and calendar updates make it extremely helpful to customers. It’s like having total control over the waiting time and understand more about the processes of the bank. With so many opportunities to communicate with the bank and enjoy the services at the comfort of their fingertips, customers are more satisfied.
Since the app features online communication with automated messages that inform customers in real-time or let them schedule any service they want, customers enjoy greater freedom. With the queue system management in a bank app, they can virtually talk to a bank teller and book an appointment online with a financial advisor. Customers can even reschedule an appointment anytime they want. It’s like having a calendar and an appointment manager right on their mobile device, offering new smart ways to handle appointments and services.
The benefits for customers and banks are twofold. Banks offer the possibility of letting customers manage their own time and reduce their waiting times when they arrive on-site. Customers, in turn, feel well looked after as communications and processes are eased with their banks. Customer satisfaction is important for any bank to operate efficiently. As customer complaints reduce with the QLess queue management system in a bank technology, everyone wins.
Boost Staff Productivity
Working in a bank can sometimes be redundant or stressful especially when the staff has to deal with unhappy customers. Unhappy employees often consider switching employers. Some of the reasons that encourage the best employees to leave their job are the lack of recognition, lack of respect, no training provided by employers, poor performance, and so forth. When the staff has to deal with a stressful work environment or frustrated customers, it impacts their overall job satisfaction.
With QLess, bank tellers and staff enjoy more satisfaction in their job and staff productivity is boosted by up to 90%. The queue management system in a bank enables the staff to streamline their workflow and optimize their time. The app reduces employee workflow making them more aware of people in lines. In turn, this gives more freedom for the staff to welcome the visitors at their best. They can focus on the present and provide great customer service.
The consequences are important to consider for any banks: if their employees are motivated, empowered, and less stressed, they will provide a better job. If their clients are happy, the bank’s reputation will be more positive. They can generate more business as customers give referrals to the bank within their network.
Get Data On Customer Experience
A queue management system in a bank also provides feedback and reporting which helps banks make strategic decisions. The bank can access the client’s feedback or learn more about waiting times in agencies and improve their customer service. For example, tracking this data enables banks to understand and forecast customer behaviors as well as waiting times. These metrics give more room for banks and financial institutions to identify operational inefficiencies and resorb them with appropriate actions. Real-time reporting has great impacts on the overall bank performance so they can understand more about inefficiencies.
The accurate QLess reporting and tracking system indicates no-show rates, walk-aways, walk-ins, and time spent in queues. With the queue management system in a bank, banks are also capable of understanding their customers’ behavior when they arrive for an appointment or walk-in at the bank. Banks can get insights like never before by using this software. This is why QLess technology is a game-changer for banks and financial institutions.
Queue management systems are the future of the banking industry. Once you find the right queue management system for a bank, you’ll experience great results and fewer waiting lines. Impress your customers and your employees by diving into technology that will improve your performance tomorrow. Request your free product demo now.