Category: Learning

5 Ways to Use Digital Signage for Banks, Credit Unions and Financial Institutions

October 28, 2019


a picture of a bank

The concept of money may be shifting towards digital but the relationships that define the retail financial services experience, the connections that bond a client to their bank or credit union, are as real world and important as ever. Online banking can be convenient, but there are still many banking functions that require a more personal touch. According to a 2016 Fiserve study, sixty-one percent of banking customers visited their branch in the past month, on average just under three times! Surprisingly, millennials visited branches more frequently than other groups. These visits are often to deposit checks, withdraw cash, or speak to representatives — functions that can’t effectively be replaced by digital or remote offerings. Indeed, the in-branch experience matters. It matters a lot.

Progressive bank managers know that each customer visit represents a precious opportunity to engage with a client. Recently they have been turning to on-premise digital signage as a way to inform and educate clients, cue conversations and make the in-branch experience a little more enjoyable.

Here is a list of the top 5 ways to use digital signage in your bank, credit union or professional office and some ideas to get you started.

#5 Enhance Your Professional Environment
Banks and financial institutions must foster a sense of trust and confidence with their customers (they do handle our money after all), and exuding a tech forward professionalism is a great way to say we’re the bank of the future. Replacing printed brochures, pamphlets and hand written signs with digital signage will make your bank greener, cleaner and less cluttered and help make your customers feel cool and confident while they are visiting.

#4 Inform, Educate & Entertain Customers
Banking, and financial matters, can be a source of considerable stress for customers, especially while waiting to see a bank teller or personal banker. Digital signage has long been known to help reduce perceived wait times, so why not use an otherwise under-utilized moment of your customer’s day to keep your customer informed? Knowledge is power! Use your digital signage to help educate your customers about news and events, remind them about tax deadlines, and give them tips they can use to further their financial goals.

Digital Signage reminding customers about RRSP Deadline

#3 Product & Services Promotion
Like all businesses, financial institutions exist to sell products and services. What’s unique about financial services is that the products and services on sale tend to be complicated, full of math, and even scary. Pushy sales tactics rarely work. Digital signage is an effective tool for cueing an important conversation in the right place and at the right time. When an offer is presented in a tactful way, that might influence a buying decision.

Digital Signage showing Retirement Income Planning messaging

#2 Demonstrating Your Good Corporate Citizenship
Banks are about more than money…they are about people. They are pillars of the community. The more your clients know what a good corporate citizen your bank has been in the local community, the more they are likely to remain loyal to your bank. Digital signage can be an effective tool for helping to promote community events like fun runs, fundraising drives, or local benefit concerts. Did your branch donate to a cause? Display that oversized cheque giveaway on your digital screens to help let your community know that you care!

An example of a digital signage message for a bank - Charitable Donation

#1 Internal Communications
Digital signage is becoming more and more prevalent as a visual communications tool in the workplace. With today’s overflowing inboxes, email memos just aren’t cutting it anymore. Digital signage can help keep your staff informed on key performance metrics, notable employee achievements, important new policies and procedures, office events, new employees, and more And your messages will never end up in a junk folder!

Digital Signage congratulating employee on retirement

Whether you’re new to digital signage or looking to upgrade and old and tired system, ScreenScape is free to try. That means there’s no reason NOT to find out for yourself just how quick and easy it is to make great looking digital signage. Our customizable media templates and flexible integration apps are a great way to create eye catching displays. If you have any questions at all, get in touch and we’ll be happy to show you everything you need to know about ScreenScape.