Using Digital Signage to Manage Rates for In-Lobby Retail Banking

Digital signage is becoming commonplace in banks, and for good reason. It’s been used for a while now as a tool to improve customer experience and create a level of trust amongst consumers. While digital signage can be used for pretty much any marketing material, it can also help to mitigate perceived queuing times, build brand awareness, and keep consistently changing information like rates accurate and up to date.

Most retail banks and credit unions have a range of products with varying rates. Mortgages, savings accounts, and trading accounts are just a few. By displaying their rates on digital signage, they can be updated with minimal effort and even allow banks to be a little more creative in promoting their services. They can provide potential customers with the opportunity to compare rates against local competitors so they can make an informed decision.

So why else should you use digital signage to manage your rates?

Automatic updates through a central server

One of the biggest challenges for any bank’s signage is keeping everything relevant and up to date. This is especially true with rates, and particularly, foreign exchange rates that continuously change throughout the day.

Through integration with the right software, you can display all the latest information on your signage in just a few clicks. Zero-In's solutions offer a cloud-based control center that houses all the information. It can then be pulled through APIs or RSS feeds. Data can even be managed through in-house files like spreadsheets. These can just be updated by one person and the results will filter through the network.

Management can approve updates from anywhere

The banking and finance sector is heavily regulated, meaning that everything needs to be approved by senior management to ensure there’s compliance. Regulations can also vary by state, city, and even country, so things can get complicated fast.

This is why senior management needs to approve many updates. With digital signage, this can be done from anywhere meaning that if they’re not in the office, important rollouts can still take place making the operations of the bank more efficient.

High-quality display

Not only are digital rate boards better for the environment than traditional signage solutions, but they can also be displayed in much higher quality than print. You also have the option to add 3D graphics and interactive video so that the information is no longer static and boring.

This creates a more immersive content experience for the consumer; especially if you take advantage of interactive displays that encourage customers to take part. For example, you could ask them what rates they’re getting at their current institution and use that to calculate how much more they could make (or save) by switching to your bank.

A/B testing

The great thing about using digital signage for displaying your rates is that you can use A/B testing to see which displays convert better. For example, some banks may have more interest in a particular product if they display their rates on a huge video wall, whereas others may prefer displaying information on kiosks. Because there’s no need to get different and new static signs printed out, you’ll be able to save time and money. Plus the content is already there, you just need to redirect it to a different screen; it’s almost instantaneous.

Conclusion

Using digital signage to manage rates in banks and credit unions allows you to educate and inform your customers without them having to ask for it. It enhances and improves their customer experience. It’s more visually appealing than traditional signage and can even attract passing customers if you have competitive rates. Contact us to learn more about adding digital rate boards in your branch.