3 Reasons to Add a Virtual Branch to Your Bank's Brick-and-Mortar Lineup

Posted on: 26 February 2021

Does your bank offer a virtual branch for customers to take advantage of? If not, it's a good idea to think about doing so. A virtual branch can allow your customers to work face-to-face and one-on-one with a virtual teller. Here is why your bank should offer such a service: 

Show Your Commitment to Health and Safety

A virtual branch will allow you to show your bank's commitment to health and safety, which is especially important in these days of dealing with what seems to be a never-ending pandemic. Some people are vulnerable to illness and would prefer to do their business online rather than go into a business in person. Others simply want to take advantage of any services that will increase their safety from illness even if they are healthy now.

Providing your customers with the opportunity to work with a bank teller one-on-one virtually is something they are sure to appreciate not only while a pandemic is happening but even when they have a cold and do not want to head into public or when they simply do not want to leave their house just to go to the bank.

Attract More Customers Over Time

Including a virtual branch to your lineup is a great way to attract more customers as time goes on. More and more, people are looking for convenience when it comes to doing personal business because they are so busy with work, home responsibilities, and social time. Many people would be willing to switch to a bank that offers a virtual branch if it means that they can get the same personal service online as they would in person.

Even if they do plan on visiting brick-and-mortar branches regularly, potential customers will see the value in doing business with a bank that allows them to do the same business whether they can make it to a branch in person or must use the virtual branch on occasion. Potential customers who travel a lot will see great value in a service like virtual banking one-on-one with a teller.

Save Some Money and Increase Productivity

Incorporating a virtual branch into your bank's business model can help save you some money and increase your overall productivity levels. Chances are that when people start using the virtual branch, they will not visit your brick-and-mortar branches as often which means that you can decrease your employee count and overhead. Also, a virtual branch will take some of the pressure off tellers working in brick-and-mortar branches so that they can better focus on their work and produce better results throughout the day.