Imagine a personalized welcome, few queues
and fingerprint checks. This could be your bank branch in the
future, thanks to cutting-edge technology such as radio frequency
identification and biometric scanning.
In five years' time major banks across the globe could be
using these time-saving and customer-personalised devices
to revolutionise branch banking, consultancy firm Accenture
said on Wednesday in a presentation on the bank branch of
the future.
"Banks are trying to differentiate
themselves and branches are still fundamental to this, so they
are trialling lots of this new technology," said Simon
Jenkins, retail banking partner for Accenture in the UK.
Radio frequency identification (RFID) is a technology being
developed by retailers that should migrate to banks. Customers
would be automatically identified by the RFID-encrypted card
in their wallet as they pass through the door, prompting
a personalised welcome to flash up on a computer screen.
By the time the customer reaches the counter all his or her
details are on the screen of the teller, who can discuss
specific requirements without asking a lot of redundant questions.
"The bank wants to be able to identify the customer the minute they walk
in and understand why they are there," said Mike Redding,
head of development for Accenture Technology Labs.
"The most innovative banks will then combine the data they already have
and the new information they get and simplify it and make
it usable."
RFID is also likely to feature in bank cards, key rings or
mobile phones as a payment option. The process is already
under way in many countries and oil major Exxon Mobil has
issued 6 million Speed Passes to allow users to pay for gasoline
easily at the pump, Redding said.
Demand for anti-fraud measures should see advances in biometrics
- fingerprint or eye, facial, palm, voice, vein or even ear
shape recognition software operated by bank staff or included
in an automated teller machine.
Redding said that, with banks keener than ever to get an
edge over rivals, other technology set to appear in branches
includes digital pen and paper or camera-based tracking to
monitor customer traffic and improve service and efficiency.
Away from the branch, other financial services applications
set to feature includes telematics, or automotive data
collection, which could see more insurers analysing journeys
and offering "pay-as-you-drive" cover
for motorists.
