A new study, commissioned by Samsung, has found that consumers of all ages still prefer going to bank branches to seek financial advice.
The study also found that long queues and poor customer service at the branches decrease customer loyalty.
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All customers prefer to go online while conducting quick transactions but for any other service that requires more effort and advice, they turn up to the bank branches.
The study stated that 77% prefer in-person transactions when discussing lengthier topics with their banks, while 53% will call the banks to receive suggestions.
It also concluded that the deployment of a tech-backed customer service at these branches can help the banks to retain their customers.
Samsung Electronics America US Lead of Financial Services Solutions & Innovation Julie Godfrey said: “For the past several years, banks have been heavily invested in online and mobile technology, at the detriment of their branch experience.
“These results underscore the importance of bank branch associates having the tools they need for a personalised consultative customer service engagement.”
The research found that about 75% of consumers aged 18-29 use mobile banking, while it decreases to 29% for the customers above the age of 60.
The bank visits range from 74% (18-29 years) to 85% (60+ years).
Furthermore, it also stated that customers prefer personalised service through tech adoption at the bank locations. Besides improving customer services, the tech solutions at the branches will increase customer loyalty.
