Pioneering Virtual Banking
For over a century BrandBank has been a major force in North Georgia.
In 2012 BrandBank engaged Ascension to help the organization develop a cost-effective retail growth strategy.
The $1.25 billion regional bank sought to expand its retail footprint without the high cost of traditional bricks and mortar branch construction and related staffing costs.
To address this challenge Ascension conducted a multi-year strategic customer base analysis to better understand key metrics including profitability, product mix, and market segmentation.
Additionally Ascension developed alternative positioning platforms for use in primary research designed to help evaluate several alternative retail growth strategies under consideration.
The research revealed strong customer interest in virtual, teller-less banking kiosks powered by the latest in remote technologies.
Ascension managed the entire research process and played a key role identifying a major technology partner that could provide the virtual teller kiosks.
The initiative resulted in the development of BrandExpress – the first network of interactive, full service remote community banking kiosks in the country.
Through BrandExpress innovative banking kiosks offer customers real-time, face-to-face interaction with bank service specialists. Bank representatives work virtually to help customers open new accounts, make deposits, cash checks, execute withdrawals, enroll in Online Banking, And make remote payments.
This program is an excellent example of a game changing innovation that can emerge out of powerful customer insight mining and strategic support.
The BrandExpress virtual teller program has proven to be a powerful new customer acquisition and service mechanism for the company.