Online banking, ecommerce, paperless payments are all concepts that will throw the less tech-savvy, cautious consumer into a panic about security. Financial institutions are under huge pressure to ensure they’re providing all their services to all their customers in every way imaginable – there are few other industries where the consumer demographic is so vast. Today, banks offer various branch locations, online and phone banking, as well as mobile app banking.

But the trend is clear with banking as it is with all business, the marketplace is being taken over by technology and banks need to rethink traditional banking methods with modern, digitally-enabled systems. A simple way to align the old with the new is to equip branches with guest Wi-Fi.

A new type of bank experience

The thought of physically going inside a bank can be a dreaded errand. Banks are moving towards providing a new, less suffocating atmosphere for their branch locations. Some banks have already turned their waiting area into a lounge or café-type of space. Allowing them to get connected to the Wi-Fi can turn a dreaded experience into a more pleasant one, ultimately allowing customers to hang out and relax while waiting for their banking needs to be completed.

Using data to drive bank decisions

With guest Wi-Fi, banks can collect analytics which are powerful in helping banks make smart data-driven decisions that works towards making the bank visit less stressful and more enjoyable.

Knowing the most popular times people frequent can help banks better strategize how to run the branch more efficiently. Knowing who is going into each branch can help banks match demographics to certain locations. By counting the number of visitors, banks can compare locations with one another, and figure out what the best practices are. All this information can help answer tough questions such as why does one branch have more visitors than another branch that’s only ten miles away? Is it because of specific services available, easier parking, or a convenient coffee shop nearby?

Banks can also see if there are long lines outside the ATMs early morning, before the branch is even opened. This information can help banks justify the need to adjust their hours and allocate staff in terms of numbers as well as their specialities.

Furthermore, banks can get valuable insights into the devices, browsers, and operating systems customers are using the most. With efforts to become more digital and draw more usage to mobile apps, this information can be crucial for making development decisions, and work towards providing customers the best digital banking experience possible.

Turning visitors into valued customers

Banks that are empowered with knowledge of who customers are, which branches they visit, and what banking needs they have, can use this information to their advantage. Guest Wi-Fi can work as an engagement tool to turn bank visitors into more valued customers. For instance, ads can be triggered during the onboarding process or displayed on the welcome portal, helping banks promote services such as credit card offers, mortgage or auto loans, retirement planning, investment banking and business banking.

When a customer returns to a branch location, without even needing them to connect to the Wi-Fi, a ‘Welcome Back’ message can be sent to their mobile device. This works to help customers feel a more personal connection to the bank, which in turn incentives them to trust the bank with future banking needs.

Surveys can also be prompted, for example, after a customer has left the branch, asking them to rate their visit. This is an easy and effortless way banks can gather feedback and figure out how to make improvements to the location and service.

Many banks have been closing their brick-and-motor branches for some time now. But those still standing need to evolve – from longer opening hours, and more qualified staff on hand, to providing a secure and interactive digital banking experience, all this can be done with guest Wi-Fi.