Here’s How Regions Bank Is Embracing Omnichannel for the Best of Both Worlds
As the world slowly and tentatively returns to some semblance of normality following the COVID-19 crisis, there is an opportunity for banking brands to reevaluate their offering and seek better ways to meet the needs of customers.
During the pandemic, physical branches were forced to close their doors and we saw a massive shift towards online banking, accelerating a trend which was already in motion long before the word coronavirus entered the global lexicon. The temptation therefore is to continue along this trajectory and further embed digital only banking as the direction of travel for the entire industry.
However, not all brands are fully committing to the online space, and many are still seeing significant value in brick-and-mortar banking locations, choosing to invest in an omnichannel strategy instead of going all in on digital.
Regions Bank
One such brand is Birmingham, Alabama based retail and commercial banking, trust, stockbroker, and mortgage service provider, Regions Bank, which has been investing in digital technology but always through an omnichannel lens.
"How a customer defines a relationship with their bank going forward will be directly tied to how the digital experience contributes to the overall experience," said Metro Atlanta Market Executive for Regions Bank, Bill Linginfelter. "The omni-channel experience opens up possibilities to bank in more ways that are convenient to a customer under any circumstance."
Regions is therefore committing to reimagining its Atlanta branch network, with an emphasis on personal service, alongside new digital tools which it says will empower customers to have increased flexibility and choice when it comes to how, when, and where they conduct banking activities.
Digital technology has the power to offer new levels of convenience and security when it comes to banking - whether through biometric identification, automatic transactions, contactless payment options, or any one of dozens of other methods. However, these options carry the greatest advantages when combined with the personal, human touch of the physical banking experience where they can play an augmenting role rather than one of replacement.
"How a customer defines a relationship with their bank going forward will be directly tied to how the digital experience contributes to the overall experience," continued Linginfelter. "The omni-channel experience opens up possibilities to bank in more ways that are convenient to a customer under any circumstance."
The Role of the Branch
Identifying the importance of maintaining a solid footprint of physical branches, Regions Bank has been reimagining the physical banking experience with several new locations established throughout the North Georgia region.
Designed from the ground up to combine the latest developments in digital technology with the kind of face-to-face personalized experience a customer would expect from a traditional bank but with a modern twist, these latest additions to the Regions Bank network are sure to provide the right balance between physical and digital banking.
The branches don’t have any traditional tellers and are instead staffed by a local banking team who greet customers as they enter the bank and get right down to helping them with the reason for their visit that day. There’s no waiting behind counters and the banking professionals who greet them have all the knowledge and skills required to help them with everything from a simple deposit, to opening a new account, and more detailed discussion such as taking out a loan or arranging a mortgage.
Regions Bank branch associates are also fully trained to help customers plan out a financial roadmap which can help them make the most of their finances through saving, investment, and other methods of planning for a more secure financial future.
"We have redesigned the branch system to bring these more modern, more effective locations to communities across the Atlanta market," said Linginfelter. "By blending digital banking with relationship banking at the local level, you can help customers make better financial decisions in a timely way, which is part of our focus – to provide trusted financial services to all members of our community."
Video Banking ATMs also customers to choose a standard ATM service or connect with a Regions video banker via live, two-way video for personal service during expanded hours. Whether it’s early in the morning, or as late as 9pm on weekdays, Regions Bank video bankers can provide most of the services a traditional teller can provide. They’re also available during the day on Saturdays and during the afternoon on Sundays – further expanding the Regions Bank service offering beyond normal business hours.
Final Thoughts
Combining digital technology with the physical banking experience is a fantastic way to provide customers with the best of both worlds and more choice when it comes to conducting banking interactions. Regions Bank is making significant roads in this area and is sure to be one to watch for inspiration in the future.
You can hear AVP, Artificial Intelligence and North American Tech Consultant for Regions Bank, Austin Kilpatrick, and Fintech/AI Enabled Solutions Evangelist, David Porras speak at Future Branches Austin 2022, taking place in December at the JW Marriott Austin, TX.
Download the agenda today for more information and insights.