The ATM or Automated Teller machine is a machine that has really helped. That is, in balancing CFT or the Customer Foot Traffic in the banks. Many also think that ATMs has affected the job industry. Precisely, all over the globe not only in Canada in North America. However, it’s not so true. On the contrary the level of convenience that ATMs has given. Thus, while reducing the CFT or the Customer Foot Traffic. Ironically, is just amazing to see. Practised all over Canada, as it has made fast cash a norm. Thus, also reducing the banking operations that mainly relates to heavy bank withdrawals.
‘CFT’ OR Customer Foot Traffic & THE CONSUMER BANKING INDUSTRY:
Customer Foot Traffic or the CFT in banks & Consumer Banking Industry has a relationship which is very unique & very interesting. Consumer banking Industry relates to the banking sector. An industry that is highly focused on dealing with the customers on a one-to-one basis. If you need to apply for a loan & you need to apply in-person while discussing all the financials. You need to pop-in the bank for the sake of discussing the scenario with the bank agent or the CSR i.e. the Customer Service Rep.
A scenario that makes things easy for you as a customer as well as giving you more peace of mind. At the same time, if you need to withdraw some amount let’s say just 50 CAD you wouldn’t go & take an appointment with the Bank representative or the CSR. Obviously, for such things you have ATM or Automated Teller machines that have reduced the activities of the reps by a massive 70%-80%. The level of convenience it provides to the banks as well as to the customers & the reps is the best thing in this fast-paced financial world.
Similarly, if you are looking for a change of PIN# & you pop-in the branch than most of the Customer Service Rep. wouldn’t consider you someone who is literate enough to go ahead with the banking. It’s not just about literacy, it is also about having computer literacy or having a decent know-how of the way an ATM software works or being equipped with knowledge of Technology, Smart Apps & Touch. For instance, due to some factors you are lacking to know how to change your Pin#. The CSR or the Customer Rep. would train you for that in writing or showing you some images or snapshots of the process that’s happening on the software.
IS REDUCTIONS IN CUSTOMER HANDLING A CAUSE OF JOB LOSSES IN THE BANKING SECTOR?
Well, as a matter of fact the reductions in customer handling can be true for few job losses, but regards to the convenience factor it’s a big achievement.
Very basic Customer Rep. Job regards to help & query for ATM customers is no more a requirement in the banking & financial sector. Alternatively, if it might even be it’s not that highly priced in terms of the package. Similarly, these are job duties & roles that the interns can also provide with the same eagerness.
But the question here is, Is the banking sector still the same than what it used to be earlier prior to ATM sector involvement? Well, the fact is that it’s not.
BALANCING THE ‘CFT’ IN BANKS- ‘IS IT A REQUIREMENT?’
It is indeed a requirement of the banking industry in Canada especially. Banks with more Customer Foot Traffic are the ones. Especially, where man management has the tendency to get difficult or even worse. The ATMs have balanced it. Also, helped a great deal in managing or man-handling of the most eager customers. Obviously, the ones who can’t miss to pop-in the banks.
As part of the banking policies. The bank staff are discouraging the practice of popping-in branch for petty issues. They are only encouraged if the need level is high. Something, which can be judged easily on the phone. That is, prior to giving the customers an appointment with the representative.
This requirement & meeting up with the requirements has made the banking sector even more prestigious. Especially, in the eyes of the customers. The value & the prestige shouldn’t be lost. Thus, as it is something that makes customers value the facilities available in the bank for them.
The ATM or Automated Teller Machine is not just a machine that gives Cash. In fact, it is also a machine that has given the relief. Particularly, that is a big-time relief for the banks. The banks can focus more sustainably towards meeting up with the customer demands & that also with least interactions. An example of such a scenario is ‘One Touch Banking’. Touch banking & ATM that are highly interactive with the customers. Obviously, has made the customers more being highly trained for self-service. Just like self-service checkouts at the kiosks in retail industry. Therefore, the upcoming era is having larger reliance on self-service. Furthermore, human-free banking. A practice that makes the customers perfect obviously with the passage of time.