A bank without tellers
DNA and Warren and Mahoney (WAM) teamed up again to deliver a first for Australasian banking – a bank without tellers.
As part of their retail customer experience (CX) transformation programme, NAB have been developing and testing a number of different formats in order to optimise its network by delivering better customer experiences and embracing technology advances. The bank is looking to design an experience that will move them beyond commodity, and for ways to break away from other banks through service experience.
The new ‘self service’ store construct is one of their most ambitious formats and is a view in to the future of banking - enabling customers to quickly process their transactions with out the need for queueing.
The smart store, as it is known, utilises new technologies to enable customers to have greater ability to process their own cash and cheques. Importantly, the staff/customer interaction experience has been enhanced with the focus now on providing help, guidance and advice rather than processing low value transactions. This improved experience is witnessed by strong sales from the store since opening.
The smart store combines pure and practical transaction zones that enable customers to quickly and efficiently conduct their banking needs whilst also creating lingering zones for more relaxed conversations and information gathering.
The informal standing information areas have NAB technology smart phones, I-pads and laptops for customers to browse the NAB apps and the latest NAB products.
The DNA/WAM team drew upon its experience from banking on both sides of the Tasman complemented with customer centred experience design to come up with the final solution. In what was a highly collaborative approach, we used lean methodology and prototyping and testing cycles to define the final solution.
Previous work for NAB (below) has seen DNA and WAM deliver the core bank retail concept which is being implemented nationwide across Australia. The results from the first new stores are showing a doubling of sales, better staff-customer sales engagement and in these stores self-service cash services have increasedfrom 8% to 31%.