2020 Planning For Financial Institutions: Develop a Winning Plan for 2020 and Beyond

How Technology can lead to superior Customer Experience by changing the focus from TRANSACTING to INTERACTING

HOW CAN I GET STARTED IN MY INSTITUTION?

Introduction

Hard to believe it's already Q4 of 2019.  This page is set up to offer key areas to include as you look at your budget for 2020 and how you'd like to impact your experience across a variety of business lines.

 

Interactions instead of Transactions

Customer Experience is no doubt one of the top discussions going on in banking today. On this page, we focus on key areas of the branch, ATM, Digital Banking, and how you can improve efficiency and generate better customer experience across those channels to win in today's competitive environment.

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Branch

Branches of Financial Institutions in 2020

TCRs

Teller Cash Recyclers continue to grow in the market due to their impact on efficiency and allowing staff to focus on client experience.  TCRs are able to process high volumes of cash in and out transactions, speeding up commercial transactions and check-cashing. TCRs also provide key security measures to open branch design concepts.

With Windows 10 headaches likely being addressed in 2019, 2020 will see another surge of TCR Implementations to continue to drive down efficiency ratios and improve staffing alignment across the branch network.

LEARN MORE ABOUT TCRS

Cash Discriminators

If you’re looking for another great way to impact cash-heavy branches, consider cash discriminators. Cash Discriminators are money counters that read mixed currency and when paired with our integration, you can take a commercial deposit, run it through the machine one time and push those values directly into the cash-in screen of your teller system, eliminating key errors and the excuse of tellers not having time to denominate deposits. 

SEE PRODUCTS

Discriminator with Integrated Commercial Deposit

 

How do you plan to improve your client's experience?

Make your branch interactions more efficient, impactful and profitable today! If these ideas align with the problems you are trying to solve in your institution then lets book a meeting. 

HOW CAN I GET STARTED IN MY INSTITUTION?

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ATMs and ITMs

Life after Windows 10

Many FIs have made Windows 10 upgrade/replacement plans for their existing ATM fleet, but many are still interested in knowing if ITMs will be a strategy for 2020-2021.  Are you considering ITMs and how extending hours, adding functionality, integrating to your CORE could drive greater efficiency, satisfaction and provide value to your clients?  Check out some of the content below.

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Service

Service

Many of you either made capital purchases or upgraded existing assets in 2019.  We encourage you to review your service options.  Do you have too many vendors to keep up with?  Are the contracts always renewing at different times?  Is now a good time to think about managed services, to relieve pressure from your internal team?  Is your vendor actually performing the Preventative Maintenance you were expecting?  Do you have uptime SLAs in place on your ATMs?

At QDS, we've been successful by doing what we say we are going to do.  We also aim to tie our success to yours.  We know you don't want your devices down, especially at crucial times.  We're here to help!

Select Your Vendor

Now that you’ve made some new Hardware decisions, are you considering which vendor will take care of your new ATM channel? 

The implementation of managed services has been a huge driver for many FIs looking to reduce operational effort internally and allowing ATM/ITM vendors to do more of the heavy lifting. 

Managed Services is a fairly generic term, so check out the impacts around Managed Services and see if it fits for you:

Learn the benefits of ATM Managed Services

Vendor or Partner?

Accountability 

If you’d like your contracts to revolve around accountability of your devices being up as opposed to how quickly the vendor can get a technician there, perhaps we’d be the partner for you.  At QDS, we believe the key factor of channel success is: UPTIME. 

While the number of technicians can be important and response time can be as well, at the end of the day, you want your devices working for your clients and revenue-producing foreign transactions.  That’s what we believe and our clients do too.

Due Diligence 

Vendor Management has become an increasingly more diligent process for FIs.  With the ongoing focus around cybersecurity, QDS as a managed service provider has taken the lead in protection and process around cybersecurity.

What we have focused on for due diligence:

  • Crime insurance
  • 24/7/365 monitoring of our network
  • Moving key tools into Azure with the latest security enhancements
QDS doesn't want to just comply, but lead the way with information security at the forefront of how we take care of our clients ATM network and other key systems.

Ask about our Due Diligence Packet

What does it mean to win with service?

Understand what is it like to work with a winning service provider and the difference it can make for your institution. 

Watch the Video

Teller turnover 

Training is such a key part of how we help clients be successful with technology.  The reality of the market is teller turnover is one of those constants.  We offer branch retrains often to align new teller leaders or new branch staff to their technologies to ensure they take advantage of ALL the features they can, versus just the few that have trickled down over time.

 

Documenting procedures

Another way that QDS drives value, is helping clients document procedures.  While many of our clients have training departments, the move to TCRs will often change a variety of current processes that may be done manually.  Our staff is well versed in end-to-end balancing and audit procedures and can provide wisdom and documentation, in the FI's own language at their request, to help Operations fully benefit from the efficiencies the technology can provide.  Ask today about our custom manuals and how we can help better align your front line operations and processes.

Balancing Support

While the machine is certainly part of the solution, making sure the staff understands how to balance and track cash is vitally important to overall success.

Our balancing support buckets allow our team to help in those key panic moments at the end of the day to help track down outages, provide support to concerned tellers and overall support closing out the day correctly.

This peak time of activity normally revolves around 4-6pm, and we are here to help.  If you're not on a support bucket for balancing support, we're happy to get you set up today to ease your team's fears in those key moments.

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Retail Cash Capture

Retail Cash Capture

Over the last 15 years, remote cash capture technology has quietly been used by some merchants to deter theft and improve cash management. The deployment of secure, currency-accepting hardware devices or “smart safes,” coupled with cash tracking and reporting software has helped merchants manage this process. As banks began offering provisional credit for validated currency residing in smart safes at business sites, demand intensified – yet remote cash capture remained largely a solution for armored couriers, big banks and big merchants due to the costs and constraints in the marketplace.

That was then. Recent changes in the way remote cash capture (RCC) is being delivered have created a positive business case for regional banks, community financial institutions and merchants alike. These more flexible, cost-effective solutions have arrived at a critical juncture – a time when financial institutions must find new revenue opportunities and improve client relationships. Experts predict that retailers of all sizes, struggling to contain costs in uncertain times, will now be attracted to RCC on a large scale.

What is CASHINTEGRITY?

CASHINTEGRITY is a bank-owned cash automation solution that allows the financial institution to provide smart safes, recyclers and provisional credit to their commercial clients.  It allows the bank to reduce the amount of cash in the branch, expand its geography, and increase margin and add revenue opportunity to the Commercial Bank.  CASHINTERGRITY integrates into the bank's core to allow for auto reconciliation and near real-time visibility for the bank and their clients all available in a web portal.  

Download PDF

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Digital Banking

Digital Banking for Financial Institutions and what to consider in 2020

Online Lending

Online Lending is one of the hottest areas of FinTech.  QDS has partnered with C2 Lending and their Covalent product to help our clients with consumer lending and decisioning.  Many community banks and CUs struggle to generate profit on the loan generation side based on the number of steps in the manual process that’s followed.  Covalent steps in to allow you to streamline lending online and give quick, automated decisioning, to compete against the larger banks out there.

 

 

Video Banking

While there has been increased deployment of ITMs, video in the transaction channel may not be the best spot to invest in video technology.  The sales channel, including account opening and lending can be fueled by mobile and tablet video banking from our partner PopIO.  Picture FaceTime meets DocuSign.  Clients are able to get loans done with a banker in real time from the comfort of their home, work, or anywhere.

Scroll down for a PDF handout download on this as well as what features you can expect with video banking. 

 

PopiO

Improve convenience, build trust, win customers, and create virtual branch experiences anywhere through video banking.

Strategic Use Cases

  • Centralized lending - centralize staffing and deliver experts across branch networks and beyond without them being physically stationed at every branch. Further transitioning the movement of centralized tellers. 
  • Serve New Areas - Easily deploy personal relationships and trusted advisors through an entirely digital channel to new markets or areas where no branches are located. 

Download Flyer

Benefits of multi-channel video banking:

  • In branch, mobile and web (In that order)

  • Convenient (Ensure experts are in every branch with video banking and ensure consumers can bank when, where and how they want through mobile video banking. 

  • Fast & Easy (5 minute average call time)

  • 51% of video calls are related to some type of value-added transaction (loans/new accounts)

  • 94% Positive Feedback (This year is actually trending at 95%, but we haven't published that yet)

 

Features of video banking:

  • Emotional recognition
  • Video check deposit
  • Video recordings
  • E-sign
  • Document exchange
  • Presentations
  • Screenshare & Cobrowse
  • Text chat
  • Customizable & automated workflows
  • Session review & Reporting
  • Dynamic call routing & Warm Transfers
  • Meetings (Multi-Party Video Collaboration)
  • Patented video collaboration benefits of video banking

POPiO Video Banking

If you are eager to learn more about how your institution can implement video banking to offer a better experience for your clients click here! 

I want to learn more about video banking!

C2 Lending

C2 Covalent helps financial institutions make fast, consistent, high-quality credit decisions in an easily-deployable, cloud-based Loan Origination System (LOS).

For your associates, this means consumer and small business loan origination with robust regulatory compliance and significant cost savings. For your customers, it means a more seamless and efficient point of sale experience through additional product offerings and lending decisions that are made within minutes.

The C2 Covalent ecosystem includes tools that can be utilized from point of sale, through underwriting and doc prep. Covalent connects to all of the vital third-party data sources for the various types of consumer and small business lending you do today. And through our automation layer architecture, new data sources of tomorrow can be easily integrated so that you always stay current.

All of these components can be combined to create the workflow and level of automation that is custom fit for your institution.

Learn More

Benefits of C2 Lending: 

It really is the best of both worlds. C2 is the only firm that combines connections to all of the vital third-party data sources with a flexible mapping tool, characteristic builder, and rules engine that enables quality, quick, consistent, compliant decisions.

We allow you to create a customer experience that matters. Not just a quick decision – the right decision. And targeted product offerings. All while they’re still sitting across from you.

  • The Most Current Data Sources
    With C2 Covalent’s key partnerships, we provide connections to all of the vital third-party data sources. Updates included.

  • Fast Deployment
    Lenders love C2 Covalent’s instant usability, predefined product types and modules. Spend less time on training and more time on the customer relationship.

  • Robust Compliance
    C2 provides modules for regulatory and compliance monitoring. C2 also manages and maintains rules within these modules and provides updates as regulations change.

  • Increased Profitability
    Flexible reporting, increased customer share of wallet, and significant time savings for your analysts. It all adds up! And actually – it multiplies.

Features of C2 Lending:

  • Quality Decisions Fast
    You get access to the data that you need to make fast, consistent, high-quality Consumer and Small Business credit origination decisions in the shortest possible time.

  • Cloud-based Access
    Unlike outdated software intended for centralized use, C2 Covalent was natively designed and built to provide secure transparent access on desktop and mobile devices.

  • Integrated Doc Prep
    Our legal document preparation process and partnerships provide highly-trusted built-in compliance with state and federal regulations.

  • “Analyst Accessible” Customization
    Your analyst – your rules! When your lending policy changes, you’re able to modify the loan origination automation process without getting software developers involved.

  • Highly-intuitive Interface
    Our system is so intuitive that your associates will have near-instant usability. In the time it takes to open the bank in the morning, you can have your users trained on the system.

  • Core Interface
    Interfacing to your CORE system has never been more efficient and error-free with C2 Covalent’s integrated connectors.

Getting started with Online Lending

If you are eager to learn more about how your institution can implement online lending to offer a better experience for your clients click here! 

I want to learn more about online lending!

What is the first step to 2020?

If you have questions around how these solutions can support your 2020 planning we would like the opportunity to outline that for you. Click below and a member of our executive team will reach out to discuss your strategy and where QDS can help. 

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HOW CAN I GET STARTED IN MY INSTITUTION?

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