Today, you can book almost anything online, including a movie, dinner, spa appointment, and dentist appointment.

Most people are unable to do this at their own bank or credit union. They call, email or come in. Waiting in line, waiting on hold and hoping for an email response is what they do. They don’t always have a way to contact someone when they need to cancel an appointment or reschedule it, so they just skip the appointment. No-show rates have reached an all-time-high.

This situation is not only stressful for individuals, but also puts pressure on teller who must coordinate with each other and operations managers who may not always be aware of their upcoming appointment. Plus, branch and retail managers set staffing levels based on estimates rather than actual capacity.

Appointment scheduling software can help. This easy, fast, and rewarding solution provides customers and members with the seamless experience they expect from your business.

This blog discusses the top benefits that appointment scheduling software can bring to your business, including how it can improve customer satisfaction, customer loyalty, operational efficiency and more.

Why is appointment scheduling software so important?

Appointment Scheduling Software is essential for credit unions and financial institutions looking to retain and gain clients for two reasons: digitally-savvy competition and changing consumer demands.

  • Digital Competitors As a growing number of fintechs and digital banks take wallet share from banks, it is important that banks and credit unions do all they can to remain competitive. To do this, convenience is key.
  • Customer Demands: After COVID, the demand for quick, convenient service has reached a new level. In 2020, 50% of all customer activity will be digital, and 32% want to avoid branch locations altogether. Nearly half of consumers would use video appointments and 50% prefer to open a new account online.

Customers and members want to be able to interact on their terms. They want greater digital options, personal choice and ease of use, and they will abandon institutions who don’t provide it. One area (often overlooked) that can help achieve this is self-service appointment scheduling.

Transparent appointment systems are not just beneficial to the individual, they’re also a great tool for teller and advisors. Due to the current economic crisis and labor shortage, staff are overworked and tired. Appointment scheduling software allows them more time to serve customers.

In the end, appointment scheduling software can be important for credit unions and banks that are looking to grow, retain clients, attract digitally savvy individuals, improve staff efficiency and increase growth. It can have a significant impact on the member or customer experience, and be a valuable productivity tool for employees.

What are the advantages of an appointment system?

  1. Improved Customer Experience and Retention

Clients who do not use appointment software often face long waits, lack of flexibility and unknowable waiting times. They waste time calling the local branch, or the call center to change or reschedule an appointment.

A poor customer experience can result in lapsed memberships and appointments, as well as missed revenue opportunities or growth. Appointment systems can alleviate all these concerns for members, customers and staff. They do this by increasing efficiency, flexibility and customer satisfaction.

  1. Improvements in Operational Efficiency

Instead of wasting time on coordinating meetings, waiting for no-show clients, or annoying members with unnecessary follow up, your staff could focus on matching people to the right products and/or services that meet their needs.

Bank Appointment Scheduling Software reduces administrative costs and burdens for both tellers, and advisory staff, by optimizing workflows and increasing efficiency. Also, they have shown to reduce wait times and the length of appointments. This is a win for both time and money.

  1. Increased Revenue

Financial institutions can lose revenue due to long lines, incorrect transfers and prolonged call center hold time. Up to 68% of people will abandon the digital onboarding for a bank product by 2022 due to poor customer experience.

A good appointment system can be a great way to recapture revenue by strengthening relationships with clients. Here are a few examples of how credit unions and bank can determine the ROI of their appointment software.

  • Bookings of products and services increased (mortgages or loans, financial investments, etc.)
  • Close rates that are better
  • No-shows, cancellations and reduced no-shows
  • Missed transfers and increased successful handoffs
  1. Improved Decision Making with New Data Insights

A platform that tracks and reports data better gives credit unions and banks greater control and visibility.

Banking Analytics makes it possible to better understand the impact of staff performance on revenue and sales. Say goodbye to guessing games and instead, let data insights empower you to improve your institution. You can, for example, determine which services, products, or branches are most popular so that you can adjust staffing and offerings accordingly.

What are the top 8 benefits of appointment systems for customers and members?

We’re ready to take on the challenge of summarizing all the benefits of appointment software. A bank appointment system will improve the lives of your customers and members.

  1. Convenient Self Service

Consumers today want quick, easy service at their convenience. Instead of waiting in line or on hold, consumers want proactive solutions that they can access from anywhere and anytime. Appointment scheduling gives them that self-service they desire, allowing booking, changing, or cancelling appointments quickly and easily from any device. There is no need to wait in support queues, or engage in phone tag.

  1. Instant Routing

Customers are directed to the best staff member for their needs by appointment scheduling. The customer can choose from a list of convenient options to find the best appointment time, location and service for them. You can search for accommodations or special needs (such as language preferences, wheelchair accessibility, etc.). See what is available. Instant routing provides customers with the frictionless experience that they desire.

  1. Easy Rescheduling

Life happens. When someone is sick or has an emergency in their family, they don’t want to wait on hold to reschedule a financial appointment. Bank appointment software allows them to cancel or reschedule an appointment in just a few simple clicks.

  1. Virtual Appointment Options

This convenient, time-saving service allows customers to receive the same high-quality service as an in-person meeting without having to travel. This easy, secure option is perfect for customers who have busy schedules or childcare obligations.

  1. Important reminders for pre-appointment appointments

A friendly reminder can be the difference between someone showing up for their appointment or not. Automated pre-appointment notifications are sent to customers at the perfect time, so they don’t forget their appointments. The customer will also be notified of any documents or information needed for the appointment.

  1. Check-in automatically

The solution to long queues in branches is to use queue management software (often connected with Appointment scheduling system). When customers arrive, they can check in quickly on a kiosk or lobby screen. They will then receive a notification once your staff are ready to serve them. Automated check ins result in shorter waiting times and happier customers.

  1. Shorter, More Efficient Appointments

Simple: Appointment setting software allows for faster and better appointments. Tellers can better serve customers by being prepared with tracking tools and data on customer history. Thanks to reminders and pre-appointment information, customers are prepared to provide the necessary documents to complete their service.

  1. Improved Follow-up After Appointment

Software that schedules appointments ensures no details are missed after a meeting with a client. The software allows tellers to track notes from appointments, integrate it with CRMs, and schedule follow-up appointments or calls.

The benefits of appointment systems for bank and credit union staff and operations

The benefits to customers and members of appointment systems are obvious. Banks and credit unions also benefit from this software in terms of staff efficiency and branch operations.

Explore the many benefits of appointment scheduling software for frontline staff and advisors. Also, retail and branch managers and members or customer experience professionals can benefit.

  1. Increased Customer Satisfaction

It’s clear that customers love the convenience of appointment systems. Implementing the technology can lead to higher customer satisfaction, closure rates, retention rates and more. Appointment scheduling increases revenue as it improves customer satisfaction. Happy customers are more likely than not to buy more.

  1. Growth of Customer and Member

Customers will book more meetings if the software is easy to use and intuitive. Self-serve links to services or advisors can be used to promote the “book an appointment”, resulting in more bookings and, ultimately, higher revenue. The software can help staff members build better relationships, and offer a better customer experience. This will lead to higher close rates.

  1. There are Fewer Missed Connections

Staff members are not the only ones who suffer from phone tag, email chains and missed appointments. They also affect your institution’s bottom-line. Appointment setting software can help recover revenue by eliminating missed appointments. The customers can manage the appointment setting process proactively and cancel or reschedule if necessary, rather than leaving your frontline employees hanging.

  1. Improved operational efficiency

Appointment systems are a great way for financial institutions to save both time and money. You’ll also save money when you reduce the amount of time you spend on appointments. Instead of manually managing appointments in multiple time zones, employees can enjoy automatic calendar synchronization. Tellers can spend more time preparing for appointments and less time doing administrative work. They are more efficient and empowered to perform their jobs well. This leads to happier, productive employees.

  1. Meet Digital Innovation demands

Digital transformation is a mandate for many financial institutions. Video banking and self-service scheduling tools are quick and tangible ways to increase your members’ and customers’ digital engagement. More consumers are demanding the same technology from their banks as more industries adopt appointment-setting technologies.

  1. Improved insights across the customer and member journeys

It is impossible to track offline interactions between staff and customers, yet walk-ins and voicemails are important parts of the customer journey. Appointment scheduling software provides data insights that help institutions improve customer service. To improve customer experience, institutions can use appointment scheduling software to better understand popular products and services, preferences of customers, close rates and more.

  1. Staffing Optimization

Are you aware of when your tellers have been overbooked, or underbooked? Do you optimize staffing to accommodate busy or slow periods? Addressing these issues without an appointment system can be difficult. The right software can make the process easy, as it allows you to see instantly which staff members are overbooked or busy. You can also find out who is selling the most product. These data can be used to make informed decisions regarding staffing levels and training requirements, branch strategy and more.



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