Banking industry adapts as more people conduct their banking online
Madison, WI, July 8, 2014 — As more and more people conduct their personal banking online, community banks such as Wisconsin Bank & Trust (WB&T) are evolving their services both online and in-branch. WB&T recently upgraded its online banking platform and rolled out a new staffing model at its banking centers.
The banking industry in general is evolving toward more efficient use of technology and in-branch staffing. The concept of “universal bankers,” in which highly trained bankers serve customers with multi-faceted needs, is among key trends identified by analysts writing for banking trade publications, such as BAI Banking Strategies’ “ Top Five Retail Banking Trends for 2014.”
“As customers increasingly bank online, a challenge throughout the banking industry is how to efficiently serve customers at bank branches,” said Lu Ann Bowman, Senior Vice President–Retail Banking Manager of WB&T. “As a high-touch community bank, we focus on providing an optimal customer experience across our service lines, including education about the many banking channels available to meet customers’ financial needs.”
WB&T’s approach to achieving those goals has included a new retail banking model rolled out across its retail branches last month. Under the new model, bank employees are cross-trained to provide a wide range of education and services.
On the technology side, WB&T’s upgrade of its online banking platform offers convenient person-to-person payments, remote deposits, easy transfers between financial institutions, and money management and budgeting tools. While some of these services are offered by large banks, they are less common among community banks, which many customers value for their “high-touch” service models.
“Community banking is evolving to offer customers the best of both worlds—local, personalized service and access to leading online financial tools,” said Bowman. “Local banking centers are right at the heart of nearly every town across Wisconsin. As the banking industry changes, focusing on how to serve customers best—through both technology and innovating staffing models—is the way to ensure long-term success of these important institutions in the community.”
About Wisconsin Bank & Trust
Wisconsin Bank & Trust (WB&T) is a community bank with assets of $643 million serving customers in the Madison, Monroe, Green Bay, Sheboygan and southwest areas of Wisconsin. The bank operates nine branch offices and three mortgage origination offices, all located in Wisconsin, and is a subsidiary of Heartland Financial USA, Inc. WB&T is a member of the Federal Deposit Insurance Corporation and an Equal Housing Lender. Learn more at www.wisconsinbankandtrust.com.
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