Page 9 - Finex ITM Implementation Case Study

“I would say don’t go ‘all in’ at the outset because initial implementation is never perfect. You
have to be comfortable in one location, and then build from that. Be prepared to make some

adjustments on the fly and learn from your experiences. Make sure your staff is speaking in
one voice, so members experience a smooth transition with scripted answers to a range of well-
anticipated questions. When you spend thousands of dollars on a technology and a member
says they hate it, if you have no transition strategy in place to help them, you’ve achieved
nothing. Upper management has to champion the project, and Marketing should create Q&A’s
and scripts for employees. Take the best member-facing staff you have and place them at
concierge desks or next to the ITM in the beginning. It’s all about the message. If necessary,
have bi-lingual staff available so members feel comfortable. Market the changes
enthusiastically to members ahead of time. Keep them informed as to how construction is
going, post pictures on social media and in member email newsletters. Let them know you’ll

definitely be there for them, and reassure members and staff that nobody is losing their job.
The various platforms to facilitate all of this have to be in place ahead of time.

“The physical transformation is more cut and dry. Choose a design and construction company
that knows the process intimately. They ensure the technology is installed correctly, and
coordinate all the other physical aspects, which only come with experience. Solidus has that
experience, partly through working with various New England credit unions, and partly through
their general expertise in the design and construction of credit unions and community banks.

Working with experienced players in this space can absolutely lower the risks and the
associated stress.”

ITM Automated Branches—the Future

It’s easy to envisage branches being designed completely around ITMs. We already know that
ITMs will change branch activity in general and that they enable more complex transactions in

standalone locations away from branches? Solidus is also experimenting with new branch
prototypes with few or even no staff, incorporating ITMs inside small footprint branches whose
exteriors are designed to function as a “billboard” for the financial institution’s brand. Did
Woodward agree, or is he seeing other trends?

“Electronic transactions are increasing, but it’s still difficult to predict exactly what form the
majority of these will take in the long term. If members decide to handle banking on their own,
branches will become more specialized. I think members are still looking for a branch meet-

and-greet, especially for financial discussions. We have also built smart offices into our designs,
which includes flat screen TV’s that connect remotely to the main office, where there are
financial advisers. However, we have found that members don‘t want to close on their own;
they want to be in that room with a staff member.