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iBeacon Implementations for Banking

As a technology that keeps growing, implementations of iBeacon keep showing. Not just in a retail but also in many sectors such as public transportation and in a building.

In building we can find smart office or smart home with this technology. Recently, iBeacon was used for event such as Coachella. It helps the visitors to order food or drink and get updates of the event.

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It is possible to implement iBeacon for Banking too. Here are 10 examples of iBeacon for Banking:

  1. Welcome Communication: As customers pass or enter a branch, the bank can deliver a welcome message to the customer and a summary of services available at the branch. This could include a personalized map of the office and the available specialists currently at the office. Any special offers can also be highlighted.
  2. Customer Recognition: When a customer enters a branch, branch personnel can be alerted and can be provided transaction history and sales prompts for interacting with the customer based on their value. This enhanced recognition can improve service and loyalty.
  3. Availability and Wait Times: Much like at an Apple store, a customer could be provided the wait times for specific services/specialists as well as a way to set an appointment using their smartphone app.
  4. Personalized Product Offers: Offers based on previous customer activity, account ownership and even demographics and credit score can be sent to the customer’s smartphone upon entering the branch. This could allow for dynamic pricing of services or rewards offers based on the customer’s current relationship or relationship potential.
  5. Location Specific Offers: If a customer is standing at a deposit slip counter, they could receive a notification (along with introductory video) related to remote deposit capture services.
  6. Customer Education: When a customer is waiting for a teller or platform officer, highly relevant short form educational videos can be delivered to the customer’s smartphone for viewing. These could include direct links to already partially completed application/authorization forms.
  7. Surveying: iBeacon can provide a way to solicit customer opinions and service ratings when the customer visits or leaves the branch.
  8. Branch Analytics: With iBeacon, banks will be able to understand which customers are using branches, what are the busiest days and times, how long on average are customers spending in branches and what type of transactions customers are completing. This data can assist in optimizing the branch experience for customers in the future. This data can also assist in cross-channel attribution tracking.
  9. Beacon Enabled ATMs: For customers who have authorized communication via their mobile device, personalized offers can be delivered to the phone after an ATM visit based on the customer’s relationship. This technology could also potentially replace the need to use a card to access the ATM.
  10. Post Visit Retargeting: The ability to communicate with the customer via mobile, online, phone, etc. after a branch or ATM visit is possible applying the learnings collected during the visit.

source: thefinancialbrand.

About Girly Saputri

Girly is a Content Marketing at Eyro Digital Teknologi, Ltd. She is also a copy writer and likes cheeseburger. She writes about iBeacon and its implementation. You can find her on LinkedIn as GirlySaputri.

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