DBS new flagship branch concept reduces transaction time by half
DBS’ state of art branch makes use of technology, design and innovative concepts to serve customer faster and align their branch banking experience with e-channels. January 15, 2013 | Durva LakhlaniPreamble With the entrenched use of mobile technology and the Internet among bank customers, Singapore’s DBS Bank felt the need to introduce a superior customer experience at the branch that customers can resonate with, as well as reduce customer waiting time and improve productivity. One Key Performance Indicator for this branch is to ensure 80% of customers are served in less than 15 minutes. Background DBS is the largest consumer bank in Singapore with S$44.7 billion in retail assets (2011), serving over four million retail customers. It has 90 branches in Singapore, including some under the POSB brand. Each branch serves an average of over 48,000 customers. DBS categorises its retail customers into three segments: Mass (under S$200,000 assets), Treasures (S$200,000 to S$1.5 million assets) and Private Client (assets over S$1.5 million). New branch details Features of the new branch: • A floor area of 9,000 square feet with another 20,000 square feet of space dedicated to the DBS Treasures and Private Client service areas. • 40 staff, 80% of which are sales, while the rest are sales support. • Located in Singapore’s Central Business District, it aims to serve professionals and business customers in the vicinity. Relationship Managers can visit customers in the area when required. • The branch expects to serve 150 customers per teller per day (against an average of 100-120 in other branches), which would match the customer traffic seen at the Shenton Way branch, which it replaces. The branch is only few months into operation and the bank expects a lot more traction going forward. As of now it already handles 1,500 TT transactions per month. An open floor design with a spread out waiting area allows customers a full view of the branch Figure 1. Floor Layout Please login to read the complete article. If you already have an account, you can login now or subscribe/register. Categories: Branch Banking, Channels, Customer Centricity, Innovation, Internet Banking, Retail Banking, Singapore, Technology & OperationsBranch Banking,Channels,Customer Centricity,Innovation,Internet Banking,retail,Singapore,technology, Branch Banking,Channels,Customer Centricity,Innovation,Internet Banking,Retail Banking,Singapore,Technology & Operations, Keywords:DBS Bank, DBS Treasures, DBS Private Client, Deutsche Bank, Umpqua Bank, CBA, HSBC Premier, YES Bank DBS Bank, DBS Treasures, DBS Private Client, Deutsche Bank, Umpqua Bank, CBA, HSBC Premier, YES Bank
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