Fremont, CA: As consumers increasingly turn to digital devices for increased productivity, financial institutions must embrace the advantages of mobile technology in the workplace while also understanding the challenges.
For financial institutions focusing on digital banking transformation, mobile technology is more important than ever. Because of the significant shift from in-person to digital banking engagement, banks and credit unions must provide their employees with access to mobile tools that can enhance the speed, efficiency, and convenience of daily activities while also improving customer engagement.
Advantages of Arming Employees with Mobile Tech
Decreased Overhead: When the pandemic struck, most employees were forced to work from home. This gave financial institutions a better understanding of the need for physical facilities ranging from branches to call centers to headquarters. Banks and credit unions can decrease overall overhead by rethinking the importance of physical facilities.
Improved Process Flow: The ability to rethink front- and back-office processes that can improve the speed and simplicity of legacy operations is a critical component of digital banking transformation. For example, rather than rebuilding new account opening and loan application processes on legacy branch systems, many organizations have rethought these processes with in-branch mobile technology while also rebuilding consumer mobile engagement processes. This enhances the in-branch customer and employee experience while also supporting the overall digital banking transformation.
According to the research, 72 percent of employees and 85 percent of remote workers believe mobile technology is critical to productivity—both the organization and the customer benefit from this.
Workplace Flexibility: The main advantage of using mobile technology is that it allows employees who are not at a company facility to connect to the network. With many employees still working from home in a hybrid or full-time capacity, mobile technology is critical. Employees can use mobile tools to stay connected at all times, increasing worker availability and work generation.
This bolsters the desire for flexible working hours at a time when many employees are juggling work and family obligations. Providing a better work/life balance can lead to increased productivity and fewer sick days.
Finally, employees can use mobile devices for presentations in the office or on the road, allowing them to access available data and resources without being tied down to a single location. This is especially useful in interactions with customers in small business banking, corporate banking, and wealth management.
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