When it comes to customers, financial institutions must strike a balance between serving in-person customers and those who bank remotely.
“Research shows that one third of our customers never visit a branch,” said David Stein, executive vice president and head of retail banking Associated Bank. “They’re visiting ATMs, banking online or using mobile devices.”
Headquartered in Green Bay, Associated is Wisconsin’s largest financial institution, with more than 200 branches in Wisconsin, Illinois and Minnesota. While the bank has invested in a robust online banking experience and new technology for its customers, Stein said the company is also focused on making sure the in-person banking experience is a good one.
“The physical branch still matters, even for our digitally savvy customers,” he said.
While online banking has been around since the 1990s, many customers still aren’t comfortable with it. Associated is updating its branches, including adding “demonstration zones” where customers can learn more about new banking technologies.
Stein said Associated Bank customers can check their phone for account balances, to transfer funds and make deposits. “You can take a photo of the check – front and back – and then use the app to deposit it,” he said.
Staying abreast of technology is important for Associated, and it’s looking to stay current with such additions as Apple Pay, Stein said.
“But in everything we do, we stay focused on security and make sure our customers’ information is safe. That’s the top goal,” he said
