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Digital signage in the financial industry

Digital signage in the financial industry

September 10,2015 Posted by Celia Anderson

With the explosive growth in internet and mobile banking channels, banks and other financial institutions are quickly recognising the value of digital signage. As the competition for customer attention increases they are striving to create and deliver messages that engage their clients.


In 2014, 60% of banks tested or deployed digital signage in their branches. This year they are more eager to rollout than ever before, focusing their marketing strategies on digital signage to improve experience and increase product and brand awareness.


According to a survey of leading European and North American banks more than half of respondents from financial institutions have already tried digital signage. There is a desire for more attention-grabbing messaging and enhanced communications but the most common reasons for deploying digital signage are the opportunity for more local and relevant messaging and improved branch appearance.


Across the UK, tablets, interactive kiosks and video walls are becoming the standard for financial institutions, providing a much more engaging experience over traditional printed posters. The key to attracting customers attention and reduce perceived waiting times is to use digital signage strategically:


Energising the customer experience 


While customers are waiting in line to be seen, indoor digital signage can be used as a tool to provide dynamic messaging boards, delivering compelling content that keeps them entertained. News feeds can ensure content remains interesting and up-to-date.


Smartphone and tablet interaction 


Smart, interactive technology keeps customers informed about products and services. In terms of product engagement and personalisation, tools on the smartphone or tablet allow customers to enter their own data to find information such as mortgage types and retirement savings.


Although the scope for digital signage in banks and other financial institutions is huge, there are still day-to-day challenges that a number of banks have highlighted as frustrating in John Ryan’s study. These challenges include message localisation, ease of use in content management systems, and the cost of content creation. With this in mind, it is apparent that banks and other financial institutions are citing end-to-end deployment and management support when choosing a digital signage provider.

 

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