Has Automation Changed the Demand for Bank Tellers?
In the age of e-commerce, there are few basic banking services a person
can't do on their own. Need to pay a bill? Log in to your online account.
Need to deposit a check? Go to an ATM. Need to send money to a friend? Use
an online transfer.
The job of bank teller, or customer service representative (CSR),
is changing in the new electronic world of banking.
Automated Tellers to Replace Personal Service?
Darlene Kunz is a teller at a credit union. She says the number of members
she sees in person is down. People are choosing to use Internet banking, telephone
banking, direct deposit services and ATMs for the services tellers have traditionally
provided. "Tellers are becoming an obsolete thing," says Kunz.
Younger clientele especially favor modern alternatives, says Shruti Jumani.
She works on the banking team for a securities company.
But Jumani says the older generation still prefers personal interaction.
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Automated services can annoy customers of any age. Many people get frustrated
when they have to listen to long, automated menus for telephone banking.
Kunz says banks have suffered for their lack of personal service. But financial
institutions continue to move towards automated service. They supply the technology
and the customers serve themselves.
But Kunz believes that banks and credit unions will always want to provide
some services in person. "People love it," she says.
Some people prefer to do their banking in person. And many businesses use
banking services throughout the day.
"As long as there's cash to count from business, there's always going to
be CSRs -- even though, with online banking, the need to actually go into
a bank has decreased," says John Callahan. He works for a bank in Chicago.
Not All Banks Follow the Trend
But not all financial institutions are moving away from personal service.
For example, TD Bank prides itself on being "America's Most Convenient Bank."
It considers banking a retail business. That means the customer is king.
This bank provides online, ATM, telephone and other convenient services
to serve customers. But it also offers seven-day branch banking with extended
hours. And it encourages customers to come into the branch to do their everyday
banking.
New Responsibilities for CSRs
"In my personal opinion, I do not believe CSRs will ever become completely
obsolete," says Jumani.
When Jumani worked as a CSR, she was regularly trained on new products.
The more products and services a client subscribes to, the more money the
bank can make.
"CSRs are the face of any financial institution, and are the first point
of contact for the majority of the clientele," she says. Clients often ask
CSRs questions about the services available from the bank. CSRs with a strong
knowledge of financial products and services can answer questions efficiently
and accurately.
"Providing accurate information, or at least referring to the correct personnel,
is a major service component of a CSR's job description," says Jumani.
Callahan agrees that the CSR often initiates the first step of the banking
sales process. "It is very important for the CSRs to know their banking products
because then they'll be able to identify certain client needs and then be
able to suggest that the client sit down and meet with a banker," he explains.
Still a Great Entry-Level Opportunity
There are no official educational requirements for a CSR
job. A young person could start the job after high school. It's a great job
for students who want to get their feet wet in finances or learn more about
the banking industry.
There are plenty of opportunities to advance within a financial institution.
The CSR position is an entry-level job in the banking field. Callahan gained
experience as a teller and CSR. From there, he was promoted to a consumer
banker position.
Jumani used the experience she gained as a bank CSR to get a job with a
securities company. She works on the banking team. They handle all the money
going in and out of the company. The responsibilities are very similar to
those she performed as a CSR.
"If customer service, personal interaction, problem resolution and a dynamic
learning environment sound attractive, then a CSRs role is right for you,"
says Jumani.
Links
Commerce WOW Zone
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Customer Service: Commerce Bank
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than ever
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