Seeking to leverage big data, mobile and social technologies to impact customers’ banking experience, IBM and Bank of China’s Tianjin Branch have completed a new, flagship “smart branch” location in the northern Chinese port city.
IBM provided industry insight and consulting on the branch project, which will, according to BoC, serve as a template for all future Tianjin branch locations. IBM has been setting itself up to be a larger player in the enterprise space in mobility as well as big data with new partnerships this year to expand its mobile offerings for various verticals via Apple devices, and its analytics with Twitter data.
The BoC smart branch includes a dedicated “customer experience” section with terminals for customers to learn more about services; one will focus on mobile banking, and mobile-equipped customer service agents will be in the area to demonstrate products for multiple customers simultaneously. BoC will collect anonymous data on user behavior in order to shape its offerings.
BoC also is looking to address its overall customer traffic more efficiently through the use of big data to help customers avoid lines. The bank said it will “monitor the flow of customers in surrounding branches, in real time, to proactively divert customers into nearby, unoccupied branches.”
In addition, the bank is offering the ability to purchase services and get more information through a QR code wall at the branch; service QR codes can be shared by social media so people can make recommendations. BoC is also implementing a “remote bank teller” option for uncomplicated, standard transactions in order to handle transaction volume.
Sun Huimin, president assistant of the Tianjin Branch of BoC, said the company plans to “capitalize on digital and other innovative technologies to strengthen all of our customer-facing channels and their ability to deliver clients a personalized experience.”
“Consumers worldwide expect a new level of service whenever they interact with a brand, whether it be a retail store or a bank,” said Rob Lefferts, FSS leader, GBS, for IBM’s greater China group, in a statement. “BoC’s new smart branch applies forward-looking insights gained from big data and analytics as well as social and mobile technologies to quickly respond to changing customer needs, giving BoC a distinct competitive advantage.”
