6 signs of a new age of consumer banking
Universal bankers do it all
As transactions move out of branches, tellers must become less transaction-oriented and more focused on sales of bank products and services. Even their job titles have changed from teller to personal banker, and now, universal banker. This new position describes branch employees who not only process transactions but also pitch products and services to customers.
"The universal banker is doing more selling and cross-selling and utilizing technology to do that. ... You might have come in (to the branch) to visit your safe deposit box, but the person who swiped your debit card is going to see that your home equity (line of credit) is about to expire, and they're going to perhaps try to upsell or cross-sell you into a new one," Mathes says.
How much technology takes over transactions has yet to be determined. Mathes says banks can't invest in technology for technology's sake, but rather need to figure out how much technology makes sense and where, and where not, to utilize it.