Development Trends of Smart Bank Branches - Huawei Developers

The next generation of smart bank branches will be scenario-based, lightweight, and mobile. Huawei’s “AI + 5G + cloud” platform will make more high-quality bank branch applications a reality, providing strong support for the construction of smart bank branches.
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Development Trends of Smart Bank Branches
With the development of the Internet and Financial Technologies (FinTech), Internet finance, mobile banking services, and self-service have become increasingly popular. Indeed, most banking services can now be processed on mobile devices. Given this development, traditional bank branches are seeing a fall in customer traffic, with their customer acquisition ability similarly declining. Meanwhile, with the increasing availability of the Internet and smartphones making access ubiquitous, more personalized mobile financial services — offering a superior user experience — are emerging.
Though it may be tempting to conclude that this will lead to bank branches becoming obsolete, that is not the case. Instead, the development of new technologies — such as Artificial Intelligence (AI) and 5G — will empower bank outlets by allowing them to become intelligent. Bank branches will therefore still play an important role in the intelligent era, but they will be assigned new functions and have different objectives.
Despite the rapid development of mobile services, e-channels, and self-service, banking branches remain integral in high-value fields, from opening accounts to wealth management and consultancy, and private banking. Indeed, in these scenarios, customers typically prefer face-to-face communication.
Furthermore, branches remain particularly important for brand promotion, as well as delivering an optimal service experience. Only branches can provide an all-around customer experience, improving customer satisfaction and loyalty. Indeed, bank branches can connect online and offline interaction activities and promote online and offline service development.
Next-generation smart bank branches will involve multiple intelligent, self-service, and remote video devices to provide promotion and training services — improving the customer experience yet reducing labor costs for banks.
Bank branches are evolving to become social and experience centers that are scenario-based. Going even further, they are integrating with other industries as trusted intermediary platforms that provide financial services.
These smart bank branches will also be lightweight. The limited physical space they will take up will be used effectively, and Operations and Maintenance (O&M) will be highly efficient. With this convergence of online and offline functions, a bank’s ability to gain new customers will surely improve.
A final, but important, a key feature of smart branches will be mobility. 5G wireless connections will be used to provide stable and massive data services, achieving widespread banking services coverage.
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Artificial Intelligence and 5G could be very useful in finance.