Financial Resources FCU “Micro” Branch of the Future
Much is written about the “Branch of Future”, but a version of it may be in operation, today in New Jersey. LEVEL5 is proud to announce Financial Resources FCU’s new micro branch in Jersey City, NJ. This start-of-the-art branch focuses on automation and brand to serve its consumers and community.
The 1,100-square foot facility is located in the Newport Tower on Washington Boulevard near the subway. The branch is powered by NCR’s Interactive Teller technology, which allows the Credit Union to operate the facility 24-hours a day. NCR’s Interactive Teller machines (ITMs) provide the normal operation of an ATM, but with a video option that allows consumers to interact with a live representative.
“Advancements in retail technology, like ITMs, are allowing the community-based financial institution (FI) to compete, at scale with much larger FIs,” said Mike Colvin, Executive Vice President of LEVEL5. “Financial Resources has taken the next leap in consumer experience with this new branch allowing convenience, service and brand in a much smaller footprint.”
The branch’s two ITMs are connected via video back to the Credit Union’s call center. This allows the physical branch to operate with fewer staff, while consumers, using the ITMs, interact with live Financial Resources’ member reps in the call center. The in-branch staff, no longer encumbered by teller fixtures and balancing cash, are focused on service and sales to meet the needs of its consumers. In summary, routine transactions are handled more efficiently through technology, allowing for more complex interactions with branch staff.
Frank Almeida, COO of Financial Resources added, “Though routine banking needs are now being automated, we have found the human component to still be a primary need of our members.” Mr. Almeida continued, “The value of the branch and our use of ITMs is not to replace the importance of the human interaction, but to enhance convenience outside normal hours, and have the ability to provide depth for all their financial needs.”
The branch’s focus on convenience is also evidenced by the use of two-way video in the conference room allowing consumer-access to Credit Union specialist at other locations. Furthermore, the Financial Resource FCU brand is on full display throughout the space inclusive of video displays to educate consumers on how the Credit Union can integrate with their daily lives.
Mr. Almeida offered, “We chose LEVEL5 for our newest branch because they understand consumer experience, new branch technologies, and are experts in bringing together all of the components in the design-build of financial facilities.”