Bank of China (BOC) Tianjin Branch and IBM (NYSE: IBM) today announced the successful completion of the bank's first smart branch.
The new flagship location aims to provide an outstanding customer experience through the use of big data and analytics, mobile and social business tools. This flagship branch will serve as the model for all future Tianjin Branch of BOC locations.
As one of the leaders in China's banking sector, BOC looks to keep pace with the changing customer and industry requirements driven by mobile and social technologies. BOC is focused on delivering transformational services that tap big data and innovative channels to create new, more personalized customer experiences. A long-term partner of BOC, IBM provided deep industry insight and consulting expertise to help create BOC's new smart branch.
"The completion of our flagship smart branch further illustrates BOC's dedication to continuous transformation to best meet the needs of our customers, and this is just the beginning," said Sun Huimin, president assistant of Tianjin Branch of BOC. "Looking ahead, we plan 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."
"With IBM's help, Bank of China is setting a new standard for the Chinese banking industry and the client experiences it delivers," said Ron Lefferts, FSS leader, GBS, IBM Greater China Group. "Consumers worldwide expect a new level of service whenever they interact with a brand, whether it be a retail store or a bank. 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."
The new Smart Branch incorporates the following innovative technologies and approaches to provide customers with the best possible experience:
Dedicated Customer Experience Section: The branch features a sales area where customers can freely experience the bank's services and products through various terminals, including one for mobile banking. In this area, sales representatives are available and equipped with mobile devices to demonstrate products to multiple customers simultaneously.
Intelligent Process Management: The BOC will monitor the flow of customers in surrounding branches, in real time, to proactively divert customers into nearby, unoccupied branches.
Track and Analyze Integrated Customer Data: BOC will capture anonymous user behavior from all interactive media in the branch and analyze it for insight. Better understanding customer behavior will help the bank make changes that respond to customer preferences.
VTM Remote Bank Teller: BOC customers can carry out real-time communications with a remote bank teller for simple, standard transactions. This allows BOC to complete a greater volume of financial transactions, significantly improving efficiency for both the bank and its customers.
Creating a Seamless Experience On and Offline: Customers can purchase services or get additional information through an interactive QR code wall at the branch. Customers can also share service QR codes with friends on social networks to make digital recommendations.
IBM has global expertise working with banking and financial institutions to build a strong technology backbone that helps them become more customer centric, resulting in increased revenue and business performance in a competitive marketplace.