Bluetooth Beacons deployed in financial service branches allow banks to create new types of customer interactions, delivering a more positive, personal experience. 


To imagine this more vividly, let’s follow John and Mary as they undertake a dreaded errand:

John and Mary approach their bank. As they reach within 200 feet of their institution, beacons mounted on the exterior of the building trigger a notification within the bank. An available clerk pulls up their customer profile at the same time that the beacon ‘wakes up’ a banking application in Mary’s phone. The application welcomes John and Mary to the bank and presents a list of services. In all likelihood, the application startles the pair, but they are soon won over by the user-friendly interface. Mary selects ‘Mortgage’ from the list of available services as they approach the queue. During that time, the clerk receives Mary’s selection and has scheduled an appointment with the next available specialist. As John and Mary queue, a message directs them to a lounge area and notifies them of their upcoming meeting with a mortgage specialist. While they sit, John and Mary thumb through the application and remember to pay a recurring bill due to a friendly reminder. Ten minutes later, they are ushered into an office to discuss their situation with a bank officer who is already apprised of their financial history and ready to provide relevant information. As Mary and John proceed to exit the bank at the end of their meeting, the bank application asks if Mary is willing to complete a short customer service survey. A few taps later, the survey is completed and sent off for branch analytics. With that bit of feedback, the bank is able to fine tune their operations.

Well, that turned out less onerous than we imagined.


BLE Banking

John and Mary, a week later, still overjoyed at the service they received.

Let’s break down John and Mary’s experience into the six major benefits of Bluetooth deployments broken down for the banking and financial sector:

1. Proximity Detection and ID Recognition

Beacons mounted on bank walls can detect the presence of customers before they even enter the building. When customers have a banking application on their mobile device, beacons can identify customers and alert clerks. Greeting customers by name and already having their account pulled up will make every client feel like a VIP. By integrating an API with the bank’s CRM, banks will be able to serve clients better by knowing his relationship history with the bank. By only offering services which customers may be interested in, interactions at service desks become more efficient. On the customer end – nearby beacons can trigger in-application actions to remind users of upcoming payments or inform them of special offers. Beacons can be configured to trigger welcome interactions which present customers with a list of available services at their present location. This will take some of the onus off of clerks and will clarify many client questions.


2. Desk and clerk allocation

Each client will be allocated to a specific desk and bank officer based on their relationship history with the bank. A nearby beacon will trigger an in-application message detailing the availability of account managers and requested specialists, where to wait, along with an estimation of wait times.


3. Custom Financial Offers

Armed with data from customer profiles, bank clerks will be able to pitch financial offers in line with a client’s current financial status. Clerks may be offer consolidation loans or second mortgages based on financial straits, or low interest credit cards based on student status. Bank clerks may engage in more targeted up-selling techniques, account optimizations, and dynamic pricing.


4. Automated Banking Services

Mobile banking applications are a major technological leap from ATMs. Through secure banking applications, customers may be prompted to pay monthly invoices or review pending notifications. Mobile apps can provide financial advice regarding managing expenses, saving for retirement, or purchasing a home. Banks can decide on which services can be accessed through mobile, allowing customers to change preferences for financial arrangements, activate cards and services, and accept custom offers.


5. Satisfaction Surveys

Beacons trigger in-application surveys in which customers will be invited to evaluate their experience. By collecting information directly after customer-staff interactions, data is more accurate and customers will be more likely to offer specifics.


6. Branch Analytics

Gather data from surveys coupled with environmental sensor data from beacons will help branches anticipate and understand customer behaviour, flow, and employee allocation techniques. By measuring dwell times during certain types of transactions, banks will be able to identify inefficiencies and streamline processes.


As the most trusted consumer service, banks are the most apt industry to incorporate proximity detection services and mobile payment applications into their customer services. As Bluetooth continues to increase in range and versatility, we look forward to the future of IoT.

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