Video analytics helps banks improve their speed of service and increase the uptake of special promotions.
Banks, like other businesses, set targets for customer service. For example, queuing for no longer than four minutes. A smart video people counting system will tell you:
- The number of people currently in a queue
- The queuing time of the last person to leave the queue
- The average queuing time
- The average queue length
- How many people left the queue before reaching the front
- The number of counters open
- How often more than three (for instance) people were in the queue
- Daily figures, for example, 95% of people queued for less than four minutes
These figures help you compare performance of branches, and take measures to fix underperforming locations. Analyse, act, measure, repeat – improving the performance across the branch network.
Banks also monitor dwell time – how long a customer spent at the cashier (teller) counter. In retail the longer a customer spends in a particular area the more likely they are to buy something. Banking is different. Shorter times indicate efficient service.
The video technology is helping banks compare the use of self-service cashpoint machines with the manned counters. Are people spending a long time at the cash machines or ignoring them in favour of a human? Analysis of the data highlights any problems.
Video counting analytics lets banks evaluate and improve their services across a range of operations.