Fraunhofer Institute for Industrial Engineering IAO
Fraunhofer Institute for Industrial Engineering IAO

Banks & Future

Showcase "Banks & Future"

© Foto: Ludmilla Parsyak, Fraunhofer IAO

”Banks & Future” showcase

A Showcase is a demonstration platform which is used for research work.
© Foto: Ludmilla Parsyak, Fraunhofer IAO

Digital customer identities

As an extension to the traditional customer file, customers can use digital identities to manage their data themselves. Every time users carry out an action, digital IDs are enriched with further information. Customers decide who can access what data – and when. As part of the showcase at Fraunhofer IAO, digital IDs act as central control and design units so as to bring examples of customer-centered banking to life.
© Foto: Ludmilla Parsyak, Fraunhofer IAO

Smart Banking

In the future, people will mainly use mobile or smart devices to access and manage banking services. Users will be able to activate these services in a context-related way and use them to meet the needs at hand. Consequently, banking will become something that customers do more and more in their daily lives rather than only by going to the bank or using online banking.
© Foto: Bernd Müller, Fraunhofer IAO

Banks come to the customer

Banks come to their customers with personalized propositions. They use a range of approaches and communication channels to do this. Customers themselves decide when and how they would like to have personal contact with the bank – whether by video conference at home or via mobile conference while traveling.
© Foto: Bernd Müller, Fraunhofer IAO

Smart Banking

In the future, people will mainly use mobile or smart devices to access and manage banking services. Users will be able to activate these services in a context-related way and use them to meet the needs at hand. Consequently, banking will become something that customers do more and more in their daily lives rather than only by going to the bank or using online banking.
© Foto: Ludmilla Parsyak, Fraunhofer IAO

Individuality and adaptation

Digital identities provide the foundation for a personalized experience of banking in the future. They enable customized offers to be prepared for customers – and, once customers have been identified, it is possible to adapt corresponding physical environments as part of a multisensory approach. This delivers not just a personal and integrated banking service but also a new and personalized customer experience.
© Foto: Ludmilla Parsyak, Fraunhofer IAO

Self-service and personal

New solutions are being developed and tested for the banking self-service sector. For example, simplicity and speed are combined in one use case that allows customers to update their address details directly at a terminal by using the new identity card. Such value-added solutions also offer banks opportunities to use existing infrastructure in new or different ways.
© Foto: Ludmilla Parsyak, Fraunhofer IAO

Secure and always available

New identification and authorization methods allow cash machines or self-service terminals to be used without a card.
© Foto: Ludmilla Parsyak, Fraunhofer IAO

The branch of the future

The branch of the future will be a place to which customers go only for consultations. These will be carried out using modern and interactive solutions for both hardware (tables, rooms, etc.) and software (e.g. multi-touch solutions). Top-quality consultations will take place, with customers playing an active part.
© Foto: Ludmilla Parsyak, Fraunhofer IAO

Bringing together the skills and expertise of the whole bank in one place

Customers have not been satisfied with the expertise of just one consultant for a long time now. Instead they want to bring in one or more experts, depending on the issue. How to integrate these different skills seamlessly into the consultation process with customers is the subject of research in the “Banks & Future” innovation network. Here it doesn't matter whether the consultation takes place physically in the branch or virtually in dispersed locations.
© Foto: Ludmilla Parsyak, Fraunhofer IAO

Consultation and Emotionalization

Instead of presenting just abstract facts and information, the consultation will be emotionally appealing. A part of this is that the bank of the future will no longer restrict itself to standard banking products, but will instead offer customers integrated packages of solutions that match their needs. These packages will consist of individual modules, which customers and their consultant will configure together during the course of the consultation.
© Foto: Ludmilla Parsyak, Fraunhofer IAO

Documentation recording consultations

Various regulatory requirements make it very complex for banks to give and keep records of consultations. As part of the work conducted in the “Banks & Future” innovation forum, new options for providing a record of consultations are being tried and tested. Examples include voice recording, digital signatures, and the use of blockchain technology in the future – these should all open up user-friendly options to ensure the production of an audit-proof record of consultations.
© Foto: Ludmilla Parsyak, Fraunhofer IAO

Added value to deliver more for customers and banks

Customers are not calling for banking products, but rather for bespoke solutions to their concerns and problems. Standard banking products that address only the financial dimension are usually insufficient to meet these demands. That is why one of the key issues for discussion and research in the “Banks & Future” innovation forum is how to develop new business models and innovative value-added services – along with the formation of the necessary value creation networks.

Transformation banks into client-oriented service providers

 Optimized, innovative branch scenarios are being designed in the “Banks & Future” Innovation Forum, with the focus on changes in the way bank and customer interact.

The findings of our research have already been implemented and can be experienced live in the “Banks & Future” showcase. State-of-the art information technology is used in our process lab to support processes between bank advisor and customer, without allowing this technology to dominate, in much the same way as a good 'butler' provides assistance where necessary but is not the center of attraction. The cutting-edge innovative technologies used here include biometry, RFID, self-service dialog or digital posters.