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Digitization: essential in this new era in banking

The COVID-19 pandemic has completely changed the manner in which companies carry out their activities. In the case of banking institutions, two major challenges are faced; the acceleration of their digitization process and the adapting of their spaces to the new safety guidelines, to protect both the workers and clients from infection.

Because banking services are considered an essential service, even during restrictive periods, banking institutions remained open. For this reason, implementing a prevention system at the physical spaces has proven essential to ensuring the activity remains safe and reliable as well as remaining as normal as possible given the situation.

The acceleration of the digitization process

According to the Impact of COVID-19 on the financial sector report, conducted by Funcas in collaboration with Finnovating, the on-line banking transactions of most citizens has increased during the pandemic.

This has resulted in fewer people visiting banks, thus minimizing the risk of infection, and a more personalized and efficient service provided to clients that really needed to be helped in person, setting a precedent that will surely be maintained when we return to normal.

Less important transactions are now being carried out from applications or ATMs to avoid physical contact or travel, reserving physical visits for those transactions of a greater added value like for example, approving a mortgage. And if possible, by making an appointment.

Additionally, the study reveals that during the pandemic, users opted for using credit cards or digital payment methods as a form of payment over cash. The sum of these factors has positioned Spanish banks as the best digitized banks in the world.

Transformation of the physical spaces

Although on-line transactions continue to grow, branches are keeping their doors open for users that need to physically visit the bank. In this context, banking institutions have had to implement measures aimed at guaranteeing the safety of their workers as well as of any other person that needs to physically enter their premises.

To this aim, technology has become essential for, not only guaranteeing safety, but also improving the customer’s experience. At Beabloo we developed Interaction Care, a technological solution certified as an  Intel® Market Ready Solution, to ensure premises are COVID-19 safe by implementing a body temperature control system, occupancy control and mask detection system that also provides metrics aimed at improving how these spaces are managed. Always respecting people’s privacy, the system does not collect or store personal data.

Zenithal cameras are used to measure and guarantee social distancing is maintained as well as controlling the entry of persons inside physical spaces. Additionally, with the use of thermal cameras, the solution allows measuring body temperature at the entrance to banks for the purpose of preventing the spread of COVID-19.

In fact, existing technology together with intelligent software that collects and processes key data (always respecting privacy), it is possible to develop a system of alerts for social distancing and hygiene measures and turn a space that would otherwise be prone to spreading COVID-19 into a safe space where people can carry out their business as usual.

The use of this type of technology allows protecting clients and workers inside physical spaces and provides performance metrics about the establishment for the purpose of optimizing its areas of interest and ensuring a high level of safety is maintained.