Beehive for retail banking
Reduced costs. Greater productivity. Better customer service.
Today, workforce teams typically use average, assumed and generalised metrics to forecast transaction numbers and allocate a workload of hours to staff.
This is a transaction centric method of scheduling and it's seriously flawed. Beehive turns this approach on its head.
Customer service centric branch optimisation
Beehive allows retail banks to harness advances in machine learning and simulation to provide powerful, continuous, low-cost metrics: unlocking opportunities to put latent capacity to work through evidence-based schedule changes and optimizing physical branch design.
Digital transformation is changing the way people bank, increasing the need for digital engagement while staff utilization in the branch is in decline. But with the physical branch providing an essential point of difference to online bank challengers, how can resources be allocated cost effectively while maintaining this competitive advantage?
Baseline metrics
Get the real picture
Beehive begins by accurately gathering data on what's really happening in-branch through novel metrics surfacing customer service levels, staff utilization and more. No more reliance on assumptions and generalised time-and-motion studies data.
Beehive goes so much deeper than has ever been possible, collecting metrics such as 'no key touch' interactions - currently invisible to HQ.
Optimize
Schedule for customer service
Looking for 80% of customer serviced in under 5 minutes? Beehive will create a schedule to meet that target.
For the first time, retail banks can now accurately use a customer service centric approach to scheduling.
Beehive takes real-world branch data and applies operational science proved over decades to deliver the best forecast metrics required for scheduling
Now you can implement service counter schedules that deliver precisely on Target Service Level (TSL).
Under and over staffing at a glance
Use Beehive's TSL-based schedules to see how existing branch schedules are currently performing. As Beehive builds a baseline service level understanding in its first few months, cost implications of alternate TSLs can be fully evaluated.
In branches that are already running at minimal staff levels, changes in TSL can generate more latent capacity to redeploy to remote channels, improving remote channel response times and providing better control of remote channel costs...
Redeploy with confidence
Maximize use of latent capacity
Simply using idle time to support call centre and digital channels seems common sense, but it's far from ideal. If customers need to wait while staff rush to hang up the phone, everyone's experience suffers.
Beehive provides remote channel support schedules that enable branch managers to make use of down-time at the right time - redeploying latent capacity when it makes the most sense.
Iterate and refine
Measure. Adjust. Improve.
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Beehive schedules and scheduling metrics provide confidence, because Beehive continuously measures actual service levels against target levels.
Where TSL is not met, Beehive provides a set of dashboards for regional and branch managers that enable easy identification of issues and the details needed to diagnose what's happening on the ground - such as schedule adherence and staff responses to sudden influxes in customer arrivals.
It's a whole new visibility that allows for rapid resolution of issues and a lift in NPS and customer survey results.
Case studies
Uncovered 4 to 8 hours per branch per day of overstaffing
Is enacting transformation to distribute outgoing calls, emails and secure messages to branch staff
Uncovered utilisation of customer touch points was significantly lower than expected and there was an over allocation of some types of spaces in the branches
Confidently design branch refurbishments to align with customer demand
Analysing Target Service Level (TSL) of a regional network of 106 branches:
- 20% of branches operating at or below -20% deviation from TSL
- 50% of branches operating above TSL+10%
- Only 30% of branches were within ±10% of TSL
Made changes to scheduling model and allocation of staff at branches
We met service levels and reduced weekly schedules by six hundred hours across the branch network"
Deliver a better retail banking customer experience
Balance physical and digital channel staff capacity
Cut property capital investment and operating costs
Beehive applies machine learning and advanced analytics to physical world activity data
Our highly secure edge deployment platform allows remote management across hundreds of sites - solving multiple issues with no additional hardware installs.
Rocketboots core technology
Mass deployed, remotely managed, highly secure edge platform with discrete cameras and sensors collects rich data.
Beehive machine learning & simulation
Continuous, up-to-date monitoring and analysis uses advanced AI to rapidly identify cost and time saving opportunities.
Network workload balancing
Balance workload across physical and digital channels, putting latent capacity to use and driving down customer response times.
Branch efficiency
Automate and simplify scheduling & rostering. Accurately balance costs & customer service through evidence-based changes.
Property and experience design
Discover real physical space requirements and optimize floor space usage, improving the customer experience and reducing capital investment.
Improve NPS
Uncover customer service risks by region, branch, day or hour and slash digital channel response times through reallocation of resources.
Maximise ROI
Reduce property and workforce costs, redirecting savings to invest in new revenue opportunities.
RocketBoots core technology
Mass deployed, remotely managed, highly secure edge platform with discrete cameras and sensors collects rich data.
Beehive machine learning & simulation
Continuous, up-to-date monitoring and analysis uses advanced AI to rapidly identify cost and time saving opportunities.
Network workload balancing
Balance workload across physical and digital channels, putting latent capacity to use and driving down customer response times.
Branch efficiency
Automate and simplify scheduling & rostering. Accurately balance costs & customer service through evidence-based changes.
Property and experience design
Discover real physical space requirements and optimize floor space usage, improving the customer experience and reducing capital investment.
Improve NPS
Uncover customer service risks by region, branch, day or hour and slash digital channel response times through reallocation of resources.
Maximise ROI
Reduce property and workforce costs, redirecting savings to invest in new revenue opportunities.
