Tesco Bank faced a challenge in that as an online only bank with no physical presence, they could be easily overlooked by consumers as a credible alternative to the established high street banks.
Furthermore, although customer satisfaction was high with regard to telephone and online services, the personal touch of bricks and mortar branches offered by the traditional banks was significant gap in Tesco Bank's offering.
To address those concerns, exploration and development of tellerless branches was undertaken to improve things on a number of levels: (1) Raise awareness the Tesco Bank in the first instance. (2) Create a customer centred experience that would make banking as easy as possible to all demographics. (3) Create a digitally driven and remotely operated branch that would remove the significant cost outlay of traditionally staffed bank branches.
Included in the 1st phase development was an insight report of 'best in class' examples of bank branches across the globe that integrated technology to improve the customer experience. From that basis, concepts for the tellerless branches situated within Tesco stores were created that would be achievable for Tesco Bank to integrate, develop and cost.
The results aimed to significantly improve the customer experience and perception of Tesco Bank, whilst being at the forefront of digital integration.
