Survival of the FITTEST

FITbanking Philosophy

How Diebold’s new philosophy helps the industry thrive in a time of transformation.

A transformation is taking shape.

The world of currency is evolving at a blink-and-you’ll-miss-it speed. This rapid transformation is driven by the convergence of physical and digital channels, technology advancements and an increase in tech-native consumers. So, how do FIs survive such an onslaught of new challenges and consumer preferences?

It takes a different way of thinking for banks and credit unions to remain relevant and successful amid this whirlwind of change. A new philosophy that ignores preconceived notions and instead focuses on strengthening the relationship between the financial institution (FI) and consumers.

Connecting transactions and relationships.

Until now, FIs have lived with a false dichotomy that transactional banking and relationship banking are distinct, even separate. As we worked to move consumers beyond transactions and into relationship banking, we learned that for consumers — especially tech‐native consumers — transactional interactions don’t supersede relationships. They actually create and nurture them.

Recognizing this reality, a fragmented approach to retail banking channels is no longer a viable option. For the industry to thrive, we must create seamless, consistent and fulfilling consumer experiences.

A FITTING philosophy for the current and future state of the industry.

And with that awareness, the FITbanking™ philosophy was formalized.

The FITbanking approach is all about creating banking experiences to seamlessly FIT with consumer demands and financial institutions’ business objectives.

From a consumer’s perspective, FITbanking infuses their lifestyle, geography, schedule, favorite technologies and preferred payment methods into the delivery of banking experiences. To them, it creates experiences that align with the way they want to interact with their FIs today, and well into the future.

Through the lens of a bank or credit union, our FITbanking philosophy helps optimize security, operational efficiency, compliance and other organizational pursuits so they can turn their focus out of their organizations, to their customers. And make banking personal again.

At its core, our FITbanking philosophy is about a personal, individualized, customized FIT. Services, solutions, processes or strategies nimble enough to FIT the FI’s vision, and experiences flexible enough to FIT consumer aspirations. Regardless of the circumstance.

Forget what you know about channels.

One major aspect that is crucial to the success of the retail banking industry, is the way in which we think about consumer interactions in “channels.” We’ve proliferated the branch, call center and ATM channels as well as evolved to include the online channel and the mobile channel.

But if our consumers don’t think in channels, why should we?

Today’s consumers view their interactions with banks in a way that transcends crosschannel or omnichannel. In fact, “less” actually means more to consumers today. Effortless. Seamless. Tellerless. Bankless. Wireless. Placeless. Cashless. Cardless. Channelless. 

That’s right. Channelless. 

We envision a future in which technology isn’t an end in itself or a constraint to be managed, but rather an invisible but indispensable engine for creating and nurturing greater, stronger, more durable and more lasting connections with consumers. Channels become intimately intertwined, creating a powerful and profitable relationship between FIs and their customers.

This will require a shift in focus that is anything but subtle. A shift that enables FIs to build a new kind of relationship with consumers, one that FITs the sum of all small — and large — transactions. This approach maintains an emphasis on technology, but leverages it for Fully Integrated and Transformative (FIT)banking experiences. An approach Diebold can help FIs achieve.

Find your FIT.

There is huge opportunity to not merely survive in today’s retail banking environment, but to leverage technology for your business to thrive. Whether its automation technology software or branch transformation and banking transformation advisory services , we have the right solutions to propel your business forward.

Let’s find the right answer to FIT your business objectives and consumer needs. It all starts at