Envisioning the Bank of the Future

With every passing year, technology takes on new roles and more importance in our daily lives. From self-driving cars to instant drone delivery to lifesaving medical devices, technological innovation is moving our industries and economies into the future—and banking is no exception. Jack Kuntz, CEO and President of American Savings Bank, has a vision for the future of the banking industry, and he’s ready to make it happen.

In the past decade, the worlds of finance and banking have experienced dramatic shifts due to developing technologies and people’s interactions with them. It wasn’t long ago that a customer’s banking experience involved regularly visiting their bank’s branch office to make deposits and transactions. Standing in a teller line was normal, and cash was still king. Today, with the proliferation of cell phones and mobile-friendly websites, banking has catapulted its way into a completely different era. From mobile deposits to online bill payment, customers are becoming more independent and in control of their funds, and they can virtually monitor and make changes to their accounts from anywhere in the world. Developments like Apple Pay and Bitcoin have made it possible to buy products and services with the touch of a button.

The sum of all these changes might lead to a conclusion that banking as we know it is dying. But Kuntz, a leader with decades of experience in the banking industry, knows that the future of banking is just beginning.
The bank of the future, and the future that Kuntz is channeling at American Savings Bank, is all about an easy, exceptional customer experience. At the center of Kuntz’s vision for the future is one thing: personal service. Other banking experts, like Brett King, author of the books Bank 1.0, Bank 2.0, and Bank 3.0, can list hundreds and thousands of ways that technology will advance payments systems, banking networks, and how we carry money. But to Kuntz, the critical factor is about the customer experience, and the importance of relationships and trust in banking will never go away.

The challenge that banks have now is learning how to provide the personal touchpoints in the banking experience without requiring in-person interactions to experience them. Smart technologies, like the interactive teller machine (ITM), are being introduced at banks across the country, including the first one here in Cincinnati at Watch Hill Bank. With ITMs, customers can work with a virtual teller to make more sophisticated banking requests than what is currently possible with today’s ATMs. Kuntz sees banks taking similar steps to make it even easier for customers to get exactly what they want, exactly where and when they want it. For some people, that might mean creating a seamless, simple way to apply and get approved for an instant car loan from the comfort of their couch. For others, it means having a warm, friendly welcome at a local branch office where technology makes it possible for the staff to instantly know a customer’s name, her needs, and how they can best serve her that day.

In Kuntz’s view, the future of banking is up for the taking, and American Savings Bank is ready to take hold. To learn more about how American Savings Bank can help you move your banking needs into the future, visit their locations in Montgomery or Madeira, go online to www.bankwithasb.com or feel free to call Jack on his personal cell phone at 513-543-9788.

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