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Why retail banks are adopting Time-of-Flight people counting for improved customer experience

Retail banking has undergone many changes in recent years with technology advances as part of the digital transformation process. One area that has seen significant change is customer experience.
Time Of Flight People Counting In Retail Banks 700 X 500 Px

In an effort to improve customer service and satisfaction, retail banks are turning to solutions like Time-of-Flight people counting technology. Retail banks can use Time-of-Flight people counting to track customer flow, optimize staff deployment, and reduce wait times. Read more

What is Time-of-Flight people counting technology?

With Time-of-Flight (ToF) technology, infrared sensors measure the time it takes for a light signal to bounce off an object and return to the sensor. This information is used to determine the distance and movement of individuals in a given space. The data is then processed and analyzed to provide useful insights into user behavior, including foot traffic patterns, peak hours, and room or space occupancy levels.

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Advantages of Time-of-Flight people counting in retail banking

Improve customer experience
Retail banks are adopting Time-of-Flight people counting technology to improve customer experience. Accurate people counting data can be used to better plan staffing levels and manage queues, for shorter wait times and improved customer satisfaction. Retail banks can also use the data to improve layout and design of their branches, allowing for more effective use of space and better customer flow.

Reduce costs
People counting data can also be used to reduce costs for retail banks. By optimizing staffing levels, retail banks can reduce personnel costs, resulting in significant savings. Additionally, by using the data to optimize branch layouts and designs, banks can reduce operational costs by improving efficiency and streamlining processes. In addition, heating, ventilation, and air conditioning (HVAC) systems and lighting can be set to correspond to actual visitor traffic, for energy efficiencies and cost savings

Data privacy by design
Privacy is a top concern for retail banks when it comes to people counting technology. Unlike some traditional methods of people counting, such as CCTV or facial recognition, Time-of-Flight technology does not rely on cameras or other sensors that may capture identifiable information.

Time-of-Flight people counters are privacy-friendly. They don’t capture or record any personal data, images or videos. Instead, the sensors simply detect presence and movements within a defined area and provide this as a data count. This means that retail banks can comply with privacy regulations such as the General Data Protection Regulation (GDPR) and ensure customer data and privacy is fully protected.

Reliability and accuracy
Accuracy and reliability are crucial in people counting technology when it comes to the banking sector, and Time-of-Flight technology is highly accurate. The technology is less sensitive to low-light conditions, ambient noise, and interference, making it suitable for use in a wide range of environments. The data gathered is accurate to 98% or higher, making it one of the most reliable people counting technologies on the market.

Terabee People Counting In Staff Canteens And In House Restaurants
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People counter solutions from Terabee

Terabee, who manufacture their flagship people counting sensors in the EU,  offer the People Counting L-XL LoRa device which uses LoRaWAN, eliminating the need to install Ethernet cables or connect to the main IT system.

This makes it an ideal solution for historic buildings, as the LoRa-enabled solution avoids the need to retrofit Ethernet cabling, which can be both expensive and time-consuming.

With its ability to aggregate data taken from up to five separate sensors, the People Counting L-XL device offers easy installation and configuration in a retail banking environment. It is a highly accurate solution to gather data on people flow at large doors, entrances and indoor gates.

Its smaller sibling, the People Counting M device is suitable for standard doors and narrow corridors, such as in meeting rooms and waiting areas.

Retail banks are embracing technology to improve customer experience, reduce costs, and comply with privacy regulations. Terabee Time-of-Flight people counting technology offers a solution that is accurate, reliable, and privacy-friendly, making it an ideal solution for retail banks looking to optimize their branches and improve customer satisfaction.

If you would like to learn how to deploy people counting solutions in your banking facility, contact a member of the Terabee team.

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