For Banks, Now is the Time to Shine a Light on Value

The banking industry had a challenging 2022, and with rising interest rates and pressure for more personalized digital solutions continuing to mount for financial institutions, there’s never been a more crucial time for banks to focus on how they help customers achieve their goals.

While banks’ core products and services should always be a chief focus, another area should hold a fair amount of attention in 2023: bank facilities maintenance. While some institutions have been phasing out physical locations (or at least exploring that possibility), it remains that consumers still prefer to navigate certain transactions or financial processes face-to-face.

The last thing a banking or other financial institution needs when it’s trying to bring current and new customers into branches is to deprioritize bank facilities maintenance activities. Examples of these efforts include maintaining HVAC systems, managing plumbing systems, doing upkeep on and replacing fire and life safety systems, and more. But one area stands above all others due to the fact that it shapes what customers (and employees) see and feel every moment that they’re inside a financial branch: lighting.

As financial institutions are often tenants in their facilities, or come to occupy buildings purchased from other institutions, it stands that some lighting elements may be outdated. In these instances, turnkey LED retrofits are crucial to a proper bank facilities maintenance strategy. Here, we’ll touch on the value that turnkey LED retrofits provide for financial institutions that are looking to continually refine and improve the way they engage customers and manage their facilities (and the related costs).

The Advantages of LED Retrofits in Bank Facilities Maintenance

  1. They ensure a consistently positive experience — Underperforming or outdated lighting systems are proven to detract from productivity and impact customer perceptions and buying habits. The last thing financial institutions need is to have customers straining and fatiguing while they’re inside trying to do business.
  2. They ensure a high-touch branch appearance — The strength of a financial brand is rooted in more than its legacy of serving customers and providing ideal financial products and services. It’s also deeply connected to the appearance of their facilities in the community. Customers will immediately notice flickering, underperforming, and damaged lighting systems and could feel unsafe. They might wonder why the institution hasn’t already addressed the situation, which opens the door to other negative perceptions. With LED retrofits as part of a bank facilities maintenance program, institutions proactively ensure their lighting is using the latest — and most reliable — lighting components. Strong lighting leads to a strong appearance and a stronger brand image in customers’ minds.
  3. They maximize energy savings — Another key aspect is how lighting impacts the financial performance of each branch. Energy is a leading cost for financial institutions when it comes to their facilities, and with brands facing more financial pressure due to the economy and shifting consumer preferences, it’s important to find savings wherever possible. LED retrofits ensure savings not only in reduced energy usage but also in lower maintenance costs, as parts don’t have to be replaced as often (if ever). In some cases, key components are no longer needed — further reducing the costs associated with bank facilities maintenance.

How to maximize your lighting investment: Learn what to consider to get the most out of your LED retrofit.

With the Right Partner, the Future is Brighter Than Ever

While any number of companies can provide LED retrofits, only a nationwide facility asset management partner can deliver the long-term benefits and savings that financial institutions need. Rather than requiring individual financial branches to handle their own LED retrofits and facilities maintenance activities, working with a nationwide partner yields even better dividends:

  1. Reduced workload for facility managers across the organizational footprint
  2. No need to spend time researching contractors and service providers
  3. Consistent scopes of work (and pricing) across all locations
  4. Can be planned as a CapEx program rather than one-off OpEx outlays
  5. Streamlines workflow and communication by working with one partner
  6. All assets and program documentation are centralized in a single system
  7. Peace of mind knowing only proven technicians are working on your program
  8. Can be executed as retrofit-only or as a preventive maintenance program
  9. Confidence in working with one tenured team vs. multiple contacts
  10. Explore real-world examples of successful LED retrofits

CLS Facility Services has been partnering with financial institutions nationwide for decades, helping them with everything from money-saving LED retrofit projects to highly customized and proactive preventive maintenance programs. Whatever your facility asset management needs may be, our team offers the expertise, consolidation, and service focus that your brand needs to shine in the year ahead.

Connect with us today to learn more about our capabilities, or book a meeting at a time that works best for you.