Month: November 2021

There is no question about the impact the recent global pandemic has had on the world. Not since 1918 has something so widespread and encompassing transformed the way we all live, work — and by default, bank.

Once generally accepted as the rare exception, remote work and teleconferencing have now become commonplace. Services that most would have previously considered too challenging to provide virtually, quickly shifted and adapted out of necessity. Customers accepted this shift, too, realizing that they had to engage in creative, new ways despite the obvious sacrifices.

The financial industry was no different. Most banking customers soon discovered that many digital and virtual tools could also work well for them, as they worked and spent more time at home. Primarily utilized in other industries, digital capabilities like video conferencing helped bankers remain a familiar face and a beacon for their customers in an uncertain world.

As Pinnacle Bank’s branches closed to help reduce the spread and risk of coronavirus infection, we promoted and urged our customers to access our virtual and online options. From direct deposit to bill pay, online banking to mobile banking, or simply just downloading our Pinnacle Bank app, customers found these viable and productive options to handle their financial affairs while in quarantine.

We reinforced other customer service touchpoints through enhanced and responsive email and, of course, provided actual human beings with whom to speak by calling 877.759.7939.

As our customers began using and learning about many of these alternative banking tools, they viewed them less as a temporary fix and more as a permanent and vital reality going forward. To help us fulfill our mission in helping our customers and our customers’ businesses with their financial needs, we promise to continue updating and enhancing these tools to meet you where you want to bank, whether in a branch, on the go, or online.

A locally owned community bank since 1934, we’ve certainly seen a few major events during our existence. However, it’s been nothing quite the magnitude of this global pandemic. If there’s one thing we’ve learned, it’s to keep meeting you exactly where you are.

Find out More About Our Digital Offerings.
We understand that navigating some of the finer details of our online and mobile services can be challenging.  If you need assistance finding ways to get the customer service you deserve, we can help you. Feel free to email us at customerservice@pinnaclebank.com or call us at 877.759.7939.

These days, it’s rare to find someone who keeps actual paper currency in their pocket – let alone coins. Given the proliferation of personal technology, most likely the only thing we do carry anymore is a smartphone. Those with smartphones contain financial apps that help us manage our money, make investment moves and pay for goods and services, all with the tap of a button.

The global pandemic brought about by COVID-19 accelerated the rise of many touchless — and thus cashless — payment options. While cash still plays a vital role in the economy, our banking app gives customers the flexibility and convenience to manage finances whenever and wherever they want. (Download it here for iOS or here for Android.)

When the pandemic gripped America, to avoid contamination from the virus, many merchants and vendors avoided cash as well.  They made immediate changes to their point-of-sale payment systems, regardless of the plans that had been made to roll out those same changes over the next three to five years. Many began offering more touchless payment options, enhancing the overall online experience and streamlining phone payments. Suddenly, in mere months — not years — entire payment processing systems were overhauled, hardware installed, software updated and people trained to operate them.

To further avoid cash transactions and person-to-person interactions, some merchants began requesting that patrons use payment cards. Some outright declared they would accept no cash payments whatsoever. Unmanned secure cash kiosks that can accept paper currency and avoid the risk of contamination started popping up as well. On the other side, many of the major tech companies like Apple®, Square®, Google®, and PayPal® were also fast-tracking the distribution and optimization of their cashless payment offerings.

For many financial institutions, keeping up with the increased demand for digital tools was also challenging. Most had to invest in optimizing online banking and banking apps to some degree. Standard checking account features like direct deposit, bill pay, and peer-to-peer sharing apps like Zelle® (all available with Pinnacle Bank) were both promoted and utilized much more by bank customers. In general, the limitations caused by branch closures created more online transactions and moved customers away from cash.

The institutional changes affecting payment transactions have mostly remained in place, even as the world recovers and returns to post-COVID openings. Seemingly cash is no longer the king it once was.

To find out more information about what Pinnacle Bank is doing to make banking safer and more touchless, email us at customerservice@pinnaclebank.com or call to speak with someone at 877.759.7939.

Despite the popularity of our mobile and online banking, many of our customers prefer to handle financial business at our branch locations.

While there are several reasons that support this finding, it’s interesting to note that the draw to a physical location can most notably be attributed to the friendly and talented people who work inside them every day. Ask any Pinnacle Bank branch manager what differentiates Pinnacle Bank from other financial institutions and you’ll hear, “Our associates.”

Even before COVID-19 affected the world and left its impact across the financial industry, we recognized how technology and other trends reduced the need for trips to the branch. In fact, some studies suggest that as much as 50% of in-branch transitions had declined due to alternative channels and payment options. The trends were clear.

As a result of all of these changes, Pinnacle Bank realized that the role of the branches must change and that we must focus on helping existing customers and meeting new customers face-to-face. At the end of the day, branches remain the most visible representation of our institution and what makes it unique. Our branches still matter and are at the heart of successfully serving you. After all, the overwhelming majority of account openings at banks and credit unions happen at branches.

Investing in technology and branch transformation will always be important to us, but the proximity to our branches remains the top criterion for meeting your banking needs.

The Pinnacle Bank branch is a true manifestation of our brand. It’s a fixed, long-term investment in the community it serves. We thoroughly research the location of each current and future branch. This upfront work helps support our broader, more cohesive strategy to expand our network and brand across Georgia.

Bank Where You Live
Regardless of where financial technology takes us, our customers will always want to meet face to face about their money. Whether you’re opening a new account, need cash, need to speak to someone about a serious matter, or have a significant life event coming up, we’ll be there – at the branch.

To find out the closest location to you, please call us at 877.759.7939, email us at customerservice@PinnacleBank.com or just enter your address online at locations.