Coconut Software Launches AI-Powered Branch Workforce Management Solution

Coconut Software has launched Branch Workforce Management (bWFM), a new AI-powered solution aimed at assisting banks and credit unions in forecasting demand, optimizing staffing, and enhancing branch performance. The offering is tailored specifically for financial institutions and is integrated into Coconut's core platform.

The bWFM approach allows financial institutions to go beyond basic employee scheduling by aligning staffing based on various factors such as skills, experience, and language. This is aimed at improving service delivery by matching employees more effectively with client needs.

Utilizing AI, the bWFM transforms demand forecasts into staff-ready schedules within a few clicks, enabling branch managers to save up to eight hours per week previously spent on manual scheduling. This time can then be redirected towards coaching employees and improving customer service.

By analyzing appointment, lobby, and walk-in data, the solution provides demand forecasts with an error rate of under 7.5%, significantly better than the industry average of 15–20%. This precision aids banks and credit unions in making informed staffing decisions, thus reducing overtime costs and walk-out rates.

Katherine Regnier, CEO of Coconut Software, highlighted the limitations of traditional workforce planning methods, stating, “For years, branch workforce planning has relied on spreadsheets, intuition, and incomplete data.” With the implementation of bWFM, the goal is to link staffing decisions directly to real-time customer demand, enhancing utilization rates and operational effectiveness.