TD Bank taps virtual reality to help tellers learn to navigate tense scenarios

financialpost.com:

You’re a bank teller standing behind the counter at a local branch. You can tell it’s Toronto-Dominion Bank from the green branding in your surroundings. A customer, who you can already tell is stressed, walks up to your counter to cash a cheque, but the cheque has been put on hold. The customer raises their voice: they’re in a rush and have been waiting in line.

It’s the kind of tense scenario that plays out at banks and other customer-facing jobs all the time, except this time the customer and environment are not real. What you’re seeing is fed through a virtual reality headset, part of an immersive simulation designed to mimic possible real-world scenarios.

During the simulation, you have the chance to respond to a customer with the help of tips and steps shown. The interaction, including your voice and facial expressions, are recorded and can be played back.

The simulations are one tool TD Bank is hoping will change the way its new and existing employees are trained to deal with customers in challenging scenarios.

TD product manager Kerry Narduzzi said the use of virtual reality, as opposed to more commonly used mediums such as printed handouts or training videos or digital modules on a computer screen, gives employees a more hands-on experience.

The technology provides a “free to fail” environment and can generate specific situations, such as the check-hold scenario, said Narduzzi, who created the program.

“It’s hard to learn how to handle these interactions without experience and now, our branch employees can build it up and make mistakes and learn from them in VR so they’re ready when they encounter the real thing,” she said.

Ten branches in Etobicoke, Ont., and 10 branches in Alberta are currently participating