Video Banking Solutions
The tool you need in your arsenal to increase conversion rates, deepen relationships, and give you competitive advantage.
The banking relationship is changing and the consumer is driving the experience. Video Banking solutions seek to address the customer experience by providing omnichannel touchpoints.
Branchless banks are acquiring customers in mass numbers. Without the cost of physical locations, they can offer better pricing and technology due to unconstrained legacy technology and thinking.
Traditional banks have been centralizing functions such as mortgage, auto loan, wealth management, and credit cards for years. Video banking solutions for financial services companies to not only connect to centralized specialty areas “branch to branch” it allows consumers to connect from home to the right resource, at the right time.
How do traditional brick and mortar banks and financial institutions acquire new customers and retain them? Consumers are all about convenience and technology. The consumer is not comparing their customer experience across banks, they are comparing it across brands.
Video Banking software allows for the highest convenience and engagement while being the lowest cost to implement.
The rise of online and digital-only banks have been keeping financial service executives up at night. Over $25B has been invested over the last four years in Fintech banks. Each day, more and more Gen Z and Millennials are making financial decisions.
While these demographics are mobile native generations, all generations have increased their use of mobile banking. Interactions made using a desktop will decrease by 63% between 2017 and 2022. With mobile banking increasing, the number of physical visits to the branch has decreased across all demographics. While the average number of branch visits today varies by household, it has historically averaged 8 visits per year. By 2022, the average number of visits will shrink to only three per year.
The advancements in video banking software and mobile banking adoption have already led to 9100 branches in Europe closing in 2016. While traditional brick and mortar banks will never 100% go away, the footprint, the number of employees and bank transactions will change.
Implementing video banking solutions for today’s digital customer is a win-win for them and the financial institution. Video banking software allows banks to still get the “face to face” time with the customers or prospects while providing the convenience the consumer is demanding.
Our virtual web branch platform allows you to create branch-like experiences, everywhere, with an average 300% ROI.
AREAS OF OPPORTUNITY
Increase branch reach in acquiring and servicing more customers. Increase wallet share to have more time with customers when they aren’t in branch “rush” mode to talk products and services.
Provide the increased level of virtual hand-holding required for high touch loan products.
Create more touch points, education, and proactive communications.
Provide a higher level of customer experience with a video business banker at your fingertips throughout the changing needs in a business owners journey.
Create memorable face to face virtual interactions to build relationships in a highly competitive market.
COMMUNICATIONS & HIRING
Increase clarity and communication to visualize body language. Hire smarter and faster while reducing cost to hire.