Efma, a global non-profit organization established in 1971 by banks and insurance companies to foster innovation and drive transformation, and Vidyo, a developer of video collaboration solutions, released a new report that shows there is strong interest in leveraging video among financial services institutions.
According to the report, 10% of banks have already deployed a video banking service, 50% plan to launch service within 12 months, and 80% plan to launch service down the road.
The benefits of using video in banking are obvious – it leads to better client service and higher satisfaction. In fact, 73% of banks who have deployed video banking capabilities experienced an increase in satisfaction, while 93% of banking professionals believe it will have a positive impact on client satisfaction.
As far as which areas are most suitable for video, 66% of banks believe private banking/wealth management should be a priority, followed by mortgages and loans, savings accounts/investments, and new customer meetings. 76% of banks are interested in deploying video across multiple or all segments.
With the use of digital technology, especially mobile, on the rise among consumers, video could play a significant role in the transformation that organizations must take in order to meet the expectations of today’s clients. Whether it’s account management in banking or claims processing in insurance, video can help optimize your business and increase loyalty.
Companies, such as Barclays Bank in the U.K. and IndusInd Bank in India, are already reaping the benefits of video. Will you be joining them?
