Cisco and Nationwide launch remote mortgage service

Cisco has teamed up with UK building society Nationwide to launched a new high tech mortgage service that will be delivered remotely to branches using video technology.

The mortgage offering will take advantage of the Cisco Remote Expert tool that allows customers to “meet” with mortgage consultants over a high definition video link that can provide the same service that is available in branch.

“The trials have gone very well and we’ve found customer feedback overwhelmingly positive. We interviewed customers from all walks of life, young and old, and 93 per cent rated the service as good to excellent as a face-to-face replacement. Given our excellent reputation for customer service it’s vitally important that the way we use technology adds to our service rather than detracts,” said Graeme Hughes, Nationwide’s group director for distribution.

Over 60 branches will have access to the new service that is constructed using Cisco TelePresence and collaboration technology, which is centrally based at Nationwide’s Contact Centre in Northampton.

The bank is the first in Europe, the Middle East and Africa to utilise the technology in this particular way with Nationwide customers able to benefit from the service by the end of Spring 2014.

“Cisco is all about connecting the unconnected. In today’s device-rich world, consumers are becoming more demanding of the banking industry than ever before. Customers expect to be able to access financial experts whenever and wherever they are, and via multiple channels. With Remote Expert, Cisco is helping Nationwide deliver a seamless banking experience and get even closer to its customers,” said Phil Smith CEO of Cisco UK.

The growing influence that video is playing in every day life was laid bare by Cisco’s 2013 Visual Networking Index Forecast that predicted almost two billion Internet video users will be generating three trillion Internet video minutes per month by 2017.