Four in five banks considering video banking services

A high quality mobile video service would significantly improve banking services, a video collaboration firm says. A new research report, done by not-for-profit association of 3,300 retail financial services companies Efma, and video collaboration firm Vidyo, says almost 80 per cent of all banks are planning to offer video-enabled banking services.

Almost three quarters (70 per cent) of all banks have made video banking via mobile and desktop a higher priority over in-branch or ATM availability. Just below two thirds (60 per cent) of banks believe video banking would fit perfectly with private banking, wealth management, mortgage and loan services, and click-to-call on mobile and web, call scheduling, call recording and call escalation are the most important video banking services features.

"Forty-two percent of financial services companies participating in the Nemertes Research Contact Center and Customer Engagement 2016 Benchmark are using or evaluating video conferencing to interact with customers as part of their omni-channel customer engagement strategy," says Irwin Lazar, Vice President and Service Director.

"Adopters are leveraging video as part of their digital transformation strategy to engage with high value customers, build brand differentiation, and to deliver enhanced services via the web and at branch locations."

According to the report, a quarter of respodents are testing a video banking service, and almost a quarter (24 per cent) are planning to do so within the next 12 months. With another 30 per cent 'thinking about it', the report suggests 80 per cent of banks will be offering video banking services at some point in the near future.

Image source: Shutterstock/Oleksiy Mark