We are looking forward to an exciting 2014 where many are predicting this is the year of the Internet of Everything. We foresee this trend affecting the banking industry as well.
As most consumers get connected using their latest version of a smartphone, mobile tablet, or gaming system, these technologies are changing how consumers interact in every aspect of their lives. For example, consumers are getting more accustomed to instant, intimate video conversations with friends and family from their homes, so the next logical step is to add these features outside the home.
Many banks are looking into using video conversations to engage more effectively with customers. UMB Bank, a retail bank based in Kansas City, has transformed how they interact with customers by using Cisco’s video conferencing solution and Syngrafii’s LongPen Solution that resulted in 500 transactions conducted via video with a virtual banker…saving nearly 150 hours for bank personnel.
These time savings grew wallet-share by enabling UMB to meet with and call an additional 1,000 customers and helped the branches increase revenue by nearly 50 percent.
Viju worked with UMB Bank to design and implement the solution and train bank staff. With one touch, the bank associate instantly appears to the often-surprised customer. Should a transaction require a signature, UMB uses Syngrafii’s LongPen remote robotic signature technology for the customer to sign his or her name on a tablet in the branch and have the signature placed on a paper document using ink in a central location.
Click-to-video technology when connected to a bank’s – call center and customer relationship systems offer a win-win for banks and customers. Customers get the convenience of on-demand experts to answer their questions related to financial services and complete transactions, while bank employees are able to better manage their time with customer needs that the video technology is unable to assist with. Cisco can help banks with the essentials to quickly step into this new age of banking where consumers are not limited to the advisors in their town; they can leverage the experts from anywhere in the world/country.
Share your predictions for 2014 in banking.
CONNECT WITH CISCO