Video Banking: How Banking 2.0 Works

Video Banking: How Banking 2.0 Works

May 17, 2022
Connect & Support People

Engage Spotlight

The Advantage of Modern Banking 

The days people had to go to the local bank branch for every transaction are long gone. Unlike your parents and grandparents, you have a decisive advantage: You always have your digital bank at your side. Various apps and self-service tools help you manage and keep track of your accounts at any time.

However, interaction with bank representatives on site is still important for most people. That’s not least because it’s a service that deals with sensitive information. A modern alternative to this form of personal contact is video banking, which dispenses the need to go the to branch personally.

Mobile video banking is a way to talk to your bank advisor directly, without going to the bank branch first. As a mobile solution, you can access your video bank from your computer, smartphone or tablet. The application is easy to use and absolutely secure.

To ensure your security, the providers first verify your identity. Only then can you discuss topics related to your accounts or personal information. You can easily and conveniently do the following via video banking:

  • Apply for a loan or mortgage.
  • Open a children’s savings account or a youth account.
  • Apply for a new card.
  • Adjust the deposited account properties.

Digital Banking: The Benefits of Video Banking

The modern form of banking offers you various benefits. You don’t necessarily have to live in a rural area – even in a vibrant metropolis, video banking offers advantages.

  • Fast and convenient: There is no need to walk or drive to your bank branch, which means less organizational work for you. In principle, you can contact your contact person even five minutes before the end of opening hours.
  • Personal interaction: Even if you are skeptical about automated services, with mobile video banking you still have human interaction.
  • Improved expertise: Specialized staff rarely travel from branch to branch. That’s why you benefit from video conferencing with just such experts. Remote conversations allow them to help you with your issue – no matter where you live.
  • Better service: video recordings of customer conversations allow banks to make assessments. This allows them to fix mistakes and further improve their services. This fact not only benefits the banks, but also you as a customer.

Video bank and the traditional bank branch: a perfect symbiosis

It is no longer possible to imagine most areas without digitalization. Nevertheless, there are hardly any people who voluntarily do without any interpersonal interaction. However, this is not just a preference: age, personality or social background can make it difficult to access modern media and technical devices.

For this reason, video banking is another tool that makes everyday life more digital and easier. However, it does not replace on-site contact. Rather, the two approaches complement each other perfectly.

 

Efficient video banking: technical requirements

Before video banking can make every day financial life easier, the tools must meet certain technical requirements. Since this is a customer-facing service, the solution must make communication between the bank and the customer easier.

  • Usability is the basic requirement for participating in meetings. Cumbersome downloads or plug-ins are out of place in this area. Basically, the easier the access, the happier the customers.
  • Security: Financial services require impeccable privacy, high security standards and data protection compliance. The software solution must guarantee all these aspects.
  • Branding: Tailored branding is the be-all and end-all for the customer journey. This means that the customer must recognize from the user interface that he is in the right place.
  • Interoperability: For video banking to function properly, the technical infrastructure must be available everywhere and on different devices. This is the only way that customers, employees from the home office or people from other branches can dial in.
  • Flexibility: Another important factor is flexibility. No matter what type of software is involved, it must fit the way the company works. A flexible solution should be adaptable to existing systems, tools and workflows.

See how TeamViewer Engage works

Connect with our experts to see a demo of what TeamViewer Engage can do for your Video Banking Solution.

Engage in video banking: with the innovative software solution from TeamViewer

TeamViewer is best known for its tools for remote access to remote computers. However, that’s not the only area of application, because: TeamViewer enables a new virtual branch in the field of video banking.

The application TeamViewer Engage is scalable and can be used via the cloud or on-premises. A high security standard makes it an enterprise-ready tool in the financial sector, but also in other areas. You are supported by the following features of the software solution:

  • You can proactively engage with your customers on your website.
  • Chatbots with a seamless transition to a live chat with real support staff help your customers in any situation.
  • You can either fill out documents together with your customers or review submitted documents. Co-browsing and eSignature provide the necessary infrastructure.

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