Your small bank likely keeps pace with current technology trends to improve customer support. Video banking may seem fun, but you might not recognize how important it could be for banking business or how it could improve profits. What does video banking do for your institution?
Better Engagement with Customers
People have families and jobs to fill their schedules. Visiting a bank can be inconvenient. However, video banking allows people to sit wherever they are and talk with a knowledgeable bank employee. They won't wait in physical lines or have to make special outings just to do that.
Because they're in a location they choose, you may discover they're more open to a longer dialogue than when they're in a physical bank location. For instance, they may be willing to hear more about various banking services they don't yet use. They might ask more questions since no one else is physically close to them or waiting impatiently behind them.
Better Communication with Disabled People
Video banking could open up many more avenues in terms of the people you're able to serve. Deaf people, for instance, may find video banking much easier; traditional bank locations do not, at times, have people available who communicate in sign language. Bedridden or wheelchair-bound customers could also be more likely to bank with your institution if video banking is implemented.
Security surrounding people's finances is vital. Video banking, with face-recognition assistance, could make it virtually impossible for someone to impersonate a customer. This could be essential for people who are concerned about keeping accounts secure.
Every bank appreciates the value attached to lower operating costs; video banking lowers those costs in multiple ways. For starters, if you bring on qualified bank staff that can work from their own apartments or houses through video connections with customers, you may be able to hire them as individual contractors or freelancers. This means you will likely not pay for health insurance, workers' compensation or other incentives that come along with those classified as employees. The bank could save significant amounts of money. You can, of course, offer certain incentives if you choose.
Home workers will also permit the bank to lessen extended bank branch hours. If you can shave off even a few hours from branch operation schedules, you'll save on utility and plumbing costs.
These benefits make video banking important to your specific institution. Seek professionals in video banking solutions for guidance and set-up help.