Unlocking Customer Engagement: Six Key Factors for Choosing a Video Banking Platform

Customer expectations are continuously shifting, making it vital for banks to deliver exceptional value. However, delivering value in today’s marketplace means meeting customers where they are. According to online sources, consumers are requesting more video content when interacting with their favorite brands, with 91% of consumers being in favor of video. Banking and financial services are no different. As customers increasingly adopt online video banking services, leveraging video presents the opportunity for:

• More personalized experiences
• Enhanced communication and collaboration
• Safe and secure interactions
• Business efficiencies and cost savings

In a landscape where customer experience and engagement are paramount, innovative video banking solutions redefine how financial institutions connect with their customers. Below are the top six considerations when shopping for an enterprise video platform to digitize your banking communication and video needs.

1.      Brings Personalization and Efficiency to Video Banking Services

When considering a video banking solution to elevate customer experience, whether through live video calls for loan applications or account openings, it’s important to have features that prioritize interactivity and personalization. Innovative video solutions offer live broadcasting, video hosting, and management capabilities that allow banks to deliver personalized and secure information on a larger scale. It’s not just about providing information – it’s about engaging customers in an interactive and responsive way.

2.      Integrates with Enterprise Systems

Prioritizing seamless integration with existing enterprise systems, including your website, CRM, and other applications, enables businesses to blend video with current operations effortlessly. This integration facilitates an enhanced customer experience without interrupting established workflows. By bridging the divide between traditional banking systems and modern digital solutions, banks can ensure a smooth transition towards more customer-centric services.

3.      Upholds Security and Compliance

In an industry where security is non-negotiable, your video solution must prioritize the protection of sensitive information. Seek solutions that offer secure video hosting with encryption, multi-factor authentication, and access controls to safeguard against unauthorized access. Ensure that the platform is compliant with regulations such as GDPR and CCPA, guaranteeing that all video communications adhere to the highest data protection and privacy standards.

4.      Delivers Robust Audit Trails for Regulatory Compliance

To maintain regulatory compliance and secure video banking communications, it’s essential that your video solution not only secures communications but also provides robust audit trail capabilities. Ensure the solution includes secure video recording and archiving to track and record all video communications, including banking sessions and internal employee communications. Additionally, ensure the platform provides access control and permissions to restrict access to authorized personnel only, safeguarding the integrity of audit trails.

5.      Includes Analytics and Reporting

Comprehensive viewer analytics and reporting features help organizations assess the effectiveness of their video communications by tracking user engagement, video views, and other relevant metrics. By gaining insights into the performance and reach of your video content, you can make informed decisions about future video strategies. This data-driven approach also ensures that your content aligns with the information your customers seek, ultimately enhancing their experience.

6.      Scales Globally

Solutions designed to handle increased volumes without compromising performance are critical to ensure seamless and uninterrupted video hosting, live broadcasting, and video management, regardless of operational scale. You want to ensure the solution can adapt to the varying demands of its users, delivering consistent performance and reliability.

This scalability is particularly beneficial for financial institutions expanding globally, as it guarantees a uniform quality of service to customers worldwide.

Maximizing Customer Engagement with Qumu Video Banking Management Technology

Qumu’s comprehensive video banking platform is a powerful tool for modern financial services. It combines personalized service delivery with rigorous security and compliance measures. Its ability to integrate with existing systems, combined with features like live broadcasting, secure video management, advanced analytics, and mobile support, guarantees maximized customer engagement with video management.

To learn more about how Qumu’s enterprise video platform can help your bank enhance customer engagement, download The Ultimate Video Banking Guide or Contact Us to speak with one of our video experts.