Are you ready to meet your banker, face to face, from your smartphone or tablet? New research co-sponsored by Vidyo and Efma indicates that in the most banks will be implementing video conferencing to interact with customers. Video banking is poised to take center stage in customer engagement strategies across industries but the opportunity for banking is exceptional.
Net Promoter Scores are a consistent measure of customer engagement crucial to several industries, including banking. Banks strive to balance cost, convenience and customer engagement. Branches tend to be high cost, highly engaging but low convenience. Online banking (without video) is low cost, highly convenient but lacks the personal touch so important to the banking industry. Video, however, strikes a balance: it’s a low cost solution that is convenient and engaging for customers. NPS is a statistic that crosses over both audio and video. In fact, Vidyo financial services customers have reported NPS scores doubling after implementing video banking into their customer engagement strategy!
New study by Vidyo and Efma, a not-for-profit association of 3,300 retail financial services companies in more than 130 countries, brings clarity to the role that video banking plays in the digital transformation of banks. The report also highlights video banking deployments from Barclays Retail Bank and IndusInd, one of the fastest growing next-generation private sector banks in India. See the infographic below for a summary of the findings and read the full research report here.