|[March 14, 2017]
Vidyo Releases 2017 Video Banking Survey, Demonstrating the Growing Popularity of Video Collaboration Among Financial Institutions
Embedded video technology leader and video conferencing pioneer Vidyo,
in collaboration with Efma, an association of 3,300 retail financial
services companies in more than 130 countries, and CUNA Strategic
Services, which provides credit unions with access to high quality
products, services and technologies, today released its 2017
Video Banking Survey, highlighting the growing adoption of mobile
video banking across the globe. Financial institutions, such as credit
unions and banks, are turning to video collaboration in order to increase
customer engagement and improve Net Promoter Scores and first call
The data, which shows how video-enabled
contact centers can become financial institutions' secret weapon for
innovation, was collected from 282 financial institution representatives
across 63 countries from December through January 2017. View the full
report here: Video
Banking Report 2017: Advancing on the Road to Maturity.
Connecting via video is becoming increasingly accessible for customers.
Almost 20% of survey respondents have deployed at least one form of
video banking, more than 40% are piloting a video service, and more than
80% are planning to offer video banking in the future. In the
2016 survey, a little more than 10% of respondents had deployed at
least one form of video banking, while 30% were piloting a video service.
Financial institutions are responding to the demand for video visits by
offering customers the ability to easily connect from anywhere, whether
they are at home or on-the-go, and while using any device.
Key Findings Confirm the Positive Outcomes of Video Banking:
64% said that video banking has increased customer satisfaction.
72% said that video has increased the perception that their
organization is innovative.
62% said that video banking has decreased branch workload.
60% said that video banking has created faster customer service.
High-quality, mobile embedded video collaboration is helping financial
institutions encourage strong customer loyalty, and increase Net
Promoter Scores, by letting them build face-to-face connections and
offer services from anywhere, anytime and on virtually any device. Vidyo (News - Alert)
lets anyone join
a video call easily via WebRTC, with no downloads or installations
"For credit unions, banks and other financial institutions, Vidyo is
leading the pack of embedded video providers because our patented
technology and self-service platform have made up-front financial and
technical concerns a thing of the past, allowing institutions to offer
the best mobile video banking experience available today - without any
of the heavy lifting," said Vidyo CEO Eran Westman.
"The survey results indicate that today's customers want to interact
with their bank in a way that is both convenient to them but personal as
well," said Vincent Bastid, CEO of Efma. "The fact the majority of
bankers are looking to incorporate video banking in the future indicates
that not only is it set to grow, but video banking is set to become a
medium customers will become increasingly comfortable with and reliant
Until recently, many video banking solutions have been limited to
in-branch kiosks and ATMs, because video-enabling institution-owned
technology presents fewer technical hurdles, costs and security concerns
than creating a fully-mobile video solution that is designed for
smartphones, tablets and the public Internet. There is a need for more
flexibility: approximately 60 percent of survey respondents cited video
technologies' lack of integration capabilities with their existing tech
and workflows as a reason why they have not yet deployed a video banking
Today, the data shows that video banking is exiting the branch:
According to the survey, in-branch video banking deployments, and
personal video banking applications, are now almost equal (at 10% and
For financial institutions with the intent to initiate a video banking
service within the next twelve months, 19% will offer in-branch video
banking - while 28% are planning to offer personal video banking
According to the survey,
the top five concerns for financial institutions regarding video
The support of a variety of devices and operating systems
High video quality
Integration into existing workflows and applications
Vidyo is meeting these challenges for credit unions and banks by letting
developers quickly and easily embed high-quality, reliable, secure,
cloud-hosted, pay-as-you-go video collaboration technology into
virtually any workflow or customer engagement solution on any device, by
industry-leading API platform that is built on patented video
routing and layering methods.
Mobile-first video banking that is reliable for customers, simple for
application developers and cost-effective for financial institutions is
becoming an increasingly popular digital banking tool that is mutually
beneficial for both branches and customers alike. Click
here to view the full report, and learn how mobile video
collaboration is transforming the banking experience.
About Vidyo, Inc.
Millions of users around the world visually connect every day with
Vidyo's secure, scalable technology and cloud-based services. Vidyo
offers video collaboration solutions for companies that require the
highest-quality video interaction available. Recognized with over 120
patents, the company's software platform and APIs are used by enterprise
customers, service providers, ecosystem partners and developers to
create innovative HD quality video-enabled applications embedded into
application workflows and emerging IoT devices. For more information,
A global non-profit organisation, established in 1971 by banks and
insurance companies, Efma facilitates networking between
decision-makers. It provides quality insights to help banks and
insurance companies make the right decisions to foster innovation and
drive their transformation. Over 3,300 brands in 130 countries are Efma
members. Headquarters in Paris. Offices in London, Brussels, Barcelona,
Stockholm, Bratislava, Dubai, Mumbai and Singapore. Learn more at www.efma.com
About CUNA Strategic Services
CUNA Strategic Services develops strategic alliance relationships to
offer quality products and services to your credit union that contribute
to your bottom line, add to your peace of mind, and enhance your
relationships. The company is jointly owned by Credit Union National
Association and the state leagues. For more information, visit www.cunastrategicservices.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170314005525/en/
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