TMCnet News
Global Survey: Online and In-Branch Video Banking Experiences Yield High Consumer SatisfactionAccording to Vidyo's (News - Alert) 2018 Global Video Banking Report, an overwhelming majority of consumers who have used video banking would use such services again in the future. This highlights the high potential ROI across consumer satisfaction and sales metrics for financial services institutions offering video banking services. The global study focuses on financial institutions and their consumers in North America and Western Europe: 288 financial services professionals and 4,144 consumers were surveyed. It was conducted through a 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. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180426005372/en/ Vidyo Banking Infographic 2018 (Graphic: Business Wire) Consumers Who Have Tried Video Banking Want to Use It Again Whether through online video banking (85 percent of consumers said they would use it again) or in-branch video banking (90 percent of consumers said they would use it again), consumers find tremendous value in interacting with their financial institutions via video. However, despite the increasing adoption rate and significant customer satisfaction results, only 15 percent of consumers have actually had an opportunity to experience video banking. The report highlights that organizations should prioritize driving the first use of video banking to increase adoption, and several key findings support that strategy:
Banking Organizations See Positive Impact of Video Interactions (News - Alert) The survey provides strong evidence that financial services organizations that offer video banking services see impactful ROI:
Technology Is the Biggest Hurdle The research also shows that although technology is not anticipated to be the biggest hurdle for implementation, it is, in fact, the number one challenge that organizations face when deploying a video banking service:
For those organizations that said that finding the right technology was a big hurdle, the key challenge reported was the need for online video banking to work in a consumer environment. "This report validates what we already know - that even in an increasingly digital world there are times when a face-to-face human interaction can make all the difference in resolving issues more expeditiously, closing transactions and delighting the customer," said Elana Anderson, Chief Marketing Officer of Vidyo. "Vidyo is proud to be leading the way and empowering financial institutions to engage the consumer where they are by offering the best online and in-branch video banking experiences available." "This report clearly shows that video banking is here to stay and organizations must begin implementing it now or risk being left behind," said Vincent Bastid, CEO of Efma. "The reality is that customers are ready for it, banks are able to do it, and there are significant advantages from both revenue and customer relationship perspectives in deploying video banking services." About Efma 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.
Efma Contact: 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.
Brenda Halverson About Vidyo, Inc. Vidyo is the leader in integrated video collaboration for businesses that require the highest quality real-time video communications available to directly embed into their business processes. Millions of users around the world visually connect every day with Vidyo's secure, scalable technology and cloud-based services. Vidyo has been awarded over 170 patents worldwide and is recognized by industry analysts for its cloud platform and APIs. Thousands of enterprises, service providers, and technology partners leverage Vidyo's technology to create innovative HD-quality video-enabled applications. Learn more at www.vidyo.com, on the blog, or follow Vidyo on Twitter (News - Alert) at @vidyo and on Facebook. The VIDYO logo is a registered trademark of Vidyo, Inc., VIDYO and the trademarks of the VIDYO family of products are trademarks of Vidyo, Inc. and the other trademarks referenced herein are the property of their respective owners. Many of the products and features described herein remain in varying stages of development and will be offered on a when-and-if available basis. The product plans, specifications, and descriptions are provided for information only and are subject to change without notice, and are provided without warranty of any kind, express or implied. Vidyo reserves the right to modify future product plans at any time.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180426005372/en/ |