White Paper: How Interactive Live Video Is Making Banking Personal Again

Research continues to prove that more of us than ever and banking online.  Studies show that 94% of millennials now conduct their transactional banking entirely online.  And it is not just millennials; there are now more people who bank on a smartphone or computer on a weekly basis than who step foot in a branch.

In line with this customer move to online channels, banks are increasingly faced with the dilemma that while customers expect everything to be online, they also are demanding a more personalized service.  The friendly face and personal touch from a bank teller – once an integral part of the banking customer experience – have largely been replaced by automation.  As a result, banks are looking for solutions to enable them to deliver the level of service they want to online.  Many are turning to live video.  

This latest white paper explores how interactive live video is ushering in a new era of service in personal banking, the opportunity for banks, as well as best practices for implementing interactive live video into the customer journey.

Click here to download the white paper.

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White Paper: Live Video in Financial Services

frontcover_white_paper-financial_services-1116-website_imageDigital disruption has forged a new world of finance. Banking and financial services now exist online and within mobile apps where the human touch of a teller or an advisor has largely been replaced by automation and artificial intelligence.

The convenience and seamlessness of managing finances online has become standard. Today, customers not only expect to manage their accounts online, they are also demanding a more personalized customer experience. As fintech startups challenge the industry and loyalty wanes, banks and financial institutions must find a way to break through the homogenized digital landscape to deepen engagement and drive value with this growing cohort of customers.

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TokBox at Finovate Fall 2016

Finovate__F__Twitter_LogoInnovation in banking has previously focussed predominantly on customer convenience.  For all of the efficiency and convenience technologies have brought to banking, banks always need to differentiate themselves with superior service.  And that’s why many leading financial organizations are now turning their attention toward customer experience.  In an age where banking is increasingly done online or through mobile applications, this presents a challenge to many financial service organizations.

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TokBox At FinDEVr: Why You Never Need People In A Branch Again

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As behavior changes and as technology continues to transform the financial services industry, it is no surprise that bank branches are closing. Analysts suggest that the number of bank branches open in the US could be cut by within the next decade.  This is to be expected as more and more of what we do as customers is online.  According to research conducted by Accenture customers engage with their banks an average of 17 times a month, but only two of those interactions involve human contact.

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The Future of Retail Financial Services

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Due to evolving customer expectations when it comes to service, organizations across a range of different industries are having to change their business models in order to retain and gain customers.  One industry in particular that is learning this lesson is the financial services industry.  When it comes to banking, there is always news of branches shutting down, more users using their mobile phones for banking and technology being used to make all transactions quicker and easier.

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TokBox at Money 2020 Europe

money2020There is no doubt that the financial service industry is going through a period of accelerated change.  In order to keep up with shifting customer behavior and expectations, organizations are turning to a range of new technologies in order to create better experiences for their employees and customers.

Money2020, the world’s largest fintech event, focuses exactly on these innovative and disruptive technologies and how they are being used.  For the first time, TokBox will be exhibiting this year at the European show, taking place in Copenhagen, April 4-7.

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