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.
Unsurprisingly, as has been necessary across a number of other industries, significant changes need to be made to business models and practices in line with this behavioral shift. Inevitably, as a result, new challenges arise. In a talk last month at FindDEVr New York, an event that explores transformation technology in the FinTech industry, TokBox Director of Product, Melih Onvural talked about some of these crucial challenges that arise from these trends:
-Branches are closing but banks want to be able to offer a quality service online.
-Customers want the speed and efficiency of online services as well as a real person to talk to when they have questions.
Melih spoke about the role of real-time communications in solving these challenges, the solutions that are available now to help businesses get started transform their digital presence and real world use cases.
Click here to watch the full session including a live demo of embedding real-time communications into an application. Alternatively you can find out more about the TokBox Financial Services Accelerator Pack.