Transforming Banking and Financial Services with Video
September 16, 2016
Video is instrumental in our daily lives and increasingly it’s becoming an important part of how we do business. Leading banking and financial institutions are now leveraging audio and video across the organization, keeping employees informed of ever-more-stringent regulations and increasing cross- and up-selling opportunities. Video content helps capture key details and facts, making an effective knowledge sharing and training tool. Whether it’s broadcasting market information or spreading best sales practices, people find video a more engaging and effective way to communicate.
What are some of the uses of video for banks and financial institutions?
Video Marketing and Client Outreach
Video goes a lot farther than a generic TV commercial these days. For example, video can be used to manage customer interaction for high net-worth clients, creating a greater sense of personal connection with your most valuable customers. Personalized videos can make even automated transactions feel more welcoming. It’s not just for the high-touch clients, either – video makes for more engaging outreach for all customers.
Video recordings also offer a chance to capture more information for regulated environment call monitoring and storage. Whether managing the recordings of video transactions or keeping the full picture – including body language – of the call center environment, efficient video management is the key to meeting regulatory requirements.
For financial institutions, frequent changes in regulations and the need for accreditation requires an immense investment in training. Use training videos to quickly and efficiently keep your staff up to date, even across borders. Today’s video technology makes it easier than ever to localize or even just offer multi-lingual closed captioning.
Video tutorials can be as straightforward as training on the basics: banking procedures, how-to screencasts, HR benefits, payroll information, and more. This can free up valuable time, reducing onboarding costs and questions. But it can also help speed along more specialized training, including traders’ certification. Interactive video quizzes help maintain accountability.
Knowledge Sharing and Brokerage Compliance
Many financial services companies include daily updates and deal sheets that need to be disseminated across a large group. Video makes it easy to capture and broadcast just-in-time reports on the economy and financial markets through video podcasts. Possibly even more importantly, it leaves a trail to prove that all regulations have been complied with.
Branch Operations and Security
Every financial institution maintains video recordings of key areas, whether ATMs or trading floors. But by unifying video operations, efficiencies of scale can be achieved.
Consolidating all video onto a single platform, whether podcasts, sales videos, or surveillance cameras, makes it easier to apply a single governance system, reducing overhead and support costs while increasing security. Video can help reach across the institution, reducing costs and boosting profits. That’s why leading financial institutions and banks are increasingly relying on video.
Kaltura's mission is to power any video experience. Our wide array of video solutions are deployed globally across thousands of enterprises, media companies, service providers, and educational institutions, leveraging video to teach, learn, communicate, collaborate, and entertain.