About 80% of banks plan to offer video-enabled banking services, while almost 93% expect the channel to boost customer satisfaction, according to a report by Efma and Vidyo.
Over 70% of banks prioritised video banking via mobile and desktop over branch or ATM.
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Moreover, more than 60% of banks held the view that private banking, wealth management, mortgage and loan services were most ideal for the channel.
Respondents cited click-to-call on mobile and web, call scheduling, call recording and call escalation as video banking’s key capabilities, and over 75% said that success in video banking is a video session held without technical issue 8 times out of 10, irrespective of endpoint or network.
Efma CEO Vincent Bastid said: "The findings show that there is a strong appetite for video-powered banking worldwide, and we firmly believe in the power of the technology to maintain and improve the personal connection between the customer and the bank."
About one-fourth of respondents have already or are in the process of piloting video banking.
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By GlobalDataTwenty four percent will start to plan for one in the next 12 months, while another 30% plan to do so in the near future.
As a result, about 80% of banks are expected to offer video banking services in the near future, the study said.
According to the respondents, better customer satisfaction and building perception as an innovative bank were the biggest drivers for deployment of video banking.
Security, compliance, cost and customer preparedness were considered to be the biggest impediments in this regard.
