The bank of the future at the push of a button – Cisco Blogs

Online banking has almost become the standard, so that banks are using fewer and fewer employees on site. But many customers still want personal advice in the branch. Ratiodata Video Consult offers a practical solution here.

Financial advice by video in the bank branch of the VR-Bankverein Bad Hersfeld-Rotenburg eG.

“I’ve been a customer of the bank since 1954 when I earned my first money – that was twelve D-Marks and 32 pfennigs,” recalls a long-established citizen from Obergeis in the Hessian community of Neuenstein. “Back then you had to pay attention to the counter and opening times. So it happened to me that I came and couldn’t do anything. Now you are no longer bound to any office hours. You put the bill down and press the button. Then you talk to a nice young man or a nice young woman. It’s very simple – easier than driving a car. ”

While in the 1950s every place, no matter how small , had a local bank branch , a few decades later residents in rural areas had to drive for kilometers to do their banking. More and more branches are closing due to a lack of profitability and even in larger cities the bank branches are more and more vacant. They are only used for self-service at ATMs and bank statement printers – this trend is intensified by the current coronavirus pandemic.

While most younger customers use online banking as an attractive alternative for everyday banking transactions, many older people find it difficult to make transfers at ATMs. They depend on advice and on-site presence, which is now often further away from their home. But the example given by the gentleman from Obergeis at the beginning shows that there is a practical solution for them that they like to use.

Video conference system as a solution

Because the modern video conferencing technologies, which have helped companies, authorities and educational institutions to maintain their day-to-day business in recent months, are also showing banks the way out of the crisis and into the digital future. In addition, they offer their customers personal service even without employees in the local branch. How it is possible to ensure that branch closings do not mean the end of personal advice or extra ways for customers is shown by the Ratiodata Video Consult solution, a solution that was developed by Ratiodata in technological cooperation with Cisco.

Thomas Balk, member of the board of directors of VR-Bankverein Bad Hersfeld-Rotenburg eG, explains the background that led to this solution: “Normally, personal closeness can only be represented by keeping people on site. How can we create a replacement? To do this, we were looking for a video system with which we could offer customers who visit the branch a similar alternative. We have now mapped this via Ratiodata Video Consult. The customers still come to us in the branch and find a personal conversation there like in the past – nowadays digitally via video. ”

Numerous advantages through virtual advice

The video solution offers a very easy-to-use option for remotely communicating with bank advisors and exchanging documents. The terminal consists of a video conference, a digital signage solution and a PenPad for digital signatures. In addition, a camera enables documents to be shared with employees and authentication via ID.

A simple push of a button is enough for customers to have a secure video conference in full HD resolution and high-quality sound with advisors in the main branch of the bank or in the customer service center. The customer is immediately in a video conference with an employee from the main branch or the customer service center. The customer simply places the documents on an area marked on the terminal, where they can be easily recognized by the employee thanks to the document camera. This is also how authentication takes place, for example with the help of a digital signature. This means that even complex processes can be finalized without the presence of bank employees on site.

But these solutions are also suitable for larger branches with on-site consultants, for example to avoid long waiting times at peak times. In addition, the personal advisor can spontaneously add another expert for each topic so that he can close the respective case at the customer’s request. As personal support continues, the video conference continues to guarantee customer proximity and trust.

Suitable for young and old

Not only older citizens, but also younger customers who mainly use mobile and online banking, find a new point of contact with Ratiodata Video Consult. Until now, the classic bank consultation with a fixed appointment and limited office hours represented a stark contrast to their habits for these customers. After all, many young people are not used to setting an appointment first by telephone in order to arrive punctually in a branch and maybe even waiting times to be accepted.

Instead, more and more apps and digital services offer the option of doing banking via the preferred channel regardless of time and place. Thanks to the video solution, the personal consultation is now as flexible as a streaming service and as easy as withdrawing money. The intuitive operation enables customers of all ages to use a comprehensive, high-quality banking advisory service that also meets all data protection and security requirements.

Safety is a top priority

“We have been a partner of Cisco for a very long time,” says Martin Greiwe, CEO of Ratiodata AG. “It is very important for us: We work in the banking environment, our customers’ data is very sensitive. Under no circumstances should data be lost or conversations overheard. The quality of the solution is extremely high. We have thus set up a video solution that fits seamlessly into the design of the banks – including a privacy lounge if required. It is very easy to use and therefore has a high level of acceptance among customers of the bank, but also among employees. ”

Ratiodata Video Consult offers an alternative to the bank counter

The video solution offers a high level of security – and that with very good conversation and video quality. The customer switches to a secured video conference at the push of a button. In addition, the signature pad enables advice until the final contract is signed. Ratiodata Video Consult gives customers the opportunity to use modern and secure banking services even more easily and flexibly. This turns the virtual consultation via video into a new kind of banking experience that many customers are familiar with from their home office time.

“The experience with the Ratiodata and Cisco is very positive,” sums up Thomas Balk. “We are more than satisfied. The system is good because it is simple, proven and its functionality is stable. We will therefore install it in all branches, especially in order to offer customers an alternative to personal service at the counter at peak times.”