Video banking explained

Video banking refers to banking transactions or professional banking consultations performed via a remote video connection. Video banking can be performed via purpose built banking transaction machines (similar to an automated teller machine), or via a videoconference enabled bank branch.

Types of video banking

In-branch

Video banking can be conducted in a traditional banking branch.[1] This form of video banking replaces traditional banking tellers to a location outside of the main banking branch area, via the use of video and audio links. Customer use a purpose built machine in the branch to process viable medias such as cheques, cash, or coins.

Video banking can enable banks to expand the availability of banking consultations to branches that may not otherwise have staff with certain types of expertise.[2]

Non-branch vestibules

Video banking can be provided during non-traditional branch banking hours, up to 24 hours a day,[3] or in non-traditional banking locations such as grocery stores, office buildings, factories, or educational campuses.[4] The Indian bank IndusInd Bank, for example, launched a service called Video Branch which allows customers to conduct virtual face-to-face banking with bank branch managers or a central video branch from any location.[5] [6]

References

  1. Young (2009) "Metro Detroit among 1st in U.S. to get video banking", Metro Detroit Free Press.
  2. Web site: Tandberg . August 2005 . Transforming Branch Banking: Real-Time Advice in the 21st Century . https://web.archive.org/web/20110927103111/http://www.banktech.com/whitepaper/Architecture/Infrastructure/transforming-branch-banking:-real-time-advice-in-wp9600003 . Sep 27, 2011 . Bank Systems & Technology Digital Library.
  3. Web site: dead . May 11, 2009 . Coastal's new teller system increases branch traffic . https://web.archive.org/web/20110716135923/http://www.cuna.org/newsnow/09/system050809-6.html . July 16, 2011 . CUNA News Now .
  4. Web site: Credit Union Center . November 2008 . As A Recession Looms, Innovation Could Be Your Competitive Key . The Blue Paper. dead . https://web.archive.org/web/20120224080140/http://www.ailife.com/Main/forms/bluepapers/BP_Nov08.pdf . Feb 24, 2012.
  5. Web site: Jun 2, 2014 . IndusInd Bank launches Video Branch service for customers . dead . https://web.archive.org/web/20160305021509/http://articles.economictimes.indiatimes.com/2014-06-02/news/50272707_1_bank-branch-bank-staff-customers . Mar 5, 2016 . The Economic Times.
  6. Web site: IndusInd Bank launches video banking. 2 June 2014 . Anand . Adhikari . Business Today . live . https://web.archive.org/web/20230512123342/https://www.businesstoday.in/industry/banks/story/indusind-bank-launches-video-banking-45733-2014-06-02 . May 12, 2023 .

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Video banking".

Except where otherwise indicated, Everything.Explained.Today is © Copyright 2009-2024, A B Cryer, All Rights Reserved. Cookie policy.