Creating a Video Enabled Banking Strategy
Brian Gilman
May 2017
VP, Product/Solutions Marketing
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Vidyo Overview
• Highest Quality Video Collaboration
• Software Architecture- 120 Patents
• Cloud - Hybrid- On-Premises
• APIs, Integration, Customization
• Unmatched over mobile
• Scalability, Security, Resolution
• Healthcare, Finance, Government
3 © Copyright 2017 Vidyo Inc., confidential, proprietary and patent pending information
Industry Recognition
2016 Leader in Gartner Magic
Quadrant for Group Video Conferencing
2015 Visionary in the Gartner Magic
Quadrant for Web Conferencing
2016 Finalist- Best of Enterprise Connect
2015 Frost and Sullivan Global Video
Conferencing Leader
MobileUbiquity
CloudAdoption
ContactCenter
Evolution
B2CFocus
ConsumerPreference
Trends in Video Customer Engagement
Device proliferation: 72% of adults own a smartphone1
In 2016, 76% of organizations hosted up to half their
software applications in the cloud, with continued
growth expected for 20172
By the end of 2017, 1/3 of Contact Centers will
deploy video chat3
More than 20% of the Global 500 will be using video
chat for customer interactions by 20184
>25% of consumers would move their money to a different
financial institution for video advice5
5 © Copyright 2017 Vidyo Inc., confidential, proprietary and patent pending information © Copyright 2016 Vidyo Inc., confidential, proprietary and patent pending information
• Reduce costs of client channels
• Improve customer service to deliver information the customer needs at a time and place of the customers choice
• Improve operational efficiency and productivity
Challenges Facing Financial Services
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• The world has shifted to digital
- Interactions get dis-intermediated and shift to self service
• Yet live interactions remain critical
- Trusted escalation
- Advice
- Moment of truth
• Video is unique
- Enables fully engaged conversations
- Be responsive on consumer’s terms
- Seizes the moment
© Copyright 2016 Vidyo Inc., confidential, proprietary and patent pending information
Video Matters!
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For moments of truth
– Advice in the moment
– Positive emotions impacts CX
– Drive engagement
For getting things done
– Effortless access to a human
– Remove uncertainties
– Provide efficient escalations
© Copyright 2016 Vidyo Inc., confidential, proprietary and patent pending information
Context Defines the Role of Video
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4 Major Use Cases for Video
Assisted Self-Service
Consultative Selling
Visual Support
Expert Access
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You cannot compromise on the quality of the experience
Quality
Accessible
Reliable
Branded
Integrated
Secure & private
Effortless
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Why Vidyo?
• Quality and reliability of video communication second to none- Dynamic adaption to network conditions
• Effortless video addition- Powerful APIs to customize, make repeatable, and brand the experience
• Managed, secured, and private service- Available from the cloud or hosted inside your enterprise firewall
• Let video to be woven/embedded into omnichannel experiences- Packaged integrations with Contact Center & CRM leaders
• Expertise and proven methodology- Broad references across industries
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Vidyo & Genesys/ININ Bring it All Together
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Consumers Credit Union
THE NEW MEMBER EXPERIENCE
THE BUSINESS NEED
• Key initiatives
• Modify our existing business model to support the shift in how consumers are doing business
• Centralize back-office staff, then evaluate our existing locations for possible remodel or relocation
• Provide an enhanced and consistent Member experience through all channels
• Improve credit union performance
• Leverage new technology to improve efficiency, quality and member engagement
OUR CENTRALIZED BUSINESS MODEL
• In January 2014 we centralized our sales reps (new accounts and loans)
• 16 Member Experience Advisors
• 2 Online account processors
• 2 Assistant Sales Managers
• 1 Sales Manager
• The Service Center
• 1 Member Experience Manager
• 1 Assistant Member Experience Manager
• 1-2 Member Experience Specialists
• 1-2 Universal Member Experience Reps (hybrid of Concierge and Teller)
• 1 Member Experience Rep (teller) Lead
• 4-10 Member Experience Reps
OUR CENTRALIZED BUSINESS MODEL
• Successfully converted all 6 locations by December 2014
• The Contact Center (18 video agents), VISA (5 video agents) and Mortgage (23 video agents) departments added to video interactions Q1 2016
• Specialized account services: In-branch service rep
• Teller Services: In-branch teller
THE MEMBER EXPERIENCE OFFICE (MXO)
THE VIDEO AGENT
MOBILE VIDEO INTERACTIONS
• Mobile Video Chat launched in January 2017 for IPhone and Android February 2017.
WEB VIDEO INTERACTIONS
• Web Video Chat (Chrome users) launched December 2016.
BEST PRACTICES/LESSONS LEARNED
• Determine if a need exists
• Intellectual consensus among the Senior leadership team
• Communication is key
• Gain employee buy in
• The right people, in the right positions, using the right processes
• The consumer experience comes first, technology comes second
• Stakeholder involvement
THE BENEFITS
• Decreased wait times
• The average wait time went from up to 1.5 hours, depending on the branch, to under 2 minutes to open a new account or apply for a loan
• The ability to monitor volume through all channels since interactions are queued through I3.
• Consistency in Member service and experience across channels as a result of uniform coaching among sales staff
• Specialized service from Subject Matter Experts (SMEs)
• Increased Member engagement by use of video and exposure to technology
THE BENEFITS• Allows for scalability as we continue to expand outside our current footprint
• Increased Member satisfaction
• Member satisfaction rating increased from 91.5% in 2014 to 95.8% in 2015
• 97% of Members who completed a video interaction were extremely satisfied or satisfied with their experience
• Our net promoter score in 2015 85% (based on most recent purchase)
• In 2014, 46% of our employees were either promoted or transferred to a new position. No employees were laid off due to this business remodel
• Improved overall credit union growth: Double digit loan, deposit and membership growth year over year.
• We are now a $1billion credit union!