Video Banking – The Future Face of Banking?

Date: 02nd August 2024 | Read time: 3 Minutes

Video banking has really changed the face of banking in the digital world today. It binds the ease of online banking with the power of a conversation with a person. This blog elaborates on how video banking makes banking easier and personal for all. Bringing Digital and Human Together.

Video banking enables you to bank from home but still interact with a representative of the bank in person. You are essentially having a branch sitting in your living room, opening a savings account or getting a loan, all through a video call. In essence, this makes banking so much easier and more accessible.

What is Video Banking?

Video Banking offers a branch-like experience for the customer. They can connect face-to-face with a relationship manager from the comfort of their home or office over a video call. They can use this service for Account Opening /FD Booking or resolve their queries and avail various banking services.

Video Teller Machines

These are interactive machines by which you can communicate via video with a teller. They are sort of like an ATM, but with a touch of a person. You can do many banking tasks without going into a branch and hence save your time and effort.

In-branch Video Consultation

Even if you come into a physical branch, video banking can connect you with expertise not physically present. Conduct a video chat with an expert if you need advice or assistance, making the branch visit more efficient for you.

[Also Read: Services You Can Avail with AU Video Banking]

Remote Video Banking

Through remote video banking, you will be able to bank via video calls from anywhere. Essentially, this is integrated into the online banking platforms so you can discuss anything related to your account or get some financial advice without physically visiting one. It's all about making banking easier wherever you are.

Smoother Banking

It's what makes banking easier for the customer and works better for the banks, too. Deploying the video technology alongside online banking means that banks can help more people more efficiently. That's improving customer service, making banking fit into your life seamlessly.

KYC (Know Your Customer) through video banking simplifies the verification process by allowing customers to complete it remotely. Through secure video calls, customers can verify their identity by showing their documents to a bank representative in real-time. This method not only enhances convenience but also ensures compliance with regulatory requirements, making it easier for customers to access banking services from anywhere while maintaining security and trust.

Essentially, it is the video banking that really changes the face of banking through the effective wedding of technology with the personalized service of traditional banking. It makes banking easier, more accessible, and personal to all users. Further movements in technology will dictate the future course of how we bank through video banking.