5 Benefits of Mobile Video Banking

For the past half-decade, video banking has been a rapidly growing industry as it has helped institutions decrease lobby wait times while also increasing employee efficiency. As technology adoption, so has the need for mobile video banking solutions along with in-branch and web solutions. The urgency for mobile video banking skyrocketed in 2020 as COVID-19 made it extremely difficult for people to make their way to a physical branch. At Invo Solutions, we believe that digital banking is the future of the financial industry, with mobile solutions playing a significant role. We believed that was true before the COVID-19 crisis, and in our current climate, mobile solutions could very well be the primary access point between customers and their institution. Financial institutions can’t afford to be behind the curve. Let’s look at a few of the many benefits that mobile banking brings to the table.

1. Dynamic Accessibility

Video banking began as a service that could help improve customer access to their institution. The industry is constantly looking for ways to make services more accessible for individuals. Mobile video banking takes accessibility to the next level, allowing individuals to engage their institution anytime or anywhere from their mobile device. Over 80% of Americans own smartphones, making mobile video banking a game-changer for the majority of institutions. As we speak, people across the world are looking for ways to maintain access to their financial institutions during the current crisis. Just a decade ago, that process was daunting. But today, your customers can maintain that access without skipping a beat with Invo Video Banking technology.  

2. Faster Customer Service

Nearly two-thirds of adults feel that the way a company values the time of their customers is the most important thing they can do regarding customer service delivery. Nobody wants to have their time wasted and that is especially true in the financial industry. Swift, high-quality service is important to your customers. However, as branches across the world were forced to close in 2020, customer service had never been more difficult. Mobile video banking allows customers to maintain contact with their local branch about any financial-related need they may have. 

3. Increased Convenience

Your customers aren’t just looking for a swift, high-quality service experience either. They want that same experience anytime they use your video banking solutions. Mobile video banking is the most convenient way for an individual to access their institutions on a daily basis, and that won’t change, even when COVID-19 restrictions are completely lifted. The hustle and bustle of daily life has returned for many of your customers and they are looking for more convenient ways to take care of their finances when they don’t have time to make it to a physical branch.

4. Increased Customer Satisfaction

A satisfied customer is a happy customer.  It is possible to drive higher net promoter scores with an emphasis on delivering the products and services of today, and tomorrow, through a new communication channel. Offering innovative technologies and services such as mobile video banking will not only improve the experience, but will also improve overall satisfaction with your institution. This investment in innovation leads to better customer loyalty and drives bottom-line growth. 

5. Potential For Institutional Growth

Being at the forefront of your industry is irreplaceable and leads to significant growth. 2020 showed us just how important technological advancement is for banks and credit unions. Offering mobile video banking solutions at your institution will not only improve the current customer experience, but it also makes your institution more appealing to potential customers. When it comes to finances, people want peace of mind. Mobile video banking gives them that peace of mind, knowing that they can access their financial institution whenever they need to. Contact Invo Solutions For Mobile Video Banking Solutions

At Invo Solutions, we genuinely care about people. We want to create video banking solutions for your institution that will have real-time, real-life impacts on your customers. If you are interested, get in touch with us today at (855) 468-6843 or request your free demo today