Tag Archives: competition

Video Conference Services for Banks of the Future

How Video Conference Services can create additional value for banks of the future.

The Banking Sector and the whole financial industry have been subject to considerable change within the last couple of years. The fast development of the Internet and the growing acceptance of Internet users for online banking, entail great chances as well as great risks. Deutsche Bank AG Co-CEO Jürgen Fitschen has expressed his concerns about possible competition from big Internet companies such as Google or Microsoft, who have detailed knowledge about their customers’ preferences, which they could use for financial services.

Also video conference services play an ever growing role in the banking sector and add positively to change and modernization of business processes. Especially investment banks make use of video conference services in order to globally exchange real time information about markets, shares, currencies and other relevant information.

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“Deutsche Bank Skyscrapers in Frankfurt, Germany” by Thomas Wolf (www.foto-tw.de)

Up to now video conference services have been used seldom in areas such as Private Wealth Management, although those could potentially have an important impact on changing banking products and offers. Many banks keep themselves busy with designing concepts for bank branches of the future, in which video conference services certainly will be one of the components.

If you take a closer look at the traditional banking concept for private customers throughout Germany (provident banks, cooperative banks, Deutsche Bank, Postbank, Commerzbank and many more) you will not find a lot of creative approaches for change: During normal office hours customers get detailed advice about accounts and construction loans, leaving almost no time for individual advice.

Video conference services could leave more design scope to banks, thus helping them to offer better, faster and more tailored advice to their customers.

Improving Internal Communication

Using modern video conference services enables banks to equally inform all employees at all locations about current developments at the financial market, political changes or new products of the bank and their business partners. A big advantage compared to ordinary media channels (e-mail, intranet, video streaming, etc.) is the personal contact, which allows for further inquiries and therewith promotes a higher level of knowledge. Furthermore participation numbers are transparent.

Remote Experts Advice via Video Conference

In many cases customers confront their bank advisers with very complicated questions. The worst case is that the adviser will give the customer bad advice or has to start a lengthy inquiry within the bank to get the necessary information from an internal expert. Either way is not very customer friendly. A smart solution here would be to patch in the expert via video conference. This concept could also save travel costs where experts are shattered across the whole country and it additionally could accelerate decision processes concerning sales and distribution deals.

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This lady can talk to the right expert, thanks to video conferencing services.

Customer Advice via Video Conference

Modern video conference services can also be used to advice customers via video conference. Many video conference services permit taking part in a video conference via desktop PC, Mac or also with Tablet or Smartphone as mobile service. In the future bank advisers can effortlessly communicate with their customers via video conference. This still might sound like a vision to banks, but it should not be forgotten that the coming generation has been exposed to video conference services such as Skype since their early childhood and does not have any reservations against this communication medium. Banks certainly will have to look into this new consumer behaviour.

Consequently video conferences and modern video conference services have great potential for innovative financial services and banks. Putting technology to use in a smart way can be the decisive competitive edge for banks in creating an ideal environment for individual and superior advice also in the future.

Have you ever been using service like these or is your organisation having similar approaches? Let us know of your experiences and drop us an comment below!

All New Viber: Cross-Platform Monster for Consumers

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Viber Desktop with all new features (Image by Viber Media Inc.)

Some of you might know Viber already and that they are  now also providing a solution for Windows and Mac based workstations. For everyone else here is a quick introduction to Viber:

What is Viber?

Viber is a cross-platform VoIP solution for consumers developed by Viber Media Inc. It was first introduced to iOS in December 2010. Since then they have been increasing support for other smartphone platforms such as Android, Windows Phone, BlackBerry, Nokia Symbian and Samsung Bada. Their app does not cost anything but the initial registration requires a SMS to be send for validating your phone number.

What’s new?

On May 7, 2013 Viber released software clients for Windows and Mac. So you are able to install the application on your computer or notebook and register with your phone number to synchronise contacts. When you are logged in with both your smartphone and a desktop client at the same time you can move any active call to the other device.

Features

So what value does it add to your unified communications environment? Here are some of the new (and some old) features that might come in handy:

Positioning

The Viber solution is clearly positioned in the consumer market and gained wide popularity among users in that category. So far I have not come across enterprises utilising Viber as part of their unified communications strategy. If you are using Viber for professional purposes please feel invited to share your experiences in the comment section below.

Competition

As the Facebook Chat app is currently tested for possible VoIP features and beta tested, Viber seeks to increase their solution portfolio to maintain market share and this release seems to be the result of that. Other in-direct competitors of consumer-based unified communication tools are solutions such as WhatsApp for instant messaging and Skype for video conferencing.

Possible Business Usage

If you and your social network connections list their smartphone number along with the social profile, and install the apps of such on their smartphone they will see each other on Viber. Being completely synchronised  they will be able to communicate via VoIP, video conference or instant message beyond their enterprises unified communications abilities. This should serve for non-critical communication only though, as consumer solutions might not be sufficient to match your organisations IT security policies.


The Viber Desktop Introduction Video

[youtube=http://www.youtube.com/watch?v=NEqS5W-KfRw]

How your Company can save Money by setting up Home Offices

Home-Office – Flexibility and Cost-Savings

In the last years flexible working time and virtual collaboration became more and more popular and relevant in many companies. An important aspect here is the “home office”. Especially for modern people the home office has been a tempting feature and often settles a decision on what company they should work for. Beside the high amount of free working procedures, there is also a financial aspect to working from home for employees. This could be for instance saving the costs for commuting to the office and back every day.

But what is the organisation’s opinion on home offices?

There are often concerns that the flexible environment might lead to the loss of control for the organisation. Also a potential problem would be that the productivity and the team work would not be optimal being apart from each other. On the other side the organisation could save a lot of costs for office space, office equipment and furniture as well as the charges that are spent on incidental expenses would not be required. That means using home offices your organisation could quickly save several hundred dollars per employee every month. But the most important subject next to leading and managing a virtual team is to provide the right technical infrastructure and collaboration solutions to the employees.

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The key for achieving this is Unified Communications. With the aid of tailor-made tools the employees are provided with a complete range of tools to communicate and collaborate. With the “Presence” function everyone in the team is enabled to understand the current status of a team member. This will point out whether a colleague is “Available” and can be contacted or if they are “In a meeting”, “Busy” or even “On leave”. In a glimpse you will be able to understand the overall status of your team and possibly even other teams. So you know if it makes sense to call your team member or if you should better drop an instant message or email to get a fast response.

New ways of Communication

In order to work efficiently together in a virtual team that is physically separated modern ways of communication can enable an almost immersive experience of team working. For instance you could start an instant message session with one team member or a group of users, or quickly turn the chat session into a video conference with the possibility to share content on your screen among the video conference participants. You can quickly send an email with either formal content or just a quick update of the latest file that has been worked on. It goes without mentioning that of course you can just make a classic phone call as well.

Did we make you curious?

If you are considering the implementation of home offices for your employees you should capture the expectations of team during the project to make sure you are aware of all the requirements. After that is done you can take this information into the technical planning and design of a home office solution in your organisation. Every organisation and even each department within the organisation might have different requirements to be able to work from home. Missing these requirements out did often lead to such an initiative not working out in the end in some cases. The big advantage of Unified Communication solutions is however to have lower total cost of ownership and to receive a well structured support model for service providers and manufacturing companies.

Summary

With good planning and analysis of requirements, home offices can be a great benefit for employees as well as for the organisation itself  and might put you one step ahead of your competition.