Omni-Channel: next generation technology = new revenue generation

As always, revenue generation is a top priority for financial services. The obstacles to meeting this goal, however, are greater than ever. Financial Services providers are under unprecedented pressures to:

• keep costs down
• find new revenue streams by offering new services
• discover ways to leverage technology that improves the way they deliver services so as to retain and reach more customers.

 That’s no small order, but there is an answer.

To meet these challenges, many institutions are developing future branch models that leverage people, processes and technology to drive new revenue. They’re doing this by creating a 3D video-based Omni-channel environment which can help offer a more consistent and integrated approach to delivering products and services to consumers across all channels.

This “next generation” branch transformation is expanding and integrating technology that enables virtual face-to-face meetings with high definition video, which allows a financial institution to centralize their subject matter experts and make them available to all branches.

Consider this. While mobile channels are growing and customers’ visits to branches are less frequent, branches still fulfill a critical role in new customer acquisition and cross-selling for more complex transactions like mortgages, business services and investments. Conducting these transactions via video enhances the financial institution’s ability to provide more services at a time that is most beneficial to the consumer. Through the integration of video into the branch’s infrastructure and other channels, financial services are able to support a customer’s needs with subject matter experts at much more cost-effective method while increasing sales and service. High-definition video, 3D imagining and video communication solutions are changing the landscape, and let customers meet virtually with real-live experts in an intimate, face-to-face exchange. It feels and looks as though your experts are sitting right across the desk from them!

This new technology, within self-service channels, allows financial services providers to transform their branch model, plus improve efficiencies and consumer experiences. Additionally, this technology allows other retail representatives to engage consumers on complex needs, cross-sell other services, and expand their reach beyond a teller platform to more advanced services. This winning, new revenue formula leverages next generation technology, and centralized platform of experts that connects products and services with more consumers when it’s most convenient for them and for you!

Robin Kolvek

SVP, Business Development

EPL, Inc.