Information Sysems
1. Use of Video Conferencing to gain competitive advantage in New Bank
New bank can make use of video technology to connect customers with the right experts in a short span of time to provide quick and personalized service on-demand. Most banks worldwide are in a nascent stage of using video to carry on various businesses with their customers remotely; hence New Bank can take advantage of this. Through video-enabled web conferencing or branch office video conferencing the bank can conduct high risk, high return businesses of discussing purchase and sell of stock, selling mortgages, structuring investment portfolios and advising on loans. Advantages of adopting video conferencing in New Bank (Drivers) * Optimization of the cost/Income ratio
Cost income ratio is the standard benchmark of bank efficiency. In some cases, bank balance sheets and cost income/ratio are in an unhealthy state such that reducing cost whilst increasing revenues becomes critical. In this regard, video banking will help in reducing cost/income by decreasing branch banking headcount and improving revenues effectively. * Integration of disparate business processes
Video technology paves way to integrate the disparate processes in the enterprise and bring synergies between business teams across geographies. * Real-time remote access
Video conferencing enables real-time access to expert bankers located remotely. This then improves the quality of interoffice interactions. * Value to customers
Video technology implemented in retail branches can provide high value product information to customers. This decreases turnaround times for closure of customer queries. * Enhancement of branch banking interactions
Video conferencing allows expansion of video across branch networks helps information dissemination and cross selling. * Visual Connect
Video conferencing is used to connect customers with product experts when selling higher margin products. This then allows wealth management
New bank can make use of video technology to connect customers with the right experts in a short span of time to provide quick and personalized service on-demand. Most banks worldwide are in a nascent stage of using video to carry on various businesses with their customers remotely; hence New Bank can take advantage of this. Through video-enabled web conferencing or branch office video conferencing the bank can conduct high risk, high return businesses of discussing purchase and sell of stock, selling mortgages, structuring investment portfolios and advising on loans. Advantages of adopting video conferencing in New Bank (Drivers) * Optimization of the cost/Income ratio
Cost income ratio is the standard benchmark of bank efficiency. In some cases, bank balance sheets and cost income/ratio are in an unhealthy state such that reducing cost whilst increasing revenues becomes critical. In this regard, video banking will help in reducing cost/income by decreasing branch banking headcount and improving revenues effectively. * Integration of disparate business processes
Video technology paves way to integrate the disparate processes in the enterprise and bring synergies between business teams across geographies. * Real-time remote access
Video conferencing enables real-time access to expert bankers located remotely. This then improves the quality of interoffice interactions. * Value to customers
Video technology implemented in retail branches can provide high value product information to customers. This decreases turnaround times for closure of customer queries. * Enhancement of branch banking interactions
Video conferencing allows expansion of video across branch networks helps information dissemination and cross selling. * Visual Connect
Video conferencing is used to connect customers with product experts when selling higher margin products. This then allows wealth management