PeopleLink’s Visual Advantage for the Banking & Financial Vertical · 2019-11-18 · Banking & Financial Vertical . ... ATM SECURITY INTEGRATION WITH VISUAL COLLABORATION TO SECURE

Whitepaper | Banking, Financial, Security & Investments

PeopleLink’s Visual Advantage for the Banking & Financial Vertical

Introduction

Video conferencing is gradually emerging in the retail banking sector as a way to meet growing customer expectations and combating the decline in foot fall in branch locations. There are so many things customers can now do online that they don’t even need to go to a bank. Checking account balances, transferring money between accounts and even paying bills can be done with a few simple clicks on a bank’s website and now interacting with their relationship managers or Customer service teams visually.

Rapidly increasing consumer use of video communications solutions and improved, cost optimized technology has led to a new wave of interest from banks around the world in implementing the video channel as a means to offer customers better advice, and thus gain higher revenues at lower costs. Several use cases are being tested: for higher-value products, for complex queries, for main and rural branches, for “people-less” branches, for effective reach out strategies for financial Inclusion and even for home users across all customer demographics & segments. About PeopleLink

Founded in 2007, PeopleLink has emerged as India's first ISO 9001-2008 certified Video Conference Company. It has marked an exponential 108% growth Y-o-Y from the past 9 years. A pioneer of modern video technology, PeopleLink, after accomplishing its pan India coverage is now expanding its Global operations. Its range of offerings includes next generation Video technology and Audio Video peripherals across a wide range of focused industry verticals. PeopleLink offers the most robust customer / partner service in the Industry today. PeopleLink has a strong and agile partner network to connect with our esteemed partners across 25 countries globally.

For more information, please visit http://www.peoplelinkvc.com

PeopleLink technology is now a part of an academic curriculum of United States for their post-secondary students of Computers & Information Technology. PeopleLink features under Easier Collaborations for video, audio and data sharing with ease to the remote participants.

http://www.peoplelinkvc.com/

Subject Matter Specialist Availability

Availability of business advice for mortgage, broking, Investment, and complex service inquiries remotely by experts, is by far the most common use case for the financial Institutions; Remote advisers not only can reduce the amount of lost business, but also can enhance cross-selling, up-selling, and right-selling due to a higher average level of expertise, along with the potential to ensure a better “fit” between customer and the opted service. Private / Public banks and wealth management firms are looking to use remote expert availability to make higher-end services and attention easily available, because of the low operating cost of such a business model. In the long run, the range of available expertise could extend to non-financial services products offered by the bank or through third parties, thus potentially opening up new sources of revenue. “Green Initiative : for enhanced / maximum use of electronic payment systems, enhanced realisation of the potential of CBS / CIS Networks and for pting in place effective and elaborate Video-Conferencing facilities for seemless communication between the controlling offices and field offices on the one side and between the branches / offices and the customers or other authorities on the other side - e-Governance.” – Reserve Bank of India (Circular No. 4/2011)

TRAINING ROOM WITH THE TRAINER (INTEGRATION WITH 3RD PARTY AV PERIPHERALS LIKE PROJECTORS, CAMERA & EXTERNAL AUDIO DEVICES)

TRAINER CAN BE ENABLED WITH VISUALISER & INTERACTIVE TABLET

MONITOR FOR ENHANSING THE TEACHING EXPERIENCE

BRANCH 1

MULTI-DEPARTMENT VIRTUAL INDUCTION TRAINING WITH SUBJECT MATTER EXPERT

This Diagram is to represent a possible solution / scenario. Images used do not signify any particular partnership and are purely for a concept representation purpose.

‘n’ PORT MCU

BRANCH 2

BRANCH 3

BRANCH 4

BRANCH ‘n’

Virtual availability of experts also offer “green” benef its such as reduced carbon emissions from having to travel less between bank branches—resulting in reduced travel costs. This judicial utilization of travel optimization shall help the banks in consolidating their expert availability to the users as well who would wish to interact from the comfort of their homes.

VirtualTrainings Using vLMS The need of the hour is technologically trained manpower. Therefore training in the Banks & financial Inst itutions is a pro-active and continuous process and an integral part of organisational development. It aims at imparting knowledge, improving skills and re-orienting attitude for individual growth and organisational effectiveness. Training programmes like Risk Management, Credit Management, Recovery Management, Internal Control Management, Human Resource Management, Marketing and Quality Improvement, Foreign Exchange, Information Technology. Special programmes are designed based on the recommendations of the Departments at Head Office and Corporate Office, taking into account the Corporate Goals, Policies, requirements, business plans and strategies, target group etc. can be conducted in branches with absolute ease. Using a Video Enabled LMS eases out organizational training process. It transforms virtual training sessions into a more interactive, self-paced learning platfroms. A face-to-face interaction with the trainer and easy query addressing initiates comprehensive understanding among employees. Reduces the cost involved and enhancing the reach and effectiveness of the training process.

“Training of staff in line with customer service orientation. Training in Technical areas of banking to the staff at delivery points. Adopting innovative ways of training / delivery ranging from job cards to roving faculty to video conferencing.” – Reserve Bank of India (Master Circular on Customer Service in Banks)

Training being conducted at the Central Venue for available candidates, while collaborating with the remote teams over

Video.

Remote Departments can access the training virtually from their home locations without

travelling to the venue of training.

Individual Users can access remote

trainings on Laptop or Mobile devices

VIRTUAL BANK TRAININGS & ORIENTATION SESSIONS

This Diagram is to represent a possible solution / scenario. Images used do not s ignify any particular partnership and are purely for a concept representation purpose.

Video Teller Machines ATMs with new versions that provide human interaction with a teller through video collaboration. Played over the ATM screen, bank customers can speak to a teller if they need to carry out advanced transactions like cashing a check or making a withdrawal in specific denominations. In addition, customers can withdraw money from their account if they left homewithout their ATM card or simply lost it. Basically, the customer places their driver’s license on a scanner attached to the ATM. After verification of the customer’s identity though video chat, they can use the ATM as if they had their bank card. In addition, the transaction speed is increased when compared to walking into the bank to speak with a teller. The machine can dispense the cash automatically and enter all check information without any interaction from the teller. Deposits can also be verified immediately and the customer can receive a credit to their account the same day rather than leaving it at the ATM and waiting for the bank to catch up the following day.

VISUALLY ENABLED TELLER MACHINES FOR BRANCHLES BANKING


Customer at Video enabled teller machine to interact with remote Customer service teams visually for advanced services & document verification.

Remote Customer Service agent connected remotely over a secure video link

Internal Multilocation Meeting In the wider banking market, video used for B2B interactions is only now being deployed as major telecommunications companies start offering B2B video and/or telepresence. Such services connect businesses to their partners and/or customers over a carrier’s network for remote meetings. Bank could offer its video-conferencing facilities to business customers with multiple locations so that they can conduct remote meetings from the bank’s branches in those areas. Such as approach is possible only if the solut ion is capable of operating in various different networks and at variable bandwidths as that shall offer the banks the option of reaching out to the remotest locations.

INTER BANK COLLABORATION FOR INTERNAL MEETINGS & POLICY MEETS WITH FINANCE MINISTRY


Policy Meetings with Finance Ministry

Corporate Head Office

Regional BranchesRural Branches

“It was envisaged that all PSBs, FIs and PSICs would, w.e.f. 1st September 2011, put in place effective and elaborate video-conferencing facilities for review of performance of branches and other field units, such as, Zones, Regions, Circles, etc. upto the district level, in such a way that at least one office / branch in the district is connected through such facilities, if such facilities do not already exist. Chief Executives are expected to use videoconference facilities with their field units for review of performance at least once in every fortnight. Further, these facilities should also be made available to the field units, customers and other constituents of the Institution to enable them communicate seamlessly with the controlling units and authorities. Similarly, the field units / branches / Lead District Managers’ offices should be enabled to be contacted / conference through these facilities by the authorities in the Government.” - Reserve Bank of India (Master Circular on Customer Service in Banks)

Integration with ATM surveillance ATMs pose a unique security challenge for you. Vandalism, attacks, robberies, and fraud are an everyday reality. Banks are working on vitalising their operations to keep people and property safe, and also on enhancing the user experience and lowering your own resource investments — both time and money. The real challenge that comes across is when the people with malicious motives are aware of the camera posit ion, which gives them the options of ducking & evading them, Banks can leverage collaboration tools which can support multiple camera feeds to have an option of two-way communication & attain the possibility of installing discrete cameras in the ATM chambers to assess such movements. Integration of specialized cameras can also be considered by the banking Institutes which may offer more sophisticated authorization mechanisms which can further integrate applications which may assist the control rooms to authorize, and also assess the intents of the users by analysing their acts, emotions and other non-verbal cues as part of human Kinetics. This Physical Security & Risk management is the most vital and need of the hour feature required by the banking Institut ions to offer a secure service & environment to their users & account holders. These provision of surveillance can also assist the banks with mapping customer patterns & behaviours for evaluating their Offerings & schemes.

ATM SECURITY INTEGRATION WITH VISUAL COLLABORATION TO SECURE & COLLABORATE


ATM Cam Concealed / Discrete Camera

Control Room to view the proceedings and multiple camera feeds from each ATM while having 2 – way Communication option

ATMs can be enabled with multiple cameras, like discrete wall camera to take view of the cabinet to check movement & gestures to assess intent.

Women centric Banking Infrastructure There is an evident growth in women centric Banking units with an init iative aimed at economically empowering millions of women across the country who do not have access to basic financial services such as bank accounts or loans. Access to a bank account is essential for women's economic empowerment as it provides a safe place to save money and opens up a channel to credit which can be used for investing in education, property or in a business. More than 1.3 billion women worldwide remain largely outside the formal financial system, according to the World Bank's Global Financial Inclusion (Global Findex) database. In regions such as South Asia, the Middle East and North Africa, it says, women are about 40 percent less likely than men to have a formal account.

“Access to Grievance Redressal Mechanism - Systems are in place to provide smooth access to grievance redressal mechanism for ATM related complaints. The grievance redressal procedure is displayed in the ATM premises. Banks have automated systems enabling registration of ATM related complaint at any branch / Call Centre by visit / call. The auto escalation of complaints is also enabled in these systems which facilitates speedy resolution of complaints.” – Reserve Bank of India (ATM Operations of Banks)

PEOPLELINK VIDEO ENABLEMENT OF KIOSKS FOR GRIEVENCE REDRESSAL & FINANCIAL ENABLEMENT OF WOMEN

This Diagram is to represent a possible Integration scenario. Images used do not s ignify any particular partnership and are purely for a concept representation purpose. Visual Collaboration for Financial Inclusion Having such initiatives implemented also enable the scope of Financial Inclusion projects by the Government. Pradhan Mantri Jan-Dhan Yojana (PMJDY) is a National Mission on Financial Inclusion encompassing an integrated approach to bring about comprehensive financial inclusion of all the households in the country. The plan envisages universal access to banking facilit ies with at least one basic banking account for every household, financial literacy, access to credit, insurance and pension facility. The plan also envisages channelling all Government benefits (from Centre / State / Local Body) to the beneficiaries accounts and pushing the Direct Benefits Transfer (DBT) scheme of the Union Government. The technological issues like poor connectivity, on-line transactions will be addressed. Mobile transactions through telecom operators and their established centres as Cash Out Points are also planned to be used for Financial Inclusion under the Scheme. Also an effort is being made to reach out to the youth of this country to participate in this Mission Mode Programme. Video Collaboration at Low bandwidths as supported by PeopleLink enables uninterrupted connectivity at low bandwidths to support the cause of Financial Inclusion projects. PeopleLink collaboration which is compatible with any form factor ensures connectivity from any device like mobile devices, PC consoles, Kiosks and Interactive ATMs.

BANKING FOR BANKLESS & INTEGRATION WITH FINANCIAL INCLUSION PROGRAMS


Public / Private Bank Customer care Executives to interact with Customers for enabling their Rural Services & Financial Inclusion schemes.

Rural Users for gaining more Financial Stability and having the option of availing banking facility with ease.

“Compulsory Requirement of Opening Branches in Un-banked Villages, banks are directed to allocate at least 25% of the total number of branches to be opened during the year in un-banked (Tier 5 and Tier 6) rural centres.” – Reserve Bank of India (Financial Inclusion in India – An Assessment)

Personal Banking The video branch allows customers to connect with a branch manager or a relationship manager for a one-to-one meeting. This shall enable the banks to offer a personalised communication channel for their customers & account holders.

PERSONAL BANKING WITH THE TOUCH & FLEXIBILITY OF VIRTUAL BANK VISITATIONS


Option of Ubiquitous video to connect with your relationship managers & wealth consultants any time over any device.

Team of Relationship Managers, Wealth Consultants and Investment Bankers can connect over Video Conference with their customers to explain various port-folio options.

Banking & Financial Inst itutions are now augmenting their reach by opting for Video banking which gives a much higher level of re-assurance to the account holders than any telephonic call, as opening innumerable branches to cater may not be the answer all the time. Banks are now optimising their operational costs by ut ilising video collaboration services to achieve the top trends of the banking sector namely, Drive-to-Digital concept, Branch Optimization, Focus on Customer, Simplifying Engagement and Improving Contextual Experiences of the customer by offering them the ease of connecting from any device and at any time over any network, still maintaining the security over an optimized bandwidth consumption. Personal banking for different demographics becomes easier with Video Collaboration, as the banks can now address various schemes for different age group customers without their need to travel to their nearest branches. Pension schemes for the elderly can be one of the many possibilities. The elderly may now connect without undergoing any discomfort of travelling and waiting in long queues.

Collaborating Banking, Financial, Securities & Insurance Offerings Banking & Financial Institutions with Brokerage & Insurance businesses often provision for the mis-selling claim scenarios, Mis-selling broadly means unfair or fraudulent practices in soliciting or selling policies not sought by a customer, or when a customer feels the policy sold to him is different from what was promised. In order to keep a check and drastically reduce such scenarios, Institutions are heading towards video connecting their sales managers with the specialists to discuss the policies, the remote specialist may record the process of sale and check if the customer understands what the product is and what the salesperson is telling him.

COLLABORATING THE BANKING, FINANCIAL, SECURITIES & INSURANCE SERVICES


Team of Port-folio Managers assisting the filed sales teams with the specifics of their offerings, and enabling them over a secure network, recording the conversation for future purposes.

Wealth Managers can engage their customers with specialists sitting at remote offices to explain the offerings. Sales teams can connect with experts over their tablet phones.

Visually enabled Board Meetings “Companies Act recognises and permits board meetings to be conducted via video conference” – Companies Act 2013. Video conferencing continues to find new uses as organizations discover innovative ways of putting remote collaboration to business use. Video conferencing is a major tool for enabling green practices for the business. By providing an effective and greener alternative to travelling, video conferencing helps businesses minimize their impact on the environment.

Shareholder Meetings, particularly AGMs, are not only a wonderful opportunity for shareholders to know the company from close quarters, but also a great platform for companies to share their ethos with shareholders as well as the world at large. By opening up your AGMs for participation through video conferencing, you reaffirm your organization's commitment to environment protection and also offer your shareholders in multiple cities an opportunity to be part of this important event.

VIDEO ENABLING THE BOARD MEETINGS, SHAREHOLDER MEETINGS & AGM


Board Meeting in progress with participation of remote members over the video link.

Remote member marking his virtual presence to the Meeting.

Remote Interview

Recruitment involves mult iple processes. There are multiple rounds before an employment happens. Video Conferencing acts as the best staffing

solution for Banking and Financial Institutions. Offshore candidates can be interviewed through video conferencing, completely negating the demographic constrain, widening the options for the recruiters also vitiat ing the transit cost for the candidate.

Video Call Center

Banks and Financial sectors involve complex wealth management services like mortgages, insurances and investments. Banking customers are no more satisfied with drive-along banking. Customer queries needs to meet a satisfactory answer before they choose any financial institute for assets and wealth management. A video enabled customer care makes customer interaction more personal and trustworthy. A face-to-face two ways communication with a banking staff inculcates comprehensive financial understanding among the customers, intensifying their loyalty towards the bank.

Video Enabled Kiosks The banking and f inancial sector’s dependence on interaction throughout its ecosystem has made it imperative to research channels to interact with the customers anytime and anywhere. Video Enabled Banking kiosks offers the customers a more convenient and interactive channel to carry out transactions. Banks and Financial institutes can claim to be more user-friendly by video enabling their kiosk to help customers in financial transactions like account opening, account maintenance, appointment booking, financial products research and purchase.

Virtual Manager for HNI Clients

HNI or High Net worth Individuals are distinguished from the other clients based on their total wealth, assets and investible surplus. Providing Virtual Managers is yet another way to grow financial relat ionship with HNI clients. HNI clients generally avoid in-branch banking, they prefer flexible and easy wealth management that can be done virtually. Assigning a virtual manager for HNI clients to provide assistance on banking issues like investments, tax saving is instrumental in attracting and retaining HNI clients regardless to their demographical locations.

Insta API

Insta API allows to assimilate interactive video conferencing with the existing banking apps and transform the same into a remote communication tool. The banking app with a video conferencing solution is more customer focused and reliable. The one-touch conferencing acts as the best customer helpdesk , recruitment solution for organizations in the BFSI vertical.

Digital Signage and Video Conferencing Banks too have marketing requirements. They need to reach out to their target market with their latest schemes and offering. An attractive digital signage provides the best option for Banks and financial inst itutes to broadcast their schemes to their customer. The two-way digital signage meets the advertising requirements simultaneously enabling remote communication staffs and customers when not utilized otherwise.

Conclusion Banking Institutions are now evolving out of the previous immature technology, spotty quality, and customers’ unfamiliarity with video phase, video enablement is here to stay as a means to scale expertise and increase revenue at a lower cost than ever before. Banking Institutions are looking out for solut ions which balance quality of experience, incremental revenues, and total cost of ownership. Some early adopters are applying lessons learned to gain a competitive advantage over rivals. Finally, such video enablement allows banks to think of remote branchless banking by having their teams interact with the customers remotely and virtually which can be optimized to serve customer segments, thereby helping the bank manage demand better and rationalize resources. In this sense, the video collaboration offers the opportunity to truly transform the entire banking & financial market.

Documents

PeopleLink’s Visual Advantage for the Banking & Financial Vertical · 2019-11-18 · Banking & Financial Vertical . ... ATM SECURITY INTEGRATION WITH VISUAL COLLABORATION TO SECURE