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Video banking refers to banking transactions or professional banking consultations performed via a remote video connection. Video banking can be performed via purpose built banking transaction machines (similar to an automated teller machine), or via a videoconference enabled bank branch.
Types of video banking
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In-branch
editVideo banking can be conducted in a traditional banking branch.[1] This form of video banking replaces traditional banking tellers to a location outside of the main banking branch area, via the use of video and audio links. Customer use a purpose built machine in the branch to process viable medias such as cheques, cash, or coins.
Video banking can enable banks to expand the availability of banking consultations to branches that may not otherwise have staff with certain types of expertise.[2]
Non-branch vestibules
editVideo banking can be provided during non-traditional branch banking hours, up to 24 hours a day,[3] or in non-traditional banking locations such as grocery stores, office buildings, factories, or educational campuses.[4] The Indian bank IndusInd Bank, for example, launched a service called Video Branch which allows customers to conduct virtual face-to-face banking with bank branch managers or a central video branch from any location.[5][6]
References
edit- ^ Young (2009) "Metro Detroit among 1st in U.S. to get video banking", Metro Detroit Free Press.[dead link]
- ^ "Transforming Branch Banking: Real-Time Advice in the 21st Century". Bank Systems & Technology Digital Library. Tandberg. August 2005. Archived from the original on Sep 27, 2011.
- ^ "Coastal's new teller system increases branch traffic". CUNA News Now. May 11, 2009. Archived from the original on July 16, 2011.
- ^ "As A Recession Looms, Innovation Could Be Your Competitive Key" (PDF). The Blue Paper. Credit Union Center. November 2008. Archived from the original (PDF) on Feb 24, 2012.
- ^ "IndusInd Bank launches Video Branch service for customers". The Economic Times. Jun 2, 2014. Archived from the original on Mar 5, 2016.
- ^ Adhikari, Anand (2 June 2014). "IndusInd Bank launches video banking". Business Today. Archived from the original on May 12, 2023.