In the ever-changing world of finance, bankers rely on agility and up-to-date information to provide the best service to their clients. With branches that oftentimes span time zones, state lines and even countries, connecting bank employees with the right information at the moment they need it can be difficult.
On many levels, video is an ideal medium for creating and communicating timely information to a large number of people. Video is easily digestible -- the combination of moving images and audio enables content creators to clearly communicate complex ideas in a relatively short amount of time. A single video file ensures that all viewers are receiving the exact same information from the exact same source, cutting down on inconsistencies in execution. Most of all, video is engaging. It holds viewers' attention, creating face-to-face connections without the need for travel investments or lengthy meetings.
Up till now, however, many solutions for video in the enterprise have not been adequate. Security is paramount in the finance industry, and many organizations have struggled to deliver video to a dispersed group of viewers while maintaining adequate security to keep sensitive information safe. The best enterprise video platforms address these issues by employing security measures like SSO (single sign-on), LDAP (lightweight directory access protocol) and SAML (security assertion markup language) authentication protocols. By coupling these with robust delivery infrastructure and leveraging offsite CDNs (content delivery networks) and edge devices, organizations can communicate securely and reliably with all of their distributed branches.
With these elements in place, banks can deploy video in a wide array of scenarios to extend the brains of their bankers. Here are five ways that video, coupled with a business video platform, can make bankers more knowledgeable and agile in their day-to-day interactions.
1. Up to date, on-demand information
Whether updating bankers on changing SEC regulations or informing them of the latest incentives and offerings, video is a perfect way to connect bankers with the information they need as soon as it becomes available. Changing financial regulations can often be complex and nuanced in their execution. Video provides a medium that is clear and concise as well as immediate. Creating, uploading and sharing video through end-to-end enterprise video solutions ensures swift and secure publication so bankers can stay informed wherever they are. A 30-second video can provide more insight than an email that takes an hour to write.
2. Executive webcasting
In a business like banking, numbers count -- but even more it's the insight behind the numbers that matter. Hearing the numbers from the Quarterly Review directly from an executive is a good way to inspire bankers, keep them focused on the overarching goals of their financial institution and make them feel connected to the senior leadership of the organization. Executive video webcasting streams these events, live, to any video-enabled PC or mobile device leveraging cloud CDNs and video edge devices to minimize stress on the network while maximizing video performance. Smart organizations can also record live webcasts and make them available on-demand for employees who are unable to watch the live stream.
Mobile technology has become an integral part of our daily lives. According to Forrester Research Inc., over half of global information workers already use their personal mobile device for work purposes, and that number is set to continue to rise. Mobile access is especially important for bankers who need to stay appraised of the most current information to provide the best service to their clients. Whether through native apps, in-house apps built from SDKs (software development kits) or a responsive HTML5 interface, bankers can keep up with the latest news, watch archived or live streamed webcasts and watch presentations from anywhere. Bankers can catch up on their commute in to work so they are prepared for their day or watch executive webcasts from their tablets after hours to ensure they don't miss crucial information that helps them to do their jobs.
4. Knowledge and wisdom transfer
It used to be the case that when a banker with 30 years of experience retired or moved elsewhere in the organization, they took all of the knowledge they had accrued with them. With Employee Generated Content (EGC) departing bankers can create engaging videos containing a wealth of knowledge that takes years to develop and pass that knowledge on to incoming bankers. In this way, banks can leverage the sum of banking insight developed at all of their branches over the lifetime of their institution and help new hires onboard quicker and work more intelligently from day one.
5. Client-facing informational videos
Extending the brain of your banker is not just about input, but also about extending the reach of your banker's knowledge. Bankers can create an on-demand library of client-facing investing, tax, retirement and estate-planning videos that can address simple questions that clients might have without having to meet with the banker in person, thus giving the banker more time and mental capacity to focus on other issues. Bankers can also create specific videos targeted at giving advice or insight to particular clients to suit their individual needs.
Video is a powerful tool. With a secure, robust enterprise video platform, banks can deliver the power of video communication to everyone across their network. From executive communications to immediate updates, from client-facing knowledge extension to creating a solid knowledge base for present and future employees, video extends the brain of your banker in every direction.
Vern Hanzlik is executive vice president and general manager of Qumu. He has spent the past 20 years building and growing enterprise software and service companies such as TEAM Informatics, Stellent and Sajan Software before joining Qumu in 2012.
[The growing importance of video and mobile is transforming banks' omnichannel strategies. Hear how this is playing out at BS&T's Mobile Disruption Forum, Weds., May 14, The Westin New York at Times Square, NYC.]