Australia

Details

  • Industry: Financial Services, Banking
  • Type: Business and industry issue
  • Date: 5/03/2013

Retail Banking Video Advice: What does the future hold? 

Real-time, interactive video represents a powerful advice channel when dealing with customers. Banks and other financial institutions have an important decision to make: are Australian banking customers ready to embrace this channel? Banks are considering a range of ways to leverage video to meet the needs of key customer segments including small business banking, financial planning and merchant services.

There are many ways banks can utilise video to deliver value for clients including education, telepresence and facilitation of financial results.

 

KPMG provides analysis and insight on the uptake of video conferencing in retail banking.

 

Key insights

  • Customers will access interactive video advice within branches, or directly via their own video-enabled devices.
  • Small businesses and consumers are increasingly using their desktops PCs, laptops, smartphones and tablets to access interactive video.
  • Banks accept that real, physical face-to-face contact remains the best way to convey information and make a sale.
  • However, banks are beginning to understand the digital alternative offers its own advantages.
  • The main challenge for banks is how they will adapt their operating model to leverage video in a more compelling way for the customer.
 

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KPMG’s Banking practice in Australia is well placed to help clients successfully navigate challenging times and capitalise on opportunities.