Diaspora Banking Services With Video Banking Solution

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Diaspora Banking is a service offering designed by commercial Banks in Nigerian to offer banking services to Customers who do not reside in the country. This service allows Nigerians living and working outside the country to maintain transactional accounts and perform domestic and foreign transfers through their accounts with their Banks and It also offers them provides top of the range investment opportunities even as non-resident Nigerians.

Are you a financial institution looking to redefine your Diaspora Banking services? Your search ends here! Scimitar Global Services Limited, a pioneer in customer relationship management technology, brings you an innovative solution tailored for banks and financial institutions aiming to serve non-resident Nigerians with unparalleled excellence.

SGSL Video Banking Solution emerges as a transformative force, connecting non-resident Nigerians to their homeland’s financial landscape.

Here’s why it’s the perfect match for your Banking institution:

  1. Offers Convenient banking with Ease of Use and at No cost to Customer: Our Video banking is very easy to use and gives serves as a comfortable and interactive video support channel for your banking customers who use your online Banking channels like your Website, Mobile App, ATMs, and the Contact Center.  With a click to Call Feature from your website
  2. Has Omnichannel Access: Our Video Banking solutions transition a voice, chat, and web-page interaction into true Omni-channel experiences at no cost to the end customer. This experience is easily accessible from one of the following scenarios: web-chat escalation of video, voice escalation to video, and click-to-video chat from a webpage or mobile applications. it can be extended via ATMs and Kiosk to create consistent messaging and a personalized customer journey irrespective of your location.
  3. Accessible all Data Enable devices -Mobile Banking: Our Video banking can be accessed via your Banks’ Mobile app with good banking experience
  4. Effortless KYC Compliance:     Simplify the KYC process through secure virtual interactions, eradicating the need for lengthy paperwork and time-consuming processes.
  5. Streamlined Onboarding:   Our Video Banking Solution ensures a guided and swift process, erasing geographical barriers to help you elevate the onboarding experience for non-resident Nigerians.
  6. Advanced Verification:    Unlike video conferencing application, Our Video banking solution offers guaranteed security through cutting-edge encryption and authentication methods, building trust while safeguarding sensitive information of your customer. It is designed strictly for banking.
  7. Global Reach, Local Touch:  Our Video Banking Solution bridges distances, enabling non-resident Nigerians to access personalized banking services from any corner of the world.
  8. Tailored Customer Support:   With a secured Face-to-face virtual interaction powered by our video banking solution for diaspora banking, your bank maintains a personal touch to customer support, from financial advice to query resolutions, empowering your clients with expert guidance and trust.
  9. Convenience Across Time Zones:    Depending on how you want to run your Diaspora Banking services, our Video Banking Solution ensures round-the-clock services, regardless of location; accommodates varying time zones!
  10. Omnichannel contact center design: Our Video Banking solution comes with omnichannel contact center features with an IVR, Voice/Video option (VoIP), Video on hold, Skill based routing as well as supervisors’ barge/monitoring and reporting features.

As a Bank in Nigeria, we are sure you have Diaspora Services running, would you want to add a human touch for a face-to-face video interaction just like the customer walking into your branch.  Ready to embark on a journey of innovation? Request a demo from Scimitar Global Services Limited and experience firsthand how our technology can reshape your institution’s Diaspora Banking services, enhancing customer engagement and operational efficiency.

Why Partner with Scimitar Global Services Limited for your Diaspora Banking Service?  

At SGSL, we understand the unique needs of financial institutions catering to non-resident Nigerians. we were the first to successfully deploy and seamless working solution with GTBank in 2018 and since then they have been offering Video Banking Service allowing their customers to video-chat with a customer service representative in real time and giving them the same GTBank in-branch experience of seamless banking, no matter where they are in the world.  This is with assurances that their conversations using GTBank Video Banking are private and secured by end-to-end encryption, providing them with the same level of security that they would receive on any of our other platforms.

So partner with us along with your Diaspora Banking team for a roadmap into a future where banking knows no borders and convenience knows no limits.

Click here to Book A Demo or Contact us at info@scimitargsl.com to learn more about our Video Banking Solution and its transformative potential. Embrace the power of innovation today!

 

#VideoBanking #DiasporaBanking #Innovation #FinancialInstitutions #CustomerEngagement #GlobalConnectivity #RequestDemo

How Video Banking Can Add Value To Your Banking Business Processes

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How Video Banking Can Add Value To Your Banking Business Processes

With Banks and Banking Consumers already using various video conferencing and chats services all over the world in their daily lives; a survey of over 4,000 consumers found that most are eager to adopt video banking if Banks will add it to their available Banking channels irrespective of their age, gender, social class, or working status.

On the other Hand, across the globe, financial institution who have adopted Video engagement has in a Video report indicated that video Banking helped them enhance their service and increase customer satisfaction and loyalty while growing revenue and driving productivity gains. That’s why so many institutions are planning to follow the same path.


“We use video banking in branches across the U.S. where we have small to no staff. It allows us to have a presence and still serve our members where the concentration of SEG employees doesn’t warrant a full-service branch. We also use it in our digital platform on mobile and desktop applications.” – Carey Price, SVP and Chief Retail Officer, BCU

Video Banking as you can see above can add value to the many business processes of a Bank, but leaders of Banks need to identify them all to draw up a comprehensive business case that applies to their Bank based on their vision and mission. This will require strategy consultation with your internal stakeholders to gather and understand their needs and challenges, and to match the values will outline soon that video banking can contribute throughout the organization.

You’ll likely start with only a few use cases, but having a broad understanding of the potential benefits will help you build a more solid business case and design a service that not only delivers on the initial needs but can also scale to meet future requirements. That Said we will be sharing the values to Banking here but we have a robust guideline on HOW IMPLEMENT VIDEO BANKING FOR YOUR BANK which we can share with you on request here.

Below are some typical business benefits of video banking. Management of Banks are expected to consider how relevant they are for you and explore them and others that may be more specific to your organization:

  1. Higher Net Promoter Score in the Banking Industry
  2. Greater customer/member satisfaction
  3. Increased customer/member acquisition
  4. Increased Customer loyalty
  5. Increased up-selling and cross-selling opportunities
  6. Shorter average in-branch wait time
  7. Increased first visit resolution rate
  8. Higher number of products per customer/member
  9. Shorter average handling time due to visuals
  10. Increased first call resolution rate
  11. Reduced abandonment rate on the channels
  12. Lower contact center agent turnover as agents enjoy working with Video banking
  13. Increased share of Market even beyond our Shore; Have you heard of Diaspora Banking?
  14. Increased sales closure rate
  15. Shorter sales cycle

One of our customers, a leading deposit money bank in Nigeria is currently using Video Banking for their Diaspora Banking and I can tell you for free the benefits is beyond imagination in terms of their return on investments.

Overall, Video Banking has proven to be a catalyst for remote banking and financial inclusion, benefiting both customers and banks. With enhanced accessibility, personalized interactions, and streamlined processes, customers are empowered with convenient banking experiences. At the same time, banks like Barclays Bank, IndusInd Bank, and GTbank have witnessed tangible ROI, improved operational efficiency, and strengthened customer loyalty.

As we continue to witness the digital transformation of the banking industry, Video Banking stands as a shining example of innovation that ensures financial services are accessible to all.

Let’s embrace this technology and drive financial inclusion. Book A Demo to learn more Here

#VideoBanking #RemoteBanking #FinancialInclusion #ConvenientBanking #Innovation #ROI #BarclaysBank #IndusindBank #GTbank #DigitalTransformation

VIDEO BANKING AND VIDEO CONFERENCING, WHAT IS THE DIFFERENCE?

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THE DIFFERENCE BETWEEN VIDEO BANKING AND VIDEO CONFERENCING

“Is this not same service like Skype, Zoom or like Teams?” “We have been using them for meetings all this while, why can’t we use them to manage customers?”

These are some questions I have been asked in addition to rejections due to budget in the last 6 years that I have been pushing for adoption of Video Banking as one of the Omnichannel touchpoints to redesign Banking for the future and for financial inclusion.

My response is that those are video conferencing solutions or platforms that you can use for virtual meetings and team collaboration, but they not designed for Banking.  This seems to not have convinced most Bank C-level apart from two Banks in Nigeria that has our solution and using it for diaspora banking. I want to appreciate GTBank Plc, as the leader in use of Technology in Banking in Nigeria.

Even as Chief Innovations officers and CTO or even Customer Experience Group heads and leaders, you might get these questions from your CEOs, Executive team or board when you present your plans to improve your digital channels and improve customer experience. It is always about the cost and then… What’s the difference between video conferencing and video banking? Video banking is to expensive; Can’t we just use same Skype or Zoom to meet virtually with our retail customers with less or no overhead cost?

Video Banking Solution comes at a cost as it is an enterprise solution but when it comes to digital channels like this, cost savings shouldn’t be the only factor to consider. Security, Convenience, customer experience, compliance, and workflow designed with banking use case must be included in your Bank’s due diligence. The Return in investment outweighs the total cost of ownership.  On the other hand the SaaS model is always available as another option.

According to financial News London, confirmed reports have it that Bank of America, BNP Paribas, Citigroup, Deutsche Bank, JPMorgan, Standard Chartered and UBS advised their employees against using video conferencing tools for Banking purposes due to the noncompliance of these almost free Video conferencing tools.  As a Microsoft Partner and Indirect Cloud Solutions Provider, Even Microsoft teams which is secured and well accepted in Nigerian Banks today is not a Video banking Solution. We know the difference and capabilities of solutions we carry and will honestly can draw the line that for external meetings and Internal collaborations, use Microsoft Teams but when it comes to offering Omnichannel Banking Services for good customer experience and security, Use Kuber Video Banking from SGSL as it is designed solely for Banking and we leverage Microsoft Azure, Dynamics CRM , Microsoft 365 and Active directory to deliver the solution to ensure the full business value stays within our offering for customer satisfaction.

Oh I forgot, here are the two definitions from google search results:

“Video conferencing is an online technology that allows users in different locations to hold face-to-face meetings without having to move to a single location together”

“Video banking is a term used for performing banking transactions or professional banking consultations 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.”

So there is a big difference between Video conferencing and Video Banking when it comes to Banking as the latter is designed solely for Banks to foster and offer secured and convenient banking experience to customers especially in line with Banks omnichannel roadmap to reduce foot traffic to their normal brick and mortar services which has since been gulping resources in operational costs

Here are the diverse ways they differ:

SN VIDEO BANKING VIDEO CONFERENCING
1 Video Banking addresses the consumer side of collaboration and enables communication between businesses providing the ability to share educational information and provide a platform for business negotiations. Video conferencing platforms only enables communication between businesses provides the ability to share information and provide a platform for business negotiations but does not take care of the individual.
2 Video Banking does not require both parties to set a date and time to communicate. Customer can at any time access Video banking for a Face-to-Face Chat from a Banks website, kiosk or mobile app. So far there is someone available to speak with him from any Video enabled device. Video conferencing platforms require both parties to set a date and time to communicate, which creates service friction and customer dissatisfaction with missed appointments on both sides.
3 Video banking is very secured and has passed all ISO and Global standards for Banking. Ask for documentation for Kuber Video banking from SGSL. Our Video Banking solution has passed all compliance test required. Video conferencing and chat apps aren’t secure enough for banking transactions.

 

(You’ve probably heard the recent news about the iPhone FaceTime bug that allows users to eavesdrop on others before they even accept the call.)
4 Video Banking offers a secured face to Face engagement between your bank and your customers and cannot be hacked. Customer data and transaction are secured and protected from breach. Video conferencing platforms are insecure and can exposes the Banks to litigation for breach of trust which can bring bad publicity.
5 Video banking comes at a cost as it is an enterprise solution but when it comes to digital channels, cost savings isn’t the only factor to consider. Convenience, consumer experience, compliance, and workflow must be included in your Bank’s due diligence. Yes Video conferencing is almost free and cheaper to deploy and use but it applies to normal meetings and engagements for example as a vendor, we don’t have to physically be at the Bank IT office with the whole team of engineers.

We can work remote rather than for an in-person meeting.
6 Video Banking expands on the face-to-face digital communication by recreating an entire branch experience, with tellers, consumer service representatives, loan officers, and financial advisors. It will just like the customer is being serviced at the bank physically yet from the confines of his home of office. Video Conferencing allows for just normal face to face interactions for meetings.
7 Video Banking is custom built to meet the needs of banking consumer, with well-defined banking use cases supported by with banking workflows and processes for an optimized service delivery. Video Conferencing is built for conference calls, meetings and document shares.
8 Video banking usually supports the following Banking use cases

·       Document collection

·       Document signature

·       Screen sharing

·       Presentations

·       Co-browsing /URL sharing

·       OCR Data capture

·       Banking KYC

·       Account Opening

·       Standardized business workflows

·       Robust Reporting

·       Branch, web, and mobile deployments

·       After call surveys

 Video Conferencing usually supports the following Banking use cases

·       Document collection

·       Screen sharing

·       Presentations

 

 
9 A robust video banking app brings all your products and services together, which increases your staff efficiency and racks up sales for increase revenue. Video conferences is just for video calls and collaboration to improved employee performance
10 Video banking has contact center features and can be built into your call center queue; making it an on-demand and click to call for consumers, just the way retail banking channels should be. Access to banking without asking for licenses Video conferencing does not have contact center features and cannot be built into existing queues or business rules. Only Microsoft teams can run with its complementary solutions stack for a B2B. It does not give good customer experience to the retail customer.
11 Video conferencing cannot be integrated into your existing customer management processes, and it requires but the customer and the relationship manager to show up at a scheduled date and time. Most Video conferencing platforms are not designed for businesses to own and manage themselves and this requires that participants still show up at the same time
12 Video banking automatically records all Video engagements sessions which are spool able in called reports, Bank can produce logs and metrics to track performance and provide data to prove compliance to Banking regulations. While some of the Video conferencing platforms are now recording their sessions it is at the agreement of the users or customers.
13 Video banking apps are not cheap but compliant with security regulations that assures security of financial data of both Bank and its customers. Video Conferencing platforms like Skype, Zoom, What’s app, WebEx and FaceTime etc. are good and affordable platforms and user friendly.
14 Video Banking can be embedded as our API allows Banks to host their video calls directly in their mobile app or website – no need downloads of plug ins, no redirects, and no waste time. Video conferencing platforms have mobile clients you can download from App stores but with branded clients
15 Video Banking Supports WebRTC even on mobile Some Video conferencing support webRTC some require you must download a client

 

Even before the outbreak of Corona Virus aka Covid19, a few Banks or even Global financial institutions allowed Video conferencing for meetings, but they restricted themselves to a few approved secured platforms to ensure security of Bank’s information. As a Fintech Solutions provider, I remember having to visit Serval Bank HQs with my team for presentations and Demonstration of our Omnichannel Video Banking Solution and Contact center Solutions as conference calls were not preferred, except in very rare cases to bridge gaps which it was best for just meetings. GTBank Plc was the first Bank to trusted us and launched our Kuber Video Banking Solution for their Diaspora Banking services. Click here to test GTBank Video Banking.

But the pandemic came and shut us all out, drastically reducing in-branch and physical visits to businesses across the globe, now forcing financial institutions to consider leveraging digital alternatives both for meetings, support and for Banking.  Which is how the VCs took over the market as Banks had to rely on video conferencing solutions but now realizing that these platforms does meet the needs of both the bank and its customers in the long term as they come with challenges of low security and non-compliance.

Now we present the better way: Kuber Video Banking Solution from SGSL. A Secured and complaint Video Banking Solution for Banks embedded into your Bank’s website, Online Banking, Mobile Banking and even Kiosks, ATMs in your Galleries and any data enabled devices for a click to call feature that allows your bank to host secure video calls directly in their app or website – no downloads, no redirects, and no wasted time.

Take back control of your digital customer experiences with SGSL’s Kuber video banking solution and continue to build stronger customer relationships with trust especially with the revised operation hours in branches, Banks can make its touch points more proactive, relevant, and frequent.

Book a demo here!