people link whitepaper visual collaboration for banks & financial institutes

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 combatingthe declinein 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 5 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 www.peoplelink.in

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.peoplelink.in/

Subject Matter Specialist Availability

Availability of business advice for mortgage, broking, Investment, and complex service inquiries

remotelyby 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‖ benefits 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.

Internal Trainings

The need of the hour is technologically trained manpower. Therefore training in the Banks &

financial Institutions 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.

“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 .

Visual connectivity at 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

Interbank Connectivity

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 solution 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

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.

Policy Meetings with Finance Ministry

Corporate Head Office

Regional Branches

Rural 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 position, 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 Institutions 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

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.

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 initiative 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-DhanYojana (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

facilities 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 Institutions 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 utilising video collaboration services to achieve the top

trends of the banking sector namely, Drive-to-Digital concept, Branch Optimization, Focus on

Customer, Simplifying Engagementand 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.

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 solutions 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 bankingby 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.

people link whitepaper visual collaboration for banks & financial institutes

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