Here’s how video banking supports financial services amid coronacrisis

The study focuses on 23 major global markets

video banking

Here’s how video banking supports financial services amid coronacrisis. Source: shutterstock.com

RBR conducted a report revealing that video banking technology is increasingly being adopted to extend banking services.

According to information, the leverage of video teller machines is increasing since institutions aim to expand customer access and cut costs. This is useful where full-service branches are not an option, owing to either geographical or cost considerations.

In addition to that, the study shows that thanks to video banking, financial institutions can provide teller services at self-service machines that are not available at traditional ATMs.

What is more, video ATMs can offer a level of privacy as well. For instance, Singapore’s DBS Bank deploys VTMs in soundproofed booths,  where customers can have their debit cards reissued, among other services.

In times of financial uncertainty combined with a need to avoid human contact, video banking technology offers banks the possibility to keep employees and customers safe, while continuing to provide financial services, as social distancing imperatives can be kept without losing the human element
Daniel Dawson, Associate at RBR

We’ve reported that SadaPay, Pakistani digital wallet, and Mastercard have announced a partnership to carry out faster and safer domestic and cross-border transactions.

SEE ALSO:

facebook