How do you create excitement in your financial institution?

Perhaps you conduct a raffle in which members and employees can win cool prizes. Renovate your facilities to make them more attractive. Or introduce new technology that enhances your workflow and benefits your members and staff.

Diamond Credit Union took the new-technology route by implementing Vidyo solutions in all its branches to create a warmer, more personal, face-to-face experience between members and off-site lending specialists. By doing so, the eastern Pennsylvania institution not only saw significant results, but also infused the organization with an energy that is now shared by the staff and its 60,000 members.

From the first day that Diamond Credit Union deployed the in-branch Vidyo solution, management received memorable member feedback like, “Wow, that’s amazing!” and “Oh my God, that’s incredible!” Members participated in a common practice — applying for a loan or similar transaction — but in a very modern way. They stepped into a branch from their routine lives and emerged in the future. And it was awesome!

A great experience will have members sharing their stories with family and friends, who will then have Diamond on their mind when they consider joining a credit union. This is the contagious part. Video banking is cool, and generating great chatter about it will prove beneficial to Diamond in many ways. Here’s one: After just the first seven months of using Vidyo, Diamond Credit Union saw a 12 percent increase in the number of members who purchased debt-protection products. Because nothing else had changed, with no additional training for the sales team, management believes the increase was a direct result of delivering a personal experience to its members via video.

Though video banking has not yet been widely adopted, the results of Vidyo’s Video Banking Report 2018 show that consumers’ first video banking experience is compelling. In fact, according to the study, 90 percent of consumers who took part in an in-branch video banking session would be willing to use it again.

“We always strive for that amazing member experience, and Vidyo’s solution has helped create an environment of excitement — and excitement is contagious,” said Chelsea Fry, Diamond’s director of retail delivery. “With our staff able to share that with members, it brings the member experience to a whole new level.”

Additionally, work is more enjoyable and successful for the staff thanks to their ability to engage members in face-to-face sessions. Lending specialists can see members’ body language and facial expressions, giving them more insight into how the member is reacting to the information being offered. The specialists can now immediately address any issues, calming members’ anxieties and increasing the number of completed loan applications. This can’t be accomplished as effectively over a telephone.

Aside from member engagement, Diamond Credit Union uses Vidyo to enhance internal collaboration and training and to hold after-hours staff meetings online instead of having employees commute to the main branch. A happy, engaged staff makes the institution attractive to talented future job candidates.

So if you’re pondering ways to generate excitement for your financial institution, you might want to consider video technology. A virtual solution can not only result in higher revenue, but its myriad other benefits can lead to even greater loyalty from your members and staff.

Download the full version of Vidyo’s Video Banking Report 2018.

Virtual Banking's 7 Critical Steps

About Vidyo, Inc.

Vidyo enriches people's lives by embedding real-time video into digital communications in the moments that matter most. Millions of people around the world connect visually every day through Vidyo’s secure, scalable technology and cloud-based services. Its patented platform integrates with virtually any application environment, network, and device to deliver the highest quality experiences that strengthen teams, build trust, solidify relationships, and improve quality of life for everyone. Learn more at www.vidyo.com, read our blog, or follow us on Twitter at @vidyo, on LinkedIn, and on Facebook.

###

The VIDYO logo is a registered trademark of Vidyo, Inc., VIDYO and the trademarks of the VIDYO family of products are trademarks of Vidyo, Inc., and the other trademarks referenced herein are the property of their respective owners.

Many of the products and features described herein remain in varying stages of development and will be offered on a when-and-if available basis. The product plans, specifications, and descriptions are provided for information only and are subject to change without notice, and are provided without warranty of any kind, express or implied. Vidyo reserves the right to modify future product plans at any time.

Contact:
Keri Bertolino
fama PR
vidyo@famapr.com
617-986-5007