The number seven is typically a lucky number, but when you’re implementing a video banking rollout strategy for your business, you need expert guidance more than luck. Vidyo’s new guide, How to Implement Video Banking, lays out the seven stages that will build a healthy foundation for your video banking rollout strategy.
Here’s a summary of each of those stages:
Establish the business case. Though you may begin with just a few use cases, show how many lines of businesses throughout your organization can benefit from video banking, including video-enabled branches and private banking. Identify the outcomes you expect from those use cases, such as higher Net Promoter Scores and increased up-selling and cross-selling.
Assemble the right team. Build a dynamic team with representatives from all departments — finance, IT, and others — and be sure they each know their respective responsibilities. Get them involved early for better alignment throughout the organization.
Define the specifications. It’s important to clearly document the ways you expect video banking to be offered and how you expect it to be integrated into your environment, from regulatory compliance to your existing IT infrastructure. This will also include which employees will use the technology and your vision for a user’s journey in each use case.
Secure the resources and budget. The resources will cover everything from the video vendor to workspace design for creating a comfortable video banking environment for employees and customers. The budget is simply the “show me the money” time. By implementing the previous stages, you’ll have a solid business plan to confidently pitch to senior leadership to get approval on a workable budget.
Build the implementation plan. Start small and grow. Identify what are true must-haves versus the nice-to-haves. This will help you create a strong foundation on which to build as demand grows and as you deem necessary.
Roll out the service. It’s showtime! Be prepared to assist staff and customers as much as needed, be open to making adjustments as necessary, and share all achievements internally to demonstrate how video banking is working effectively and tout its benefits.
Measure, improve, and expand. Monitor your KPIs and check that the video service is meeting your goals. Also, gather feedback from customers and staff to help keep your success ratings high. Finally, use the energy from your achievements to expand into other use cases and watch your video banking program really flourish.
Get your copy of Vidyo’s new guide, How to Implement Video Banking, for more details on each of the seven stages as well as additional tips and recommendations for a successful video banking rollout.