Future-Proofing Client Communications in Finance: The Value of Video Conferencing in a Digital World

Financial Services

In an increasingly digital world, it is essential for businesses of all natures to embrace video conferencing technology. In the short term, such communication equipment will ensure that internal and external processes can be met.

In the longer term, the value of video conferencing centres around future-proofing. One such facet of future-proofing pertains to the business itself and remaining competitive in the long run. Another facet encompasses client communications.

By laying the platform to communicate efficiently and securely with clients, video conferencing ensures that all correspondence can be meaningful. Something that is increasingly important in the digital age where digitalisation and convenience reign supreme for consumers.

Importantly, in the face of industry shifts towards more hybrid working arrangements, digital communication doubles as a way to bridge the gap. Offering a level of adaptability while also ensuring that both client and inter-departmental interactions remain efficient and effective.

This ability to not only recognise, but also cater to industry shifts and changing consumer demands means that the empowered consumer remains loyal to your finance institution. This is important as loyalty is essential to enjoying both short term and sustained success.

The benefits of video conferencing in finance and banking

When it comes to adopting video conferencing in a finance or banking institution, there are many different benefits to be enjoyed. Additionally, it’s also worth noting that these benefits can be enjoyed by both company personnel and clients.

However, it’s important to note that at the heart of these benefits is a direct link to improved client communications. Something that is essential in order to remain viable in an increasingly competitive business landscape.

A platform for meaningful communication

Thanks to changing workplace trends, it can be difficult to communicate and meet with workers. With hybrid working arrangements, one day a colleague could be in the office, the next day, they may be working remotely.

While some points of communication can wait, there may be times when time pressures are present. Rather than watching deadlines pass or working on instinct, video conferencing allows for face-to-face, real-time communication.

As both a platform for communication and collaboration, video conferencing ensures that all employees remain connected, no matter their working arrangement. This kind of seamless connection ensures that workplace efficiencies remain high. 

Importantly, this kind of digitised communication can also positively impact clients. On one hand, a united workforce means that customers are receiving consistent and high quality services.

Additionally, such communication channels can also be utilised by clients. This means there is an ability for clients to communicate with their bank or finance professional from the comfort of their own device and location. 

As many aspects of daily life are digitised, this level of convenience in banking is highly looked upon by consumers. Highlighting how video conferencing helps future-proof client communications for finance professionals. 

Security remains at the fore 

When dealing with finances, security is paramount. With this in mind, video conferencing software takes into account the highly sensitive nature of financial information through the employment of end-to-end encryption. 

Put simply, end-to-end encryption is a specific type of encryption that secures data being transmitted in a video conferencing setting. This ensures secure communications. Whether clients are being spoken to directly or whether information is being discussed internally. 

There are also additional safeguarding measures that individuals can take. For example, video conferencing software features actions such as meeting lock, mute and password protection. All of which are designed to ensure that the meeting is attended by relevant parties rather than outside actors. 

Improved organisational efficiencies

Installing video conferencing technology provides the framework for increased efficiencies. The ability to launch instantaneous meetings means that productivity is improved. Employee’s time is better distributed. Further, travel costs are essentially nonexistent. 

All of these different facets amount to organisational efficiencies. Largely because, in the absence of travelling, time during the working day can actually be spent working, rather than travelling interstate or driving to a meeting in another office.

This digital environment means that workers can engage in meetings more meaningfully. By not having to worry about missing a plane or being stuck in traffic, meetings start on time and feel more productive. 

In the workplace, this amounts to increased worker productivity. Externally, this leads to improved client communications. By showing a willingness to meet with clients on their own terms, client satisfaction improves and therefore, future-proofing comes into play.

It’s also important to note that reducing the need for in-person meetings will also contribute to creating a more secure and private environment for financial interactions. This is because, when communicating through video conferencing software, there are safeguards in place.

Conversely, when communicating in person, there is a distinct lack of safeguards in place when it comes to privacy. This could contribute to clients feeling uncomfortable or even unproductive interactions.

Strengthen company culture

Another benefit of embracing video conferencing solutions is its ability to strengthen company culture. Fostering connection, communication and collaboration, video conferencing aids in the creation of a unified workforce.

For the financial institution, this means a thriving company culture and an enterprise where retention levels are high and top talent can easily be attracted. There are also external benefits to consider.

When dealing with a company where morale is high, interactions between clients and employees will be seamless and positive. This in turn leads to improved client communications and relationships.

The value of video conferencing in the modern workplace

Video conferencing software and equipment is being embraced by companies around the world, no matter their industry. In the beginning, video conferencing was seen as a short term method. Essentially, it was a temporary way to connect staff.

However, such widespread adoption has highlighted the numerous inherent benefits of video conferencing technology. As such, video conferencing is no longer a short term solution but rather a long term business operating technique.

This is largely because video conferencing, while laying a platform for connection, has proven valuable to virtually every facet of business. In terms of internal processes, productivity is improved and money and time spent on travel can be better reallocated.

However, the most integral benefits lie in the changes to client communications. Facilitating face-to-face and real-time interactions, there are no barriers to external communication. This means that finance customers are receiving more efficient and effective services.

As such, there is a level of future-proofing that comes into effect. By providing customers with modern services, finance professionals are making it easier for customers to show loyalty. This helps to ensure a level of future-proofing in regards to remaining competitive and viable.

Additionally, communication itself is future-proofed. With dedicated channels in place to communicate internally and externally without barriers, finance professionals can launch an interactive and impactful experience at the touch of a button. Both today and into the future.