Featured Article from Conferencing

BCU Turns to Conferencing for Remote Services

July 05, 2017

It’s an established fact at this point that video conferencing is transforming the ways in which various industries function. From operating rooms to court rooms, having the ability to speak with people who aren’t physically in the same location is proving to have immense benefits. This tactic is now being applied to banking thanks to Vidyo, which is helping Baxter Credit Union (BCU) launch video-only branches.

Vidyo, a provider of video collaboration solutions, announced today that BCU has deployed a video banking service using Vidyo’s cloud-based video collaboration technology. The goal of this deployment is to launch numerous video-only branches by the end of 2017.

The purpose of these video-only branches is to provide better access to BCU’s members, as more than 65 percent of BCU members are not located near a branch. Using Vidyo’s solutions, BCU members will be able to use video to remotely connect face-to-face with credit union representatives and knowledge experts, no matter where they are or what device they’re using. So, whether a member is at home, on a mobile device or in-branch, they should have improved self-service and a better overall experience.

“We are excited to offer a video service to our far-reaching member base so that they can easily connect with our knowledge experts face-to-face, from wherever they happen to be, recreating the in-branch experience remotely with exceptional quality,” said BCU SVP and Chief Retail Officer Carey Price. “With our mobile-first mindset, we looked for a simple-to-use video platform that would run across mobile and desktop applications and varying network connections - which made Vidyo the right fit for BCU.”

Video-only branches are becoming more and more common. A few months ago, Bank of America announced that it will be implementing robo-branches across the U.S., and now BCU is doing the same. The ease in which these banks are able to introduce video-only branches is thanks in large part to the acceptance of video conferencing as a reliable and effective tool. “Video collaboration is rapidly gaining traction among credit unions across the US as a capability that both reduces branch costs while increasing member engagement and satisfaction,” said Vidyo CEO Eran Westman. “We are thrilled that BCU is using Vidyo to create a differentiated experience and keep the human element in digital engagement.”

Edited by Maurice Nagle