Featured Article from Conferencing

No Tellers at Brazilian Bank Branch

December 19, 2017

FinTech has gone to a whole new level at Banpara Bank. The Brazilian business has opened a branch that’s entirely automated – with no on-site employees.

Instead, bank customers conduct their business via ATMs, interactive kiosks, and remote call agents. The Banpara Bank videoconferencing screens exhibit both the remote workers and promotional materials of bank offerings.

The secure videoconferencing solution in this ground-breaking endeavor is powered by TrueConf and Voxel Digital. TrueConf provides collaboration and conferencing solutions that can be employed on desktops and mobile phones, as well as in meeting rooms. These solutions are compatible with legacy H.323 and SIP equipment and support scalable video coding and intelligent stream manipulation. Vixel Digital is a hardware and software integration company out of Brazil.

According to IDC Financial Insights, disruptive technologies including cognitive, robotic process automation, and blockchain will be in use at half of all the world’s banks by 2020. If that plays out as expected, it will accelerate digital transformation by 30 percent, IDC says.

“While widespread adoption will be slow, in 2017 cognitive technologies will be deployed in 15 percent of banks, providing consumers with ‘voice banking’ on numerous devices,” IDC says. “Today, consumer experiences in financial services exist largely in separate and disconnected domains. Digital transformation will streamline the customer journey, allowing for it to begin and end on any device, in any channel, at any point.”

Meanwhile, McKinsey & Co. in a March article noted that the global banking industry is intensely focused on automation. “McKinsey sees a second wave of automation and AI emerging in the next few years, in which machines will do up to 10 to 25 percent of work across bank functions, increasing capacity and freeing employees to focus on higher-value tasks and projects,” the firm says.

Edited by Mandi Nowitz