Fintech & Banking

Virtual Branch

Virtual Reality (VR) technology allows users to find themselves in a simulated environment and interact with the space in real time. This technology opens unique dimensions for product and service presentation to catch your customers’ attention.

With organizations and customers alike adopting digital means of communication, VR can take your customer interactions to a whole new level. Already, banking and financial institutions are seeing lower branch traffic, with more customers opting for digital or phone banking. However, these channels of communication, while convenient, are devoid of the personal touch that customers have come to expect from their banks.

A virtual branch offers your customers the opportunity to virtually interact with you and your products/services the way they would in a physical branch, but from the comfort of their homes.

Easy, remote access 24x7: Your customers can now visit a simulation of your bank branch, using their everyday devices, at any time of the day, without leaving their homes. The virtual platform can support as many as 2000 users at a time and offers multiple avatar choices to pick from.

Personal meetings: The virtual platform allows for digital one-to-one meetings, so that you can give your customers personalized advice, take them through new offers and products they might be looking for, and onboard them for new services.

Digital presentations: The virtual branch can be custom-made to simulate your physical banking environment, complete with interactive screens and presentation rooms, so your customers can learn more about your organization, products, and services. Run promotional videos of new products to attract suitable customers, create podcasts and ongoing events to make the experience engaging and educational for customers.

Virtual guides: The customers will be guided throughout their banking journey by a virtual banking executive. They will also be directed to exciting, personalized offers that you may choose to showcase.

Live chat and voice communication: Interact with your customers as you would face-to-face. The virtual branch offers different communication channels, including chat and voice, so you can create a personalized experience for your customers, share advice, discuss new products, and help them as they sign up for your bank’s services.

Document verification and signature tools: The customer onboarding process has never been this simple. Customers can virtually sign documents in a safe, secure manner with a verification PIN and receive a copy of the document by email. This feature not only makes the process easy for your customers, but also reduces paperwork for your employees and centralizes all e-documents for verification and storage.

User data analytics: Your organization’s customer data is critical for accurate analytics and insights. Data from customer actions in the virtual branch are diligently tracked and automatically analyzed to give you in-depth insight into customer behavior, preferences, and product information. The platform gives you access to detailed reports, without requiring a human to oversee data capturing.

Website embedding: The entire virtual reality platform can be embedded into your website, so the customer is not pushed to leave the site to enter the VR simulation. With VR functionality, your website becomes a one-stop shop for all your customer needs.

Cost-effectiveness: By moving away from physical branches, your organization can save on not just real-estate costs, but also on human resource requirements. Moreover, the virtual environment automates several tasks that typically require extensive manual involvement, such as documentation, analytics, etc.

The future of banking is virtual, and virtual branches are a great way to offer your customers a personalized simulated experience. There is room for unlimited interactivity, with digital presentations, live sharing, events, and personal meetings, all within the virtual walls of your online branch.

Looking to create a Virtual Branch of the Future for your organization? Book a consultation with our experts to learn more.

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