StanChart goes high tech with video banking

As financial institutions financial institutions embrace  technology, banks have moved to incorporate video banking.

This is where customers have the opportunity to chat to banking staff using a remote video connection.

Standard Chartered Bank (StanChart) #ticker:SCBK this week became the first lender in Kenya to do so as local banks migrate to digital banking.

But how does it work?

The video banking technology lets you chat face-to-face with a bank teller over a secure video connection from a location of your choice via your laptop or desk computer. This connects you to a live bank teller through a two-way streaming video connection.

The teller can then walk you through whatever issue you raise and even take care of your banking business directly. The teller is able to answer questions about fees and other terms related to a transaction.
Video banking replaces the traditional across-the-counter service offered by bank tellers.

Globally, this form of banking has been gaining currency and replacing or partially displacing traditional banking tellers.

Via the video and audio link, the tellers are able to service the customer. In many ways it is just like being with a real banking officer, it feels more personal as there is just you and the image of the bank officer, so you feel that you have their full attention.

Video banking will be available to all clients via StanChart website between Monday to Friday, 9am to 6pm.

The bank will upgrade the service in the second phase to make it available through mobile devices.

The bank said the upgrade will also enable priority banking clients to use video banking to consult “face-to-face” with investment advisers to explore new wealth management opportunities.

The launch follows the successful roll out of the video banking service by the bank in Asia.