Vidyo Expands its Service into Banking

Rich Tehrani : Communications and Technology Blog - Tehrani.com
Rich Tehrani
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| Communications and Technology Blog - Latest news in IP communications, telecom, VoIP, call center & CRM space

Vidyo Expands its Service into Banking

Read to the end to see why future call center agents may need to start hitting the gym

We've covered Vidyo news before - the company has video solutions serving Eran-Westman-1.jpgnumerous industries with powerful solutions which work over a wide-range of of bandwidth situations. Recently they have been focusing more on banking solutions as research has shown the timing is good. In fact, 90% of banking industry respondents expect video collaboration to positively impact customer satisfaction, and 80% are planning on deploying a video collaboration tool in the near future.

To learn more, we spoke with Eran Westman, CEO of Vidyo.

The chief executive sees financial as a natural extension of the company's success in healthcare. He thinks using video when getting a mortgage, establishes trust with the customer and will become more common. He says they had some early banking adopters and now have six of the top 25 banks and think they have their seventh closing this month.

He continued, saying they landed RBC and have been fortunate that the bank speaks about the relationship publicly. He said that although there is competition, in order to do the job correctly you need resiliency, scale and stability while being able to integrate into the corporate workflow.

For example, RBC integrated video into the workflow by allowing agents to send a link for a Vidyo call and also by providing for instant escalation from voice or chat to video through Genesys call center software. One Vidyo customer saw 20% of their customers agree to a video call after starting the conversation on chat or voice.

Eran said they are working with Nice and Verint on recording solutions for compliance - which obviously is becoming more important as time goes on and is crucial in the financial sector.

Westman cites more differentiators such as scalability, quality and the ability to handle worldwide deployments. In addition, they are bringing best practices to their customers. For example, making sure agents are ready to make the transition from a voice call to one which includes showing your face and part of your body throughout the communications session. 

The company is also continuing to make progress with their CPaaS, Vidyo.io, where they provide APIs to developers so they can video-enable other solutions. The beauty of the approach is the developer pays on consumption, when the app goes live as opposed to making a huge up-front investment. Or OPEX vs. CAPEX.

In the future, we can expect them to continue to grow in numerous areas as well in the credit union space where they are already touting a successful case study and video.

If you want to learn more - here is a hybrid case-study, testimonial, commercial from the company.

One closing comment - there are two megatrends in the contact center space - the growth of bots or AI which will eliminate humans from customer communication and video which requires it. What does this mean? Call centers will likely favor the agents which look better on camera as bots take over more of the call center seats. In other words, being attractive may be as important for call center work as it is in the world of news anchors and TV personalities.

Speaking of bots, AI and APIs... Communications 20/20 will be held July 18-20, 2017 at Caesars Palace,

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Las Vegas, Nevada and will focus on the next wave of technology and innovation that will transcend the importance of person to person contact, disrupting the future of the entire communications industry. Communications 20/20 will provide vital knowledge and insight through unique programming, hands on training, live demos, keynotes, exhibits and networking events.

This unique conference will allow for individuals and companies entrenched in the traditional communications ecosystem that want to understand how to adapt and profit from the new software-defined communications trends that will permeate through all industries and enterprises.



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