ASB Bank and Telstra: “Banking Customers Want Video Conferencing”

Nez Zealand’s ASB Bank recently launched its new video service which allows customers a personal experience while they access ASBs services online.  Meanwhile in Australia, Telstra upgraded and started selling network management and unified communications services to banks which can now handle video conferencing.

A white paper published by Telstra stated that banks are looking at every competitive edge to attract more clients and video could be playing the role of wildcard.

Clients are now open to the idea of doing certain transactions online but still want to have a personal experience as if they are inside their local branch. This appetite for video in APAC seems to be confirmed by ASB Bank which has recently partnered with New Zealand’s FaceMe and offer a video conferencing system.

The system allows customers to speak directly with banking representatives at a location and time that is convenient to the customers. FaceMe connects the customers to ASB banking representatives over a secure video conferencing system without having to download additional software. The system also allows secure document sharing.

In the study conducted by Telstra which interviewed 30 financial institutions and surveyed 1,000 Australian adults, Telstra found that 57% are interested in video based financial service. Half of Australians who go online are already engaged with online videos and about a third of them are already using video calling services.

The study also published that there is an almost 16% increase in perception improvement by consumers of the services if a video form is used compared with other forms.

Key Stats

  • 57% of Australians are interested in video banking services
  • Half of online Australians are already exposed to online videos
  • A third of online Australians use video calling services

Rocky Scopelliti, Telstra Industry Development Group General Manager: “As the sector starts to slow down in terms of growth, financial institutions are looking at how to sell more and gain a greater share of wallet for all the customers they have.”

Ian Park, ASB’s Executive General Manager for Retail and Business Banking: “New Zealanders are generally very tech-savvy and have continued to embrace mobile and video technology in their professional and personal lives. At the same time, video technology has matured to the point where lifelike video conversations, combined with live document sharing can provide a rich and satisfying experience for customers. We believe that the New Zealand market, with its geographically dispersed and often time-challenged population will see some real benefits in having a simple, convenient and effective channel to engage with their bank when and where they want to.” and

In your opinion, do you think that video services will improve the perception of the bank? And will it make banking easier knowing that you can do it in the comforts of your home yet you still get the personal treatment as if you were in your local branch?

Join the conversation here or on our facebook page.

What do you think?

Written by Christophe Langlois

Based in London for almost a decade, Christophe is an entertaining fintech marketing keynote speaker and a trusted advisor to the global financial services industry on the topics of digital marketing, innovation and B2B social media.

Christophe has contributed to over 140 events in 18 countries.

Currently, Christophe is advising a number of fintech startups on marketing and growth hacking and he is the Chief Marketing Officer of The Fintech Power 50, an exclusive annual programme helping fintech scale-ups to accelerate their growth globally.

Christophe's views on are his own.

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