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Bank Video Conferencing: Expanding Opportunities at Your Credit Union

This article was updated on July 16, 2021

Is your credit union using bank video conferencing to increase efficiency and grant hiring managers more freedom? If not, you are limiting your interactions to people in the same physical space, thus missing opportunities for flexibility and growth. This is especially true when seeking new employees for your credit union, training them, and helping them to feel at home in their new jobs within your organization.

Geographical distance is no longer an issue for credit unions — bank video conferencing lets you remotely interview applicants, provide training across branches, and even offer video tellers.

The good news is that video technology now allows people to connect in real time in a way that wasn't possible before. And the visual element allows for a deeper level of connection and interaction that simply isn't possible with an audio call.

Next Best Thing to in Person: Video Interviews

Body language tells an interviewer a lot and can speak volumes about a candidate. While phone interviews are good for an initial screening, you can get a better feel for how an employee would interact with members by seeing their expressions and gestures. You can improve the hiring process and add flexibility using video conferencing. And smartphones with video capabilities enable potential applicants to interview for jobs from anywhere with a WiFi connection.

Now, instead of only interviewing local candidates or paying expensive plane fares, you can remotely interview candidates using video conferencing and hold as close to an in-person conversation as possible, even if you are across the country from each other. This also gives applicants a chance to interview with leadership or employees at other branches instead of being limited to workers in a specific location.

Anywhere, Anytime: Video Training

You want your employees to have the latest training possible, but logistics are always a challenge. Getting everyone in the same room at the same time is time-consuming, frustrating, and often expensive. It also likely means that some employees don't get the training they want or need due to these practical issues. But with video conferencing, your employees can access live training offered at another branch across the country or even watch recorded sessions at a time that best suits their schedules.

Video conferencing gives credit unions a freedom that simply wasn't possible previously. With simple and affordable video technology, employees and applicants can use the software with no training, and members can access faster service and financial expertise from any branch. By removing the geographical barriers, your credit union can increase opportunities, be more efficient, please members, and save money. And using video keeps people engaged and helps them feel like more active participants.

An added benefit of video training is that instead of waiting for the question-and-answer period during a training session, participants can use the chat window to ask each other questions. This increases understanding and engagement for participants.

Video technology is becoming an industry standard in communication. It allows hiring managers greater flexibility when selecting candidates and employees, gives credit union workers greater flexibility, and many employees and members now expect it.

New Role Created by Bank Video Conferencing: Video Tellers

By using today's video conferencing ability, your credit union can eliminate geographical barriers by hiring video tellers. Some credit unions have moved toward assigning all of their tellers to one central location and offering video conferencing kiosks at their branches, allowing members talk with the teller over video conferencing technology.

Centralizing the tellers increases both safety and efficiency. Instead of having a long line at one branch and another branch with an empty lobby and idle tellers, video tellers handle members from all branches, which spreads the workload out more evenly. This also reduces wait times at busy branches.

According to Credit Union Journal, one Midwestern credit union recently launched video tellers at its branches and now has a 95 percent member satisfaction rating. Member wait times have also decreased 90 percent, which is less than half of the industry average. Leadership says that loan conversions have increased with this new system. This also allows members to access experts in all products — loans, mortgages, investments — from any branch.

Video technology is becoming an industry standard in communication. It allows hiring managers greater flexibility when selecting candidates and employees, gives credit union workers greater flexibility, and many employees and members now expect it. Now is a good time to be sure your credit union keeps up with the times.


Vonage Staff

Written by Vonage staff

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