Innovation in banking has previously focussed predominantly on customer convenience. For all of the efficiency and convenience technologies have brought to banking, banks always need to differentiate themselves with superior service. And that’s why many leading financial organizations are now turning their attention toward customer experience. In an age where banking is increasingly done online or through mobile applications, this presents a challenge to many financial service organizations.
As behavior changes and as technology continues to transform the financial services industry, it is no surprise that bank branches are closing. Analysts suggest that the number of bank branches open in the US could be cut by within the next decade. This is to be expected as more and more of what we do as customers is online. According to research conducted by Accenture customers engage with their banks an average of 17 times a month, but only two of those interactions involve human contact.
Lately, we have been thinking and talking about broadcast in multimedia. By now, you might have seen that TokBox is powering applications that go beyond the contemporary one-to-one and small group settings that are typically associated with the current generation of WebRTC apps, to a much larger scale of hundreds or even thousands of people watching and participating in the conversation. At a glance, this might not sound particularly groundbreaking; video has been distributed to large audiences for years. However, a closer look is necessary: with a shift in the underlying technology, TokBox adds the option of real-time communication to the existing large-audience reach of broadcast video, to enable a whole new class of applications.
There is no doubt that the financial service industry is going through a period of accelerated change. In order to keep up with shifting customer behavior and expectations, organizations are turning to a range of new technologies in order to create better experiences for their employees and customers.
Money2020, the world’s largest fintech event, focuses exactly on these innovative and disruptive technologies and how they are being used. For the first time, TokBox will be exhibiting this year at the European show, taking place in Copenhagen, April 4-7.
When developing applications, the importance of mobile cannot be underestimated and, at TokBox, we recognize the need to communicate seamlessly between desktop and mobile devices. That’s why we were excited to attend Mobile World Congress last month and demonstrate the power of WebRTC in bringing contextual, embedded communications to a range of uses cases, across multiple devices.
Mobile World Congress this year surpassed a record 100,000 visitors from around the world. With a range of exhibitors and presentations from industry leaders including Facebook’s Zuckerburg and Cesar Alierta from Telefónica, the event showcased the latest technology and trends in the mobile world, from WebRTC to virtual reality and robotics.