14 February 2016

BofA pilots video conferencing for wealth advice

11 February 2011  |  9817 views  |  0 laptop with hands on keyboard

Bank of America is planning to trial video conferencing technology in branches that will enable customers to talk with investment specialists in other parts of the country.

With customers increasingly using online and mobile banking services, BofA plans to make cost savings by reducing its network of nearly 6000 branches this year.

Meanwhile, in a bid to boost revenue at some remaining outlets, video conferencing is being piloted, Walter Elcock, the executive responsible for branches revealed in a Bloomberg interview.

Branches in Los Angeles and the Washington, DC, will begin testing video conferencing rooms this month, with customers talking to Merrill associates in New Jersey, Florida and Arizona.

Elcock did not provide details on the technology being used for the trials but last year BofA signed up for a minimum 200 unit-strong roll out of Cisco's TelePresence, a video conferencing and collaboration system that enables virtual face-to-face meetings across multiple locations.

BofA to Trim Branches, Test Remote Wealth Advisers - Bloomberg

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

10 February, 2011
01 June, 2010
31 March, 2010
28 July, 2009
16 February, 2009

Related company news

 

Top topics

Most viewed Most shared
UK sets out open banking API frameworkUK sets out open banking API framework
16996 views comments | 108 tweets | 91 linkedin
Deutsche Bank calls for co-operation with fintech firms on B2B servicesDeutsche Bank calls for co-operation with...
9471 views comments | 31 tweets | 30 linkedin
How to accelerate your fintech startupHow to accelerate your fintech startup
9172 views comments | 36 tweets | 10 linkedin
Is Paym a failure?Is Paym a failure?
7515 views 17 comments | 23 tweets | 16 linkedin
Visa issues API to offer consumer control over card transactionsVisa issues API to offer consumer control...
6794 views comments | 17 tweets | 28 linkedin

Featured job

to $120K base, double OTE, benefits
New York City, NY or Boston, MA (USA)

Find your next job