25 May 2017
register for the webinar

BofA pilots video conferencing for wealth advice

11 February 2011  |  10319 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)

Finextra news in your inbox

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

Related stories

Security firms accused of pitching WikiLeaks sabotage plan to BofA

Security firms accused of pitching WikiLeaks sabotage plan to BofA

10 February 2011  |  10988 views  |  0 comments
HSBC rolls out online video consultations

HSBC rolls out online video consultations

01 June 2010  |  10778 views  |  1 comments
Cisco TelePresence wins big at Bank of America

Cisco TelePresence wins big at Bank of America

31 March 2010  |  8048 views  |  0 comments
BofA to close 10% of branches as customers go online and mobile - WSJ

BofA to close 10% of branches as customers go online and mobile - WSJ

28 July 2009  |  7992 views  |  1 comments
Swift signs three-year video conferencing deal with BT

Swift signs three-year video conferencing deal with BT

16 February 2009  |  12071 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit dh.comVisit www.capgemini.com/worldreportsvisit www.niceactimize.com

Top topics

Most viewed Most shared
Banks must get on AI bandwagon now – new Finextra researchBanks must get on AI bandwagon now – new F...
9266 views comments | 22 tweets | 31 linkedin
Google and PayPal partner for mobile shopping by fingerprintGoogle and PayPal partner for mobile shopp...
9228 views comments | 28 tweets | 28 linkedin
Twins fool HSBC voice biometrics - BBCTwins fool HSBC voice biometrics - BBC
8982 views comments | 21 tweets | 24 linkedin
BBVA launches Open API marketplaceBBVA launches Open API marketplace
7375 views comments | 33 tweets | 54 linkedin
BBVA brings info and payments to social and messaging networksBBVA brings info and payments to social an...
6780 views comments | 11 tweets | 17 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job