31 July 2016
Find out more

Bank of America caters to Skype generation with telepresence roll-out

23 May 2014  |  7654 views  |  0 Videoconference

Bank of America is to expand its use of videoconferencing to 500 branches across the US, enabling customers to remotely interact with small business bankers, mortgage specialists and financial advisors.

The wider roll-out of Cisco telepresence kit follows a two-year pilot at 85 branches that saw 10,000 conversation take place. The bank has used the recordings from the trials to train its agents in effective broadcasting techniques to help to set customers at their ease.

Rob Auleback, Bank of America's ATM channel and retail distribution executive, says: "Convenient access to help when, where and how a customer needs it is the cornerstone of how we serve our customers. We are able to bring our expertise closer to our customers with face-to-face interaction provided through our partnership with Cisco."

Bank of America has been pruning its branch network and installing more technology to handle routine transactions as customers migrate to electronic channels. The extension of telepresence to 10% of its branches is seen as a cost-effective way of providing customers with specialist advice at locations where declining foot-traffic does not make it economically viable to have a dedicated presence.

Buy-in from onsite staff will be an important element in the success of the project. Late last year the bank faced a protest from counter staff over the roll-out of video teller ATMs, sparking concerns that the machines would replace well-paid branch staff with lower-wage call centre operatives.

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

BofA to cut further branches as $500 million mobile investment pays off

BofA to cut further branches as $500 million mobile investment pays off

16 January 2014  |  8337 views  |  0 comments | 25 tweets | 14 linkedin
Bank of America employees picket video teller ATMs

Bank of America employees picket video teller ATMs

26 November 2013  |  5776 views  |  0 comments | 4 tweets | 5 linkedin
BofA opens tech-packed 'express' branches

BofA opens tech-packed 'express' branches

02 October 2013  |  7023 views  |  0 comments | 10 tweets | 7 linkedin
Bank customers warm to virtual channels for 'high touch' interactions

Bank customers warm to virtual channels for 'high touch' interactions

24 April 2013  |  8617 views  |  0 comments | 16 tweets | 10 linkedin
BofA rolls out video teller ATMs

BofA rolls out video teller ATMs

04 April 2013  |  7616 views  |  0 comments | 10 tweets | 6 linkedin
Bank of America claims 10 million mobile customers; accelerates branch closure programme

Bank of America claims 10 million mobile customers; accelerates branch closure programme

24 May 2012  |  14966 views  |  0 comments | 2 tweets | 1 linkedin
ANZ rolls out Cisco video conferencing tech

ANZ rolls out Cisco video conferencing tech

23 March 2012  |  5105 views  |  0 comments
Cisco TelePresence wins big at Bank of America

Cisco TelePresence wins big at Bank of America

31 March 2010  |  7809 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit www.abe-eba.euVisit capgemini.comFind out more

Top topics

Most viewed Most shared
Groupe BPCE agrees to buy FidorGroupe BPCE agrees to buy Fidor
8839 views comments | 38 tweets | 56 linkedin
Telefonica Germany launches Fidor-backed mobile banking serviceTelefonica Germany launches Fidor-backed m...
7257 views comments | 16 tweets | 22 linkedin
hands typing furiouslyManaging Big Data After Brexit
6951 views 0 | 6 tweets | 8 linkedin
hands typing furiouslyWhat is FinTech and where does it Live?
6157 views 0 | 14 tweets | 4 linkedin

Featured job


Brussels (Belgium) or Paris (France)

Find your next job