28 August 2016
Find out more

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

23 May 2014  |  7736 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  |  8392 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  |  5825 views  |  0 comments | 4 tweets | 5 linkedin
BofA opens tech-packed 'express' branches

BofA opens tech-packed 'express' branches

02 October 2013  |  7055 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  |  8676 views  |  0 comments | 16 tweets | 10 linkedin
BofA rolls out video teller ATMs

BofA rolls out video teller ATMs

04 April 2013  |  7669 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  |  15019 views  |  0 comments | 2 tweets | 1 linkedin
ANZ rolls out Cisco video conferencing tech

ANZ rolls out Cisco video conferencing tech

23 March 2012  |  5133 views  |  0 comments
Cisco TelePresence wins big at Bank of America

Cisco TelePresence wins big at Bank of America

31 March 2010  |  7830 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comFind out moreVisit equens.com

Top topics

Most viewed Most shared
hands typing furiouslyBig Data's Three Big Trends in 2016
8061 views 5 | 22 tweets | 13 linkedin
hands typing furiouslyHow Banks Are Losing Millions by Ignoring...
7777 views 11 | 24 tweets | 10 linkedin
Nordea looking for AI and blockchain breakthroughsNordea looking for AI and blockchain break...
6698 views comments | 17 tweets | 21 linkedin
India's Unified Payments Interface goes live with 21 banksIndia's Unified Payments Interface goes li...
6241 views comments | 16 tweets | 18 linkedin
R3 blockchain consortium sheds light on Concord projectR3 blockchain consortium sheds light on Co...
6232 views comments | 14 tweets | 14 linkedin

Featured job

Find your next job