21 August 2017
visit www.avoka.com

BofA pilots video conferencing for wealth advice

11 February 2011  |  10426 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  |  11064 views  |  0 comments
HSBC rolls out online video consultations

HSBC rolls out online video consultations

01 June 2010  |  10877 views  |  1 comments
Cisco TelePresence wins big at Bank of America

Cisco TelePresence wins big at Bank of America

31 March 2010  |  8589 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  |  8074 views  |  1 comments
Swift signs three-year video conferencing deal with BT

Swift signs three-year video conferencing deal with BT

16 February 2009  |  12140 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.worldpaymentsreport.comvisit www.niceactimize.comdownload the paper now

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
11152 views comments | 25 tweets | 23 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
9385 views comments | 22 tweets | 28 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
9361 views 0 | 5 tweets | 1 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
9120 views comments | 19 tweets | 23 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
8996 views comments | 10 tweets | 8 linkedin