Bank of America to Expand Videoconferencing to 500 Branches
May 29, 2014
In March of 2010 Bank of America (BoA) and Cisco (News - Alert) announced an agreement that would deploy the largest network of Cisco TelePresence systems with 200 units across the bank's global operations. The high-definition video and audio technology already delivers face-to-face meetings for banking officials, but the bank expanded this service to its customers in a pilot program two years ago. That program was tested in 85 branches and it resulted in more than 10,000 conversations between customers and bank employees. The success of the video conferencing solution led the bank to expand it to 500 branches across the US.
According to the bank there has been a dramatic shift to mobile and online technologies by its customers, and the adoption of the telepresence technology is going to take advantage of human resources in locations where foot traffic has been declining. It was noted that it is not financially feasible for the bank to have specialist associates with full time roles in these branches. Instead these specially trained employees can be part of the telepresence workforce providing solutions for customers across the country.
Bank of America is looking to give its customers the ability to interact with small business bankers, mortgage specialists and financial advisors remotely. This will allow the bank to deliver more services to more people by adapting to the changing banking behavior of its customers.
The bank used the Cisco CTS (News - Alert) 500 and EX90 conferencing platforms to deliver a personalized service, which according to bank officials customers found to be very human and flexible.
"We are able to bring our expertise closer to our customers with face-to-face interaction provided through our partnership with Cisco," said Rob Auleback, Bank of America's ATM channel and retail distribution executive.
The Cisco TelePresence System 500 provides immersive, multipurpose, and personal endpoints for applications in different environments. Some of the features and benefits are:
- Resolutions of 1080p and 720p on a premium 32-inch screen to help ensure telepresence is clear and natural.
- High-quality camera with high-definition (HD) images that auto-retracts when not in a call, leaving the full screen available for multipurpose use.
- Full-duplex, CD-quality audio provides a rich audio experience with no perceivable latency and no interference from mobile devices or cell phones.
- An advanced two-dimensional microphone array for additional audio clarity.
- Integration with the network ensuring reliability with high availability, security, and quality of service (QoS) and a highly secure communication enabled through encryption of both video and call signaling.
- Supports any-to-any interoperability with standard- and high-definition videoconferencing endpoints, and collaboration with desktop video applications, such as Cisco WebEx meeting applications and the Cisco Digital Media System.
The EX 90 is the first personal telepresence system with Full HD visual and audio quality, with an easy to use touchscreen interface and a built-in document camera feature. It has integration with UCM to enable features such as voicemail indicator, single number reach, and ad-hoc conferencing with immediate connectivity to anyone regardless of system-soft client.
Edited by Peter Bernstein