Kuber Video Banking – A Revolutionary FinTech Transformation by RankTech
By Editor | Kuber Video Banking, | January 31, 2022
Any Time Anywhere Face to Face Banking without going to Bank!!!
We at RankTech always work to bring convenience to you. Now experience the future of banking with a human touch through Kuber Video Banking. We are confident you will dote on it.
So let’s explore Kuber from various perspective!!!
What do Banks want!!!
What do the Banks’ Customers want!!!
Why Kuber – What it Delivers?
Reasons to Include Kuber – Video Banking in Your Banking Operations!!!
Kuber covers all the customer journeys
With collaboration, communication, and specialized features, you can design your own remarkable experience and get the most out of omni-channel.
RBI allows Aadhaar-based Video KYC for customer onboarding and to verify identity
By | | January 29, 2020
Now The Reserve Bank of India (RBI) has approved remote video-based authentication through Aadhaar as a substitute for e-KYC practices.
It will allow financial services providers in India to leverage technology to quickly authenticate and onboard remote customers.
As per RBI Guidelines, the process will be done through the Video Customer Identification Process (VCIP). The VCIP will eliminate the need for customers to be physically present at the bank’s (or the other regulated entity) premises for KYC, as they can share video and make a video call to a representative from anywhere in the country.
RANKTECH has Off-The-Shelf product for transforming e-KYC to v-KYC, that too anytime, anywhere. Including solution for user capture of Facial Biometric & customer KYC records through OCR during the onboarding and verification. To reduce the burden of physical verification, the geo-coordinates to are captured are provided along with user details. This eliminates the costly and time-consuming process of physical verifications.
Video Banking, A New Dimension in FinTech Revolution!
By Anil P Kastuar | Video Banking,Video Branch,Video Collaboration, | March 14, 2019
Video banking is a term used for performing banking transactions or professional banking consultations via a remote video connection.
Video banking can be performed from laptops, desktops, smart mobile phones & tablets, as well as via purpose built banking transaction machines (similar to an Automated teller machine), or via a smart video connection enabled bank branch. Today, video banking has many forms, each with its own benefits and limitations.
In-branch
Video Banking can be conducted in a traditional banking branch. This form of video banking replaces or partially displaces the traditional banking tellers to a location outside of the main banking branch area. Via the video and audio link, the tellers are able to service the banking customer. The customer in the branch uses a purpose-built machine to process viable medias such as cheques, cash, or coins.
Time Convenience
Video banking can provide professional banking services to bank customers during non-traditional banking hours at convenient times such as in after-hours banking branch vestibules that could be open up to 24 hours a day. This gives bank customers the benefit of personal teller service during hours when bank branches are not typically open. In addition, following “cut off” times are typically later for Personal Teller Machines as physical checks do not need to be gathered and collected to be delivered to a separate check processing location. Substitute checks, or digital images of the original check, can be utilized to process the transaction. This can result in the typical 3 PM business day “cut off” for a branch being extended well into the evening. This could greatly benefit customers by making their funds available even sooner than visiting a branch teller window.
Location Convenience
Video banking can provide professional banking services in nontraditional banking locations such as after-hours banking branch vestibules, grocery stores, office buildings, factories, or educational campuses.
Technology Branches
Video banking can enable banks to expand real-time availability of high-value banking consultative services in branches that might not otherwise have access to banking expertise.
Video Banking from anywhere
Video Banking has now been taken to another level of convenience. IndusInd Bank from India had in 2014 launched RankTech Solutions’ innovative solution called “Video Branch”. Touted as world’s first successful Video banking Solution, the “Video Branch” empowers the customer to do a Virtual yet Face- to- Face banking with his bank branch Manager or a Central video branch. This concept has brought banking virtually in the hands of the customer. The customer can engage with the bank for services and financial transactions by ‘meeting’ his bank Anytime, Anywhere. The customer can simply connect to the bank through an App on Android and Apple devices as well as through an application on the laptop/Desktop. So, whether the customer is at his home or office or even traveling he will be able to set up a Video conference and experience instant banking services. This facility is available to IndusInd Bank customers only
The technology of Video Banking
Although video banking has many different forms, they all have similar basic components.
Video Connection
Although termed video banking, the video connection is always accompanied by an audio link which ensures the customer and bank representative can communicate clearly with one another. The communication link for that video and audio typically requires a high-speed data connection for applications where the tellers are not in the same physical location. Various technologies are employed by the vendors of video banking, but recent advances in audio and video compression make the use of these technologies much more affordable. For an in-depth discussion on video conferencing technologies see wiki videoconferencing article.
Transaction Equipment
Other than the deployment location, one of the major differences between video banking and video conferencing is the ability to conduct banking transactions and exchange viable medias such as checks, cash, and coins. Purpose-built machines, such as a Personal Teller Machine (PTM), enable both the video/audio link to the customer plus the ability to accept and dispense viable media. The system typically allows the bank teller to manipulate the ATM machine to accept or dispense the cash and checks. Purpose-built transaction equipment is currently available, but in the future, these video banking systems will likely leverage existing automated teller machines which will be modified to enable the audio and video communication.
RankTech Solutions ( www.ranktechsolution.com) have another unique feature added to their Video banking by having intelligent skill-based call routing engine
Video Banking Services
Depending on the type of video banking solution deployed there are numerous types of services that can be offered. In conjunction with transaction hardware, video banking can include all of the following types of services.
Customer authentication
Cash Deposits
Check Deposits
Cash Withdrawal
Coin Withdrawals
Check Print
Account Transfers
Bill Payments
Account inquiries
The process of New Accounts
With all types of video banking the following services are enabled:
Process New Loans
Consult with banking professionals
The process of New Accounts
Inquire about banking services
For further details, contact Ranktech Solutions at sales@ranktechsolutions.com
By Animesh Roy | Video Banking,Video Branch,Video Collaboration, | February 22, 2019
That’s where RankTech’s Kuber Off The Shelf Video Banking Platform makes the difference
According to RBI’s Annual Report on Banking Ombudsman Scheme, 2016-17, the number of customer complaints has risen by 54% over a period of 2 years. Guess which customer segment has seen the sharpest increase. It is the urban segment, where complaints have risen 94%, which is nearly double, just within 2 years. Doesn’t this indicate that huge IT investments are failing to generate customer satisfaction? Do you wish to fix this problem for your bank, before it gets worse?
With the growth of the service economy and migration to cities, the urban markets present the highest opportunity for growth, whether it is retail or business banking. This is the market that needs the highest level of innovation to attract and retain customers. Consumer-centric digital innovation is the need of the hour.
While banks have access to a wide variety of cutting edge technologies like blockchain, big data, AI, Chatbot, etc, what appeals most to customers as social beings, is still human interaction. Taking cognizance of this, one FinTech company RankTech Solutions has innovated an advance digital face-to-face video banking platform, named – Kuber.
Kuber facilitates highest quality customer interaction, whether the customer is at home or office or is traveling or is waiting for his next flight, or is even far far away on a vacation. So one can avail banking services Anytime and from Anywhere without walking into a bank.
Kuber is an advanced Unified Communication Technology based Business Transaction & Customer Engagement Platform enriched with Specialized Business Use Cases & a whole suit of advanced technologies such as Intelligent Call Routing, SVC Video, biometric authentication, OCR, facial recognition, v-KYC, e-signature, geo location, text chat, document exchange with secure 128 bit encryption. Which can digitalize all the mandatory banking operations within the same platform, eliminating ‘real’ customer walk-ins and incorporating ‘virtual’ walk-ins through video branches?
Do Face 2 Face “Video Banking” with RankTech’s State of the art Technology!
By Sutanwi Ghosh | Video Banking,Video Branch, | February 7, 2019
With the dynamic wave, technological advancements taking over a plethora of industries, banks, and financial institutes face several challenges to keep up with the pace of digital transformation and meet the unpredictable customer expectations. Traditional business models will soon topple down and the key to sustain the era of metamorphosis lies with Innovation and change. Let’s see the top critical issues which banks are facing today.
Banks and financial institutions still are not making enough return on investment, despite all of the headlines about banking profitability, or the return on equity, that shareholders require.
These days it’s all about the customer expectations, and many banks are feeling pressure because they are not delivering the level of service that consumers are demanding, especially in regards to technology.
There is also increasing competition from financial technology companies. which is disrupting the way traditional banking has been done. This creates a big challenge for traditional banks because they are not able to adjust quickly to the changes – not just in technology, but also in operations, culture, and other facets of the industry.
This is the era of Metamorphosis. Let Rank’s Video Branch and Video Banking Let us be your digital catalyst to Transform Customer Acquisition and bring instant Onboarding, Enhance Customer Service, helping you not only in Customer retention but also expansion in untapped areas – making operations sharper and smarter, resulting in Customer Delight every time– And all of it happening super-fast while also bringing down Cost of Operations.
Mobile video banking is enjoying rapid uptake, broad appeal, and high satisfaction scores. And considering the efficiency gains that can be realized on the service side, it’s no surprise more financial institutions are planning to adopt video banking solutions. No more customer-walk ins or standing in ques.KuberVideo Banking Platform – is the technology that has transformed customer experience by enabling to do banking Face 2 Face with your bank executives from anywhere around the world without having to visit your branch.
RankTech has harnessed emerging Unified communications technologies to deliver world’s first digital video banking solutions by leveraging advanced technologies such as Intelligent call routing, SVC Video, Internet, VOIP, Mobility, GPS, email, text chat, etc. With Kuber, you get to reduce Turn Around Time, Time to Settle Grievances, and Time toCash, and expand your reach and capacity as everything happens super-fast on our Face Face digital platform blended with video. So, let’s see how Kuber works for you and your customer–
Now getting deeper into the KuberVideo Banking mechanism – Let’s say, a person is very busy at work, but he needs to visit a bank immediately. His boss won’t allow him to leave and this is important to him. How to deal with such tricky situations?
It’s simple! With Kuber seamlessly integrated with a bank’s website or application, all that your customer needs to do is make a few quick finger-clicks on the Video call button, select the department or service required, and with Rank’s Intelligent call routing, get connected super-fast to the required department subject matter expert on the banking frontier. And all this in the first call itself with negligible waiting time!
On submission by your customer, you can schedule a call between them and the verification department, at a future date or time for authenticating the KYC submitted by them previously during the process. Let’s see how. A URL link is mailed or sent by SMS to the customer, clicking on which the customer and the bank employee gets automatically joined to the call at the pre-fixed future time. Here, you can ask the customer to hold his Address or ID proof in front of the cam, take a snapshot of it, and with Kuber’s Optical Character Reader, the face-snapshot of your customer clicked by you then, and the details provided by him before is matched and at once authenticated – And all these processes and video communication can be recorded, documents fetched and stored in your CRM system! – So Voila! All your Banking Operations is holistically taken care of through Video Branches powered by Rank’s Kuber Face 2 Face Video Banking platform.
Every process intimation is provided to the customer to their email, through SMS, app notification etc with the help of our Unified communications technology embedded in the system. So everything lies in sync!
Kuber Video Banking is a win-win! Connecting your happy employees with your happier customers! Let your customer do “Anytime Anywhere Face to Face Banking through Video Branches without going to a physical bank”.
AI with Video Banking – The Next Game Changer in Financial Services Industry
By Animesh Roy | AI,Machine Learning,Video Banking, | January 14, 2019
AI with Video Banking !!!
According to a recent study by “Autonomous Research” it has been found that
Machine Learning and Artificial Intelligence (AI) will replace over $1 trillion of today’s financial services cost structure.
It clearly signifies, AI will have a huge role to play on tomorrow’s financial services enterprises to run their business.
Today a majority of the Financial Services companies are leveraging AI for easing out their Contact Center operations by incorporating Chatbots.
But AI is not only limited to that. It can be used for several higher-value operations. Especially Combining AI with Video Banking can deliver tremendous value to any financial services institution.
That’s why 82% of the Financial Institutions are planning to offer Video Banking services in coming days
Global Video Conferencing market is expected to $20 billion by 2024
By Editorial Team | | November 20, 2018
According to a report from Global Market Insights, Inc the Video Conferencing Market is expected to reach USD 20 billion by 2024;
The hardware accounted for over 50% of the video conferencing market in 2017. Hardware market includes the Multipoint Control Unit (MCU), codecs, and peripheral devices. The video conferencing industry growth is credited to the high adoption of MCUs among enterprises due to the increasing need for high interoperable video conferencing systems.
On the other hand, the software segment in video conferencing market is anticipated to grow at a CAGR of 14% over the projected time frame. The growing demand for cloud-based video conferencing solutions and mobile applications among the corporates is driving the market.
Moreover, the benefits offered by the cloud models, such as cost-effectiveness, flexibility, and scalability, also augment the demand for the cloud software.
Mobile Video Banking Ready to Rock, Insights from Early Adopters
By Anil P Kastuar | Enterprise Collaboration,Video Banking, | October 11, 2018
RankTech Solutions is proud to be the world’s first to deliver successful enterprise grade mobile Video banking in 2014.
Since then, the “Mobile video banking” is enjoying rapid uptake, broad appeal, and high satisfaction scores as more & more banks have adopted it across the globe. And considering the efficiency gains that can be realized on the service side, it’s no surprise more financial institutions are planning to adopt video banking solutions. Here’s what two retail banking providers learned as they’ve progressed through their mobile video banking journey.
An International study, for example, found that two-thirds of banks and credit unions are either deploying (11%), piloting (21%), or planning to deploy (28%) remote video banking capabilities. Clearly video will be playing a major role in the future of video banking.
While remote transactions have certainly been part of the mobile video user mix, the study revealed that biggest usage has come from — two segments in particular: adults with children and the elderly.
Think of families with small children who cannot be left alone on home. With “Anytime Anywhere Face to Face Banking”, “one doesn’t have to leave home to take care of banking.” And they don’t have to bring the children to the branch “where they would have to keep them amused, or fret about them running around the building while they speak with someone.” Mobile video banking is much more convenient for them says Anil P Kastuar, MD RankTech Solutions.
With the elderly, the mobile video banking app has proven popular, says EFMA’s Miller, because it “gives them back some of their independence by not having to rely on family members to take them to the branch.” And yet, with the live video, they still have a chance to visit with employees.
And of-course, the non-resident customers find Video Banking more reliable & cost effective and value it. EFMA & VIDYO Research reports say:-
