What is Video Banking Software? A Guide for Banks and Credit Unions
In a nutshell 🥥 Video banking software helps banks and credit unions deliver secure, face-to-face financial conversations from anywhere. This article explains why video banking is growing, how it works, the differences between purpose-built video banking software and standard video conferencing tools, and the features institutions should consider when choosing a solution. Video banking software is growing in popularity every day, with the vast majority of consumers who try it rating the experience highly. In fact, 57% of customers want all products, services, and support available digitally, and more than 85% of video banking users say they’d be willing to use it again. Clearly, video banking is the way of the future. Without it, banks and credit unions won’t be able to grow new membership and retain those tech-savvy or long-distance customers who come to expect modern tools from their financial institutions. Still, finding the right video banking software for your institution can be tricky: How do you compare one app to another? What are the top features to look for? How does video banking even work? To answer these questions and more, we’ve written an extensive guide to video conferencing for banking. We’ll explain the most important video banking features, how to find the right solution for your financial institution, and more. P.S. Looking for more video banking tips? Learn to build a strategy, roll out the software, and more—check out our ultimate video banking guide. What is a Video Banking System? Video banking solutions let clients and customers speak “face to face” with your staff members from their phone, laptop, computer, or other mobile device. This allows your team to provide high-quality financial services and build relationships from anywhere. Video banking software differs from standard video conferencing tools, which aren’t designed to complete the entire appointment process from one screen. In contrast, video banking software offers an end-to-end meeting booking tool, providing appointment reminders, post-appointment follow-ups, and more. It also provides analytics workflows to help financial institutions refine their processes and offer a better customer experience. Video banking platforms offer banks, credit unions, and their customers/members benefits like: Meet demands for more convenience and flexibility Enhance customer or member experience Increase workforce efficiency Create more opportunities for revenue and growth Improve data tracking and forecasting How Does Video Banking Software Work? Video banking connects customers and members to advisors in many ways. They can connect across devices, distances, and time zones, enjoying secure financial conversations and completing transactions in a single session, with a single screen. The best solutions don’t require video banking apps or driver downloads. Instead, they work from a web browser and allow any device to be used to conduct the appointment. It’s a streamlined, no-hassle solution that prevents delays and tech issues for both parties. Video appointments aren’t just for virtual calls, either. They can be used in-branch, across any number of devices. Here are the three options for video appointments: 1. In-Branch: Dedicated Video Call Booths Video call booths give customers and members all the privacy and security of a traditional in-branch visit, with the convenience to connect with a specialist anywhere. This saves customers from potentially long drives to meet the specialists at another location, or long waits to meet the specialists at their local branch. The booth comes equipped with quality audio, strong internet connectivity, and the privacy needed for banking appointments. Here’s a quick guide of all the methods for meetings aka video booth, both virtual, etc. 2. Hybrid: Employees Onsite, Customers or Members are Remote When customers want more freedom from banking appointments, a hybrid approach may be the best solution. With this option, staff stays in-branch or at a call center, while customers and members call in remotely from their home, office, or even from their car. Specialists can be anywhere and everywhere, without traveling back and forth to other branches. They might even be able to see more clients and better plan their day. Staff members can take calls from their desks or set up a laptop at a dedicated video banking cubicle. They can verify customers’ identities by asking security questions and having members show their government ID over the camera. Alternatively, customers could log into the video call using a single sign-on (SSO) integration. 3. Remote: Everyone Meets Virtually Looking for the most flexible video banking solution? With fully remote video appointments, both your customers and staff have the freedom and convenience of mobility. Staff members can work from just about anywhere, and financial institution’s can reduce costs by launching a fully virtual branch. Just keep in mind—staff members should still maintain a level of professionalism, taking calls in private, quiet places that represent your institution well. What Can You Do on Video Banking? With the right video banking system, what can’t you do? Depending on your goals, you can offer a wide range of video meeting types, including: Member Onboarding and Account Setup With new members and customers, it’s important to get that face-to-face interaction. Video onboarding is more memorable than a phone call, but more convenient than commuting. Meetings for Specific Products or Services Sometimes, customers already know what they need—but they don’t want to travel a long distance or wait in long lines to get it. In these circumstances, your financial institution can allow customers and members to connect with a specialist to discuss specific products and services (Think: loans and savings accounts). Customer Support and Account Questions In a competitive industry, customer support is more important than ever. Take your customer experience to the next level by offering video customer support and walkthroughs. (Bonus points if you can set up chat-to-video options online.) Contract Walkthroughs Contracts can be difficult for customers and members to understand. Sometimes it’s helpful to explain complex topics simply by going over them together via video. Screensharing and co-browsing solutions can be incredibly helpful here. Virtual Workshops and Seminars Want to offer financial advice at scale? You can pull off virtual workshops and seminars with ease
Logix Federal Credit Union Transforms its Branches, Consolidates Three Lines of Business on a Single Platform with Coconut Software
In a nutshell 🥥 Logix’s new enterprise scheduling foundation with Coconut Software delivers a unified member experience, deeper analytics, and 100% branch adoption across all 18 locations. FOR IMMEDIATE RELEASE | SASKATOON, SK, and BURBANK, CA – Coconut Software, a leader in AI-powered Intelligent Branch Solutions for banks and credit unions, today announced that Logix Federal Credit Union has successfully implemented Coconut’s enterprise scheduling platform across Retail Banking, Wealth Management, and Business Services—replacing fragmented scheduling tools with a single, data-driven foundation for member engagement. With 18 branches across the greater Los Angeles area, Logix previously relied on multiple scheduling tools that operated independently within each line of business, creating inconsistencies in the member experience and limiting leaders’ visibility into demand, utilization, and performance. After deploying Coconut, Logix now offers a consistent appointment experience across in‑branch, phone, and video channels—and has driven a meaningful shift toward scheduled appointments across its entire branch network, giving leaders greater visibility into demand and staffing. “The main reason Logix selected Coconut was its ability to bring appointment scheduling, multi-line-of-business support, reporting, and member-facing customization into one platform built for financial institutions,” says Leticia Meza-Guerrero, SVP of Retail Delivery at Logix FCU. “Coconut aligned with our need for a more modern, flexible, and scalable experience that could support both current operations and future digital member experience goals.” Today, Logix uses Coconut to run its full appointment operation across all 18 branches, virtual channels, and three lines of business, with 100% branch and channel adoption across the network. “Logix didn’t just replace a scheduling tool,” says Katherine Regnier, CEO of Coconut Software. “They built a more connected foundation for member engagement across their entire network. Three lines of business. 18 branches. 100% adoption. That’s what intentional infrastructure looks like. And it gives Logix the visibility and flexibility to keep improving how they serve their members.” The successful integration unifies three of Logix’s lines of business on a single platform and adds capabilities including: Lobby and queue management Microsoft Outlook and Exchange integration Automated member notifications (such as two-hour pre-appointment text reminders) Reporting and analytics that surface appointment demand, traffic patterns, staff utilization, and no-show and cancellation trends across channels “One of the positive takeaways has been the amount of operational insight Coconut can provide beyond basic appointment scheduling,” says Meza-Guerrero. “The platform gives Logix a stronger foundation to understand appointment types, traffic patterns, staff utilization, no-shows, cancellations, and member preferences across channels—helping leaders make staffing and service decisions based on evidence rather than assumptions.” To learn more about this partnership, read the full success story here. About Logix Federal Credit Union Founded in 1937, Logix Federal Credit Union (LFCU) is a not-for-profit financial cooperative serving current and prospective members across the greater Los Angeles area. With 18 branches and a commitment to relationship-based financial guidance, Logix delivers personalized banking, lending, wealth management, and business services designed to help members thrive. At Logix, serving their members is at the heart of everything they do. That commitment comes to life in every interaction, from the first conversation to achieving their financial goals. For more information, visit logixbanking.com. About Coconut Software Coconut Software is redefining how financial institutions run their branches, both physical and virtual, with AI-powered Intelligent Branch Solutions that unify operations, workforce planning, and customer engagement in one platform. By combining AI-driven insights with enterprise-grade appointment scheduling, in-branch queuing, video banking, and workforce optimization, Coconut helps institutions forecast demand, optimize staff allocation, and deliver seamless customer experiences—driving stronger branch performance. Trusted by 200+ banks and credit unions across North America, including RBC, Mountain America Credit Union (MACU), and M&T Bank, Coconut Software helps financial institutions streamline branch traffic, optimize workforce planning, and accelerate revenue growth. Visit coconutsoftware.com to learn more. Media Contact: Coconut Software | media@coconutsoftware.com