In a nutshell 🥥 Mobile video banking lets banks and credit unions offer secure, face-to-face financial conversations from anywhere—boosting convenience, appointment volume, and staff productivity—while purpose-built video banking software streamlines booking, identity verification, document review, and e-signatures, helping you justify investment, win stakeholder buy-in, and measure ROI as you future-proof your branch and virtual banking strategy.
Welcome to the future of banking. Mobile video banking allows more flexibility to customers and members than ever before, which means your bank or credit union can schedule (and keep) more appointments than ever before.
The demand for mobile video banking is high. In fact, in 2020, 46% of clients said they would continue to speak with advisors over video appointments, even after branches reopened to the public.
Adopting a new tool can feel overwhelming, especially if you’re not certain it’s the right move. If you (or your executives) need more convincing, keep reading to find out all the benefits of mobile video banking, and how to get your financial institution on board.
What Is Mobile Video Banking?
Mobile video banking involves taking meetings over video, rather than in person. With the right software, mobile video banking can happen on any device (laptop, smartphone, tablet, PC, etc.). If clients need to download an app in order to complete a video banking session, they may be limited to their smartphone or tablet.
Remote video banking can also include secure document signing, screen sharing, and participants can decide whether or not to use the video feature or stick to voice only.
Your financial institution can adopt mobile video banking in a few different ways, depending on the location of each party:
- Onsite Video Call (Client Comes In, Employee Is Remote)
This first option involves a customer or member visiting your branch and using a computer, or mobile banking booth to communicate with a specialist who is off-site.
This may be a good fit if you already have the capabilities to support clients who come on-site to use your technology. It may not be the best fit however if you need to invest in building/purchasing a mobile banking booth or other dedicated resources.
- Hybrid Call (Employee Is On-Site, Client Is Remote)
In this scenario, advisors can take video calls from their office, and a customer or member joins from a remote location. This solution makes sense for branches where employees are regularly on-site Monday–Friday and can easily take calls throughout the business day.
- Totally Remote (Both Client and Employee Are Off-Site)
This third option is perhaps the most flexible, especially if your financial institution allows employees to work remotely/from home. Advisors can take appointments from home, and clients can choose a meeting time that works best around their schedule as well.
What Is The Aim of Virtual Banking?
Mobile video banking is so much more than simply chatting with clients over a video call. Sophisticated video banking software allows both customers/members and advisors the flexibility to complete complex transactions or provide advice anytime, anywhere.
Rather than meeting in person at a physical branch, both parties can accomplish a variety of tasks virtually:
- Verify identity
- Review documents together
- Securely sign documents
- Record follow-up appointments and outcomes
- Co-browse
- Navigate sensitive information on encrypted software
This is why a tool designed specifically for banks and credit unions works best—it includes the right security measures, and features that make banking appointments seamless. A typical video conferencing tool won’t have all the capabilities needed to securely share information, co-browse, collect signatures, or track outcomes.
Remote video banking also provides a lot of backend capabilities that save staff time, and make the experience smooth for customers and members:
- Book meetings virtually
- Generate secure individual links
- Send reminders automatically
- Provide login details automatically
What Are Some Video Banking Use Cases?
There are dozens of reasons your staff may want to take advantage of mobile video banking. Video banking use cases can vary widely—whether you’re collecting signatures, or creating a new checking account.
✅ Set Up Accounts and Help New Members
One of the easiest ways to use remote video banking is to help new members get their footing. With dedicated virtual banking software, customers and members can use video tools to set up a new checking or savings account, apply for a new credit card, or get more information about their status.
✅ Go Over a Contract Before Signing
Mobile video banking also allows staff to screen share or co-browse with customers and members so they can go over contracts or other documents together before collecting signatures. This way, complex language can be explained, and advisors can answer any questions a client may have.
✅ Provide Product Information
Video banking connects customers and members with specialists who can provide more information about products they are interested in. Use this tool as an opportunity to cross-sell, up-sell, and give expert advice on services like mortgages, credit cards, personal loans, and savings accounts.
✅ Troubleshoot Client Questions
Sometimes customers and members just need to see a friendly face when they’re frustrated, confused, or have banking questions. Staff can use this tool to give quick service calls and help clients find solutions.
✅ Get a Pulse On Financial Health
Advisors can use mobile video banking as a way to schedule 1-on-1 financial health checkups with clients. The best virtual banking software will provide advisors with secure personal booking links, allowing them to share these invites through email and other marketing campaigns.
✅ Give a Virtual Seminar
Remote video banking can also be used to run virtual workshops or seminars that educate customers and members on financial topics. Depending on call capacity, staff members can include a large group and track their info after the meeting as well.
What Are The Advantages of Virtual Banking?
The benefits of video banking can be huge for your bank or credit union, as well as your customers and members. For example, the convenience of a virtual option drives growth through more appointments booked, and fewer no-shows and cancellations. Plus, your staff will save time and increase efficiency through the use of mobile video banking.
Let’s break down those benefits a bit further:
- Give Customers and Members The Convenience They Crave
Self-serve appointment options are revolutionizing the way people do business across dozens of industries—from medical to beauty services. Why shouldn’t banking be the same? Your clients are looking for mobile solutions, and video banking is a perfect tool for earning loyalty and strengthening relationships.
Rather than taking time out of their day to make an appointment, drive to a physical branch, and wait around for their turn, customers and members can book an appointment right from their phone, and keep the appointment wherever they are.
- Save Time and Boost Productivity
Give employees the flexibility they want—including coveted work-from-home options. With virtual video appointments, advisors can save time traveling, meet with clients sooner, service more locations, and keep to a schedule that best fits their needs.
Mobile video banking is also a huge asset for managers and leaders looking to get a better idea of appointment volume, digital usage, and outcomes. A lot of video banking software options provide transcripts and recordings, as well as a wealth of data that can help with training, reporting, and improving systems overall.
How Do I Get Buy-In for Remote Video Banking?
The benefits of mobile video banking tend to speak for themselves, but your stakeholders may still need some more convincing in order to get on board with implementing new software.
If you’re wondering how to get buy-in for a video banking tool, remind your team of these key benefits of video banking:
- Video Calls Are The “Norm” Now
During the pandemic, video conferencing became the norm for millions of people all over the world. Customers and members not only want virtual video options, they probably expect them to already be in place.
- Your Other Departments Need Better Solutions
Staff, advisors, and managers aren’t the only ones that benefit from virtual banking solutions–other departments need them as well. Your marketing team will be able to easily track campaign ROI, improve branding experiences, and learn data about the customer lifecycle.
Your call center can benefit from video calls as well by troubleshooting issues faster, re-routing clients to the right department, and improving NPS scores.
- This Software is Created Specifically for Banks and Credit Unions
Maybe your stakeholders have been burned in the past by clunky technology or systems designed with other industries in mind. You can reassure your team that the mobile video banking software you’re considering has been created specifically for banks and credit unions. This means it runs through proper security channels, functions with your existing website and app, and features support from people who know your business.
How To Measure Remote Video Banking’s Success
A great video banking software will track all kinds of data points as you and your clients use the technology. Depending on what your goals are for your bank or credit union, you may want to keep track of different metrics to show the success of your implementation.
Some metrics to consider include:
- Number of appointments booked
- How many meetings each location hosts
- Population segments that use video banking most often
- Customer satisfaction scores
- Foot traffic in locations that offer video banking
- Sales data: which products are selling over video
Are You Ready For The Future?
There’s no doubt remote video banking is the future of the industry—the question is: are you ready to implement it? Whether you’re looking to add a physical video booth to your building, or are considering opening a virtual branch, the answer to all your tech-forward goals is video banking software created for banks and credit unions.
See how Coconut can help connecting with your institution a breeze.
FAQs about mobile video banking and virtual branches
What is mobile video banking and how does it work?
Mobile video banking lets customers and members meet with bank or credit union staff over secure video calls, instead of visiting a branch in person. With the right video banking software, clients can join from any device via a browser-based link—no third-party app downloads needed.
During a session, staff can verify identity, share and review documents, co-browse, and collect e-signatures in a single, secure interface.
To dive deeper into how a purpose-built system works, including in-branch, hybrid, and fully remote options, see: What is Video Banking Software?
What are the top benefits of mobile video banking for banks and credit unions?
The top benefits of mobile video banking include greater convenience for customers and members, more appointments booked, fewer no-shows, and higher staff productivity. It also makes it easier to connect clients with specialists across locations, expand into new markets without new branches, and capture data that improves forecasting and reporting.
For a full breakdown of ROI, use cases, and stakeholder talking points, explore: The Top Benefits of Mobile Video Banking.
How is video banking software different from regular video conferencing tools?
Unlike generic conferencing apps, video banking software is built specifically for financial institutions. It combines secure video with end-to-end appointment workflows: online booking, automatic join links, identity verification, co-browsing, e-signature capture, post-meeting notes, and analytics—all in one platform.
A typical conferencing tool would require multiple add-ons and still may not meet banking security and compliance standards.
Learn more about capabilities like co-browsing, recordings, and analytics in: What is Video Banking Software?
How can my institution open a virtual branch using video banking?
To open a virtual branch, you’ll need a strong online banking portal, clear web messaging, trained staff, and frictionless support powered by online appointment scheduling and video banking.
Many institutions start small by piloting out-of-region advisors, retaining members who move away, and digitizing paperwork with e-signatures and identity verification.
For a phased checklist—from testing the concept to marketing your new location—see: Should You Open A Virtual Branch? (Plus, How to Do It).
Is remote video banking really the future of branch strategy?
Yes. Research shows that customers increasingly expect digital access to advisors, and many plan to keep using video even after branches reopen.
Remote video banking helps you future-proof branches by blending human advice with digital convenience, shrinking your physical footprint where it makes sense, and extending services into regions without brick-and-mortar locations.
For strategic guidance on where video fits in your branch transformation plans, read: Remote Video Banking: Future Proof Branch Strategies.
About Us
Coconut Software is the leading AI-powered Intelligent Branch Solution for banks and credit unions seeking to boost operational efficiency, deposit growth, loan growth, cross-channel seamlessness, and competitive CSAT and NPS scores. For over a decade, we have been the market leader in bank appointment scheduling software, branch workforce management, branch data and analytics, lobby and queue management, and video banking, helping our customers achieve increased CSAT, bigger ROI, and growth across all lines of business. Get in touch with us today to learn more.
