St. Louis based Royal Banks of Missouri announced this week that it will be delivering a new service for their customers. The bank’s presence is the strongest throughout the St. Louis metropolitan area. Locally owned and operated, the initiative is particularly noteworthy given the fact that it is a regional bank that is investing in a video platform. The bank has twelve bank locations in the St. Louis area and 200 ATMs throughout the Midwest.
The provider of the new service is POPio Mobile Video Cloud (POPi/o), which is positioned as the industry’s first interactive mobile video banking solution. Royal Banks of Missouri’s stated objective is to “amplify its online and mobile banking services with personalized engagement via multichannel video collaboration.”
“POPi/o video banking provides the Bank with an efficient and secure portal that allows for a personalized banking experience,” said Royal Banks of Missouri Senior Vice President & Senior Retail Banking Officer Michael Stevenson. “We’re thrilled to bring video banking to our clients with a solution as innovative as POPi/o.”
POPi/o founder & CEO Gene Pranger is credited with being the creator of the concept of video banking with the Interactive Teller Machine (ITM). He said, “With POPi/o, financial institutions can now offer customized, one-on-one services once only available inside the branch to any digital channel for the most seamless consumer banking experience possible.”
The platform facilitates complex banking tasks between consumers and financial representatives, including in-video transactions, document approvals and applications, secure document exchanges, consultations, account management and other features.
Royal Banks of Missouri customers can access the service through the bank’s collaboration center, the bank’s website or mobile app via any personal device. In order tohelp financial institutions best serve customers and improve internal performance,products such as these provide detailed call histories, analytics and advanced management functions, including an application for emotive recognition.
One of the challenges regional banks face is to find vendors that can fit into their present system and still enhance customer experience. It is crucial to know the customer base well as there will be products that may seem like an enhancement but may not be a must have in order to compete. However, in the case of Royal Banks of Missouri it is noteworthy that the bank is taking initiatives to try new things that could set them apart instead of playing catch up with national banks.
- Global Political Corruption and Kleptocrats: How can we protect our U.S. financial institutions?
- Bank Deposits: The Most Important Number on the Balance Sheet
- Small Business Owners Confident in Growth Prospects for 2019
- Fintech and Brexit: The Future Impact on Ecommerce
- New Michigan Bank Will Launch this Month