Joe Militello is the Vice President of Software Sales for Hyosung. In this role, Joe helps Financial Institutions understand how Hyosung's offerings enable branch transformation in how they interact with their customers and streamline their operations. Prior to joining Hyosung, Joe worked at NCR for 25 years serving in a variety of financial product management, development and professional service positions.
Across industries, whether it is retail, travel, or financial, customers expect to interact with organizations in a cohesive manner, regardless of channel. They expect to be able to purchase services when they want, where they want, with the ability to engage in one channel and fulfill in another. This could be purchasing an airline ticket on a PC and getting the boarding pass on their phone or at a kiosk in an airport. It can also be moving from digital purchases to physical fulfillment, such as purchasing groceries or other items online and having them delivered at home or to their car in a parking lot.
The financial industry has met these challenges by offering product information and account opening services on their digital home banking and mobile channels. The challenge is that many customers are uncomfortable purchasing products and services without someone to explain products and reassure the customer about their choice. This has led to a lot of “shopping” on digital channels, but high rate of abandonment.
The traditional financial sales channel, the branch, also has its set of challenges. Complex products, such as mortgages, investments, and commercial accounts, take real expertise and training to explain and close. Today’s environment has only exacerbated these staffing issues, to a point where it is impossible to have an expert in everything in every branch. Customers come into a branch to find out about a product only to be told they should go to another branch or make an appointment to come back another day when the expert is in. Expensive staff have idle time, because the branches they resident in, do not provide enough customer traffic.
However, the ITM is primarily a transactional device rather than a sales channel. Customers expect lines at ATMs and ITMs to move quickly; adding sales-related interactions to that channel that can take half an hour or more would lead to a significant erosion in customer satisfaction. Banks need to find a way to meet this customer expectation without negatively impacting existing offerings.
Hyosung Connect is a multi-channel offering that provides video bankers the tools to deliver the entire financial sales process remotely, including presenting product information, collecting customer documents and identification, sharing and co-filling out applications, gathering signatures, and closing deals. The video bankers can be in a video call center, in branches and available in their idle time, or remote at home.
Hyosung Connect comes in three distinct offerings:
• Connect.Online powered by POPi/o, enables your existing mobile banking app and website to transform into an immersive audio/video experience with all the tools to complete complex product sales and services. It’s never been easier to service an existing customer from a remote location.
• Connect.ATM enables your customers to scan a barcode from an advertisement using their mobile phone’s camera and immediately be connected via audio or video to a service/sales representative who can then take them through the entire sales and service process. Or, if they prefer, they can schedule an appointment at a more convenient time. Similarly, a video teller can identify a customer concern or need and text a link to the customer’s mobile phone that will allow them to connect to a video banker expert or allow them to schedule an appointment.
• Connect.DigitalDesk takes remote banking to a whole new level by integrating audio, video, authentication, document and ID capture with workflow/signature capture into a secure consolidated device. With a digital desk every branch can become a full-service branch, providing members or customers access to remote video banking product experts when they need them. As experts in building ATMs, Hyosung has developed a digital desk with all the security, servicing, and remote management capabilities you would expect and need.
Hyosung Connect enables your customers to self-serve until they want to talk to someone and then can choose how to engage an expert. Interactions can seamlessly be started in one channel and finished in another. A customer can start at a digital desk, go home to get their W2 or utility bill, and complete the process with their mobile phone or PC. Hyosung Connect eliminates friction in your customer relationships, allowing your customers to engage video bankers across channels, where they want, when they want, while enabling you to make more effective use of your existing staff.
To find out more about Hyosung Connect, we encourage you to contact your Hyosung sales rep or your local Authorized Hyosung Dealer.