Digital and Video Banking

Digital banking is a fusion of traditional banking services with modern technology. It enables customers to perform financial transactions and manage their accounts through digital platforms such as websites, mobile apps, and even wearable devices like smartwatches. This convenience allows users to bank anytime, anywhere, without visiting physical branches.

Benefits of Digital Banking

• Convenience: 24/7 access to accounts and services.
• Cost-Effective: Reduced fees and overhead.
• Security: Advanced encryption and authentication.
• Efficiency: Faster transactions and automated services.
• Personalization: Tailored financial insights and recommendations.
  

What is Video Banking?

Video banking is a technology-driven banking service that allows customers to interact with their financial institutions through real-time video communication. It enables customers to have face-to-face conversations with bank representatives, advisors, or tellers remotely, using devices like smartphones, tablets, or computers.

Why implement Video Banking?

• Improved Customer Experience: Video banking offers a more personal touch compared to traditional phone calls or chat support.
• Expanded Reach: It allows banks to serve customers in remote or underserved areas.
• Competitive Advantage: Institutions that embrace video banking can differentiate themselves in a crowded market.
• Cost-Efficiency: Reduces the need for extensive branch networks.
• Digital Transformation: Aligns with the ongoing trend towards digital banking services.

Benefits:

• Improved Engagement
• Quickly close loans and new accounts
• Competitive edge in the market place
• Universally adopted across generations
• Staffing efficiencies
• Increased service footprint.

Digital Banking enterprise solutions allow credit unions and community banks to deliver a robust digital banking experience to their members or customers. It offers a quick-to-build, customizable, and extensible solution for mobile devices, browsers, voice assistants, and wearables.

Instant Payment Solution:

• Connect to Any Core - With more than a dozen real-time integrations to the most popular core systems, tyfone’s Instant Payment Exchange is adaptable to any core.
• Open API Gateway - Enable your partners’ and customers’ digital systems to easily connect to tyfone through a robust suite of Open Banking API’s.
• Built-in Native Fraud & Security Controls - Fight fraud with robust native fraud mitigation capabilities including OFAC/AML checks, step-up authentication, and velocity and amount controls.
• External Fraud System Connections - Connect tyfone’s Instant Payment Exchange to your preferred third party fraud tool for real-time fraud scoring.
  

Mobile and Online:

Mobile apps matter, do you know what is your app rating? How about the app rating of your competitors? If yours is below 3.8 stars you are behind your competition!

By 2022 80% of all consumers will have mobile banking.

Imagine having your branch in the palm of your consumer’s hands… that’s Eltropy.

Use Eltropy’s Video Collaboration to provide personal & highly-engaging sales & service video opportunities on mobile, web, and branch channels. Speed up and increase your loan closing ratio.

Meet Conveyance

In today's rapidly evolving banking landscape, technological innovations are driving efficiency and cost-effectiveness. One such innovation is Conveyance Serverless Check Imaging, a revolutionary solution for banks and credit unions. This article explores the transformative power of Conveyance in simplifying check imaging processes and enhancing operational excellence.

The Conveyance Advantage

Conveyance Check Imaging offers several key advantages:

1. Eliminating Physical Servers

Traditionally, check imaging required physical servers, adding to infrastructure costs and maintenance complexities. Conveyance replaces the need for physical servers, ushering in a new era of serverless technology.

2. Enhanced Stability and Uptimes

By leveraging cloud-based technology, Conveyance ensures better stability and increased uptimes. This means fewer disruptions and improved customer experiences.

3. Security at Its Core

Security is paramount in banking operations. Conveyance prioritizes security, ensuring that sensitive check imaging data remains protected in the cloud.

4. Streamlined API Integrations

Conveyance simplifies integration with a user-friendly API, making it easier for financial institutions to adopt this technology seamlessly.

5. Cost Efficiency

One of the standout benefits of Conveyance is its ability to reduce costs significantly. Banks and credit unions can expect nearly half the costs associated with traditional check imaging.

Tailored Solutions for ATM and ITM Check Imaging

Conveyance doesn't offer a one-size-fits-all solution. Instead, it provides customized x.937 content to fit the unique needs of each financial institution. Additionally, features like XML Check Data File Transmission and automated daily Check Imaging processes reduce the need for manual intervention and reduce full-time equivalents (FTE).

Conclusion

As the consumer banking experience becomes increasingly sophisticated, the back-end processes should follow suit. Conveyance Serverless Check Imaging offers a solution to bridge this gap, allowing banks and credit unions to improve operational efficiencies, reduce costs, and enhance their services.