The Evolution of Video Banking
Video Banking Isn’t What You Think It Is Anymore
As someone who got his start in banking with uGenius Technology, the inventor of video banking, I’ve seen firsthand the impact video banking has had on the financial industry. But video banking isn’t what most people think it is — and it definitely isn’t what it used to be.
For many years, Interactive Teller Machines (ITMs) defined video banking. And for good reason. ITMs enabled community financial institutions to compete with major banks by allowing them to scale and grow at a fraction of the cost of traditional branch expansion. They preserved the close, personal touch that community institutions are known for through real-time video interactions, while still offering modern conveniences.
Extended hours, one-stop transaction completion, and strategic placement of ITMs allowed financial institutions to deliver a true retail banking experience — without spending millions on brick-and-mortar branches.
If that’s what you think video banking is, you weren’t wrong… in 2015.
Video Banking Is More Than Teller Transactions
Today, video banking is no longer limited to ITMs. It has evolved into something far more powerful.
Banking isn’t just about transactions. It’s not simply cashing a payroll check or making a deposit. A true video banking strategy must extend beyond teller functions to support the full banking experience.
This evolution isn’t a knock on early video banking technology. At the time, infrastructure and tools limited what was possible. But with today’s advances in networking, software, and analytics, financial institutions can now build video strategies that are far more comprehensive.
Let’s look at one of the most impactful additions to modern video banking.
Video Surveillance: The Most Overlooked Video Banking Tool
My personal favorite addition to the video banking technology suite is video surveillance — yes, your branch camera system.
Even if your cameras haven’t been upgraded in years (and might still be recording in black and white), they can still deliver powerful insights when paired with the right software.
Modern video surveillance is no longer just about reviewing footage after an incident. With advanced analytics, your video system becomes a tool for retail, marketing, operations, and compliance.
Today’s video surveillance systems can:
- Track how many people enter and exit your branch — and where they go
- Provide directional flow data to optimize staffing and layouts
- Generate heatmaps to help cleaning crews focus on high-traffic areas
- Capture demographic insights to measure in-branch marketing effectiveness
- Measure dwell time and reactions to digital signage and promotions
With the right partner, your cameras become a source of intelligence — not just security.
Turning Cameras Into Operational Intelligence
I like to ask this question:
Where do you wish you had eyes, but can’t afford to put people?
That’s where video analytics shines.
AI and machine learning now reduce the need for constant system tuning. These tools learn and adapt over time as more data is collected, improving accuracy while reducing manual intervention.
Video surveillance can even:
- Notify staff when a member arrives for an appointment
- Trigger alerts when vehicles enter your parking lot
- Send real-time notifications to desktops or mobile devices
The possibilities are nearly endless.
In many cases, a single cross-department conversation will uncover a dozen or more use cases that can be implemented quickly — often without major capital investment.
The Future of Video Banking
Video banking has evolved from a single transaction-focused technology into a platform that enhances experience, efficiency, and insight across the entire financial institution.
The institutions that succeed will be the ones that stop thinking of video as a single tool — and start treating it as a strategic asset.
And this evolution is just getting started.
Digital Collaboration: Completing the Video Banking Strategy
The next evolution of video banking isn’t video calls — it’s digital collaboration.
True collaboration allows financial institutions to take ownership of the member experience by enabling meaningful, high-impact conversations through video. Strategic discussions — loans, advice, and financial planning — are simply more effective when conducted face-to-face, even when that face is on a screen.
Too often, lenders and mortgage officers are still bouncing between branches to serve members. With modern collaboration tools, those interactions can happen anytime, anywhere — without sacrificing quality or personal connection.
Video collaboration doesn’t replace in-branch interactions, and it isn’t right for every moment. But after working with hundreds of financial institutions, one thing is clear: there is a place for video collaboration in every institution.
And because no two financial institutions are the same, no two video banking strategies should be either. The most successful organizations work with agnostic partners who can help design a strategy that fits their unique goals, members, and operations.
Written by: Scott Fieber
Scott’s article can be also be found on the Credit Union Times Website
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