Using Video Conferencing in the Financial Services Industry

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Video conferencing and collaboration is increasingly being used in the financial and investment sectors, and not just as a means of controlling business travel costs.

Use cases range from the classic reduction of travel, employee training, and compliance to high-touch personalized interactions with clients. With the right approach, desktop video can become a strategic asset for any financial services or investment firm.

How well integrated is video conferencing in the industry? Frost & Sullivan reports that the financial services industry has the second highest video conference usage rate of 61 percent, falling just under the healthcare industry at 65 percent. Widely used, it still leaves a large percentage of firms who’ve yet to see the benefit of video-based collaboration.

Video Conferencing Use Cases for Investment Services

Below are a few ways that desktop video can be used in an investment business:

•  Forging stronger customer relationships - As you know, earning and keeping your clients’ trust is crucial to your business. It may not be practical to meet regularly in person with your clients each month whereas holding short face-to-face meetings via video conferences could work well. During these meetings, important but subtle nonverbal cues can help strengthen your relationships. For example, they can look you in the eye and see that you’re listening to them. You can better gauge their states of mind, understanding, and interest levels, such as if they appear hesitant, doubtful, or enthusiastic. Meanwhile, over time, you’ll become more familiar with one another. If you bumped into one another at a social event, you’d recognize each other and have the opportunity to chat - an opportunity that could have been missed without frequent face-to-face contact.

•  Building trust with long distance clients and prospects - Face-to-face video collaboration is especially helpful when working with clients and prospects outside of your local service area. Being available for real-time video-based meetings can help humanize you, set you apart from the competition, and build rapport.

•  Accelerating decision-making - Whether working with clients to come to an investment decision or with partners on an important business decision, desktop video can foster faster decisions. For example, you can involve all stakeholders in a single conference, ensuring that everyone has the opportunity to provide their input and get their questions answered. With desktop video conferences, you can also share files or your entire computer screen, ensuring that the information needed to make a decision is immediately shared with attendees in real time.

•  Communicating with shareholders, key stakeholders, or the press - Have exciting news to share, need to respond to a crisis? Video conferences are an excellent way to get the word out. You can even record your video press conferences and post them on your website, Facebook, and other sites to further spread the news.

•  Attracting millennials to your firm - The next generation of clients is digitally savvy and reliant on their peers, social media, word-of-mouth, and personal recommendations before making buying decisions. At the same time, according to Deloitte, they still value face-to-face meetings for advice - with 82 percent indicating that they would like more personal meetings with their financial advisors. Using desktop video to engage with millennial clients on their smartphones, tablets and laptops satisfies their digital and interpersonal preferences while simultaneously offering all of the other benefits of video conferencing such as building trust, avoiding misunderstandings, providing timely, relevant information, and improving efficiency.

•  Gain a competitive edge over your competition - While 61 percent adoption is high, it still means 39 percent of financial services firms are not using video conferencing. Communicating through video with your partners and team members means that knowledge is exchanged faster, helping the entire team to be better informed and develop products and services quicker. You’ll have stronger relationships with your clients, promoting customer loyalty and prompting additional referrals.

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Investments & Financial Services Industry

Leveraging Video Conferencing with Clients



Video-based collaboration for investment firms is powerful and affordable. Whether you’re a small wealth management firm or a large Wall Street organization, you’ll find dozens of ways to leverage face-to-face video-based meetings with partners, team members, stakeholders, vendors, and clients alike.

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