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News : Bank of America Caters to Skype Generation with Telepresence Roll-out
May 23, 2014 -- Bank of America is to expand its use of videoconferencing to branches across the US, enabling customers to remotely interact with small business bankers, mortgage specialists and financial advisors.
The wider roll-out of Cisco telepresence kit follows a two-year pilot at 85 branches that saw 10,000 conversation take place. The bank has used the recordings from the trials to train its agents in effective broadcasting techniques to help to set customers at their ease.
Rob Auleback, Bank of America's ATM channel and retail distribution executive, says: "Convenient access to help when, where and how a customer needs it is the cornerstone of how we serve our customers. We are able to bring our expertise closer to our customers with face-to-face interaction provided through our partnership with Cisco."
Bank of America has been pruning its branch network and installing more technology to handle routine transactions as customers migrate to electronic channels. The extension of telepresence to its branches is seen as a cost-effective way of providing customers with specialist advice at locations where declining foot-traffic does not make it economically viable to have a dedicated presence.
Buy-in from onsite staff will be an important element in the success of the project. Late last year the bank faced a protest from counter staff over the roll-out of video teller ATMs, sparking concerns that the machines would replace well-paid branch staff with lower-wage call centre operatives.
Posted by Veronica Silva Cusi, news correspondent
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More Editorial From Cisco
Cisco provides Unified Customer Contact solutions that extend customer care beyond simple phone transactions and the traditional contact centre to unique content-rich customer centric experiences. These solutions let you uniquely personalize communication with individual customers through a variety of media including voice, Web, e-mail, and video.
About Bank of America:
Former Bank of America NT&SA (and its parent, BankAmerica Corporation) (NYSE: BAC), founded and originally headquartered in San Francisco, California, is now headquartered in Charlotte, North Carolina, following the 1998 takeover by the North Carolina-based former NationsBank. The resulting merged bank is now known as Bank of America, NA (and its parent, Bank of America Corporation.) The 2008 takeover of Merrill Lynch completed the transformation of this bank comprehensively to being one of the largest banks in the United States.
Published: Wednesday, May 28, 2014