Why Audiovisual Integration is Important for Financial Institutions

Why Audiovisual Integration is Important for Financial Institutions

It is estimated that the global professional audiovisual industry will grow from $247 billion in 2019 to over $325 billion by 2024. This growth is primarily driven by the rise in demand for audiovisual technology products and services across various industries.

This is because audiovisual installations transform how businesses operate and in the process, improve communication, collaboration, efficiency, and profitability. As such, since the turn of the decade, the number of businesses turning to audiovisual installers for Voice Over Internet Protocol (VOIP) has been increasing every year.

By 2016, projections for the monthly VoIP traffic stood at 158 petabytes. A figure that will continue to rise as more organizations embrace this technology.  The financial sector is one that has a lot to gain from AV installations. Read on to find out how audiovisual technology transforms service delivery and operations in financial institutions.

1. Enhances Information Communication Via LED

Financial institutions have to avail a lot of constantly changing information to consumers. Such data include currency exchange rates, stock prices, and loan products, among others. This is in part to market the plethora of services they offer while enabling their customers to make sound financial decisions.

With LED audiovisual technology in banking halls, conference rooms, and public spaces, financial institutions are now able to provide real-time data to customers as they wait to be served. In addition, the technology showcases information in high definition, and the brightness and contrast ensure that videos and images can be seen clearly even when it’s bright.

2. Makes Interactions more Personal

One of the key components of organizational success is team unity. Approximately 97% of executives and employees cite team cohesion as a factor that contributes to the outcome of projects. Unity boosts morale, creative development, enhances collaboration, and increases productivity.

Personal connections between employees are especially meaningful in the banking sector. This is because multinational financial institutions have branches spread all over the world that need to work in unison. Some of these team leaders who need to coordinate have never met in person.

By leveraging on audiovisual technology, remote team members can see and talk to each other. This makes meetings and interactions more personable, which builds unity.

On the customer service level, audiovisual installations allow financial institutions to deliver more customized services to clients. An emerging trend is the use of a digital assistant and private for clients.

When customers walk in a banking hall, a digital concierge detects their entry automatically and offers to connect them to a bank employee at a call center to assist them.

Banks can also set up private rooms where customers can local or national experts or even high ranking employees in other branches to discuss mortgages, loans, investments, and more.

With such personalized service, customer satisfaction and brand loyalty can increase exponential

Lowers Operation Cost

Operation costs have a direct effect on a company’s profit margins. Audiovisual technology allows department heads to pass on more information and in and in a range of formats such as graphs, videos, and images to employees quicker.

This eliminates the need for printing many documents and the time it would take to do so, thus allowing employees faster access to information. Though audiovisual technology requires a substantial initial investment, the savings and efficiency that come with make it worthwhile in the long run.

4. Integration of New Recruits is Easier

As a company grows, it needs to increase the number of employees to ensure service delivery is not compromised. However, bringing new employees up to speed with how the company operates takes a lot of time and resources.

An audiovisual integration system specialist can help you setup video training mechanisms that enable new recruits to process information better and faster. This allows them to make more valuable contributions sooner at a fraction of the cost of traditional integration methods.

Bottom Line:

Financial institutions are a critical part of any economy and are in a delicate sector that requires maximum productivity and efficient use of resources. Audiovisual technology assists in both regards, making it invaluable in the industry.