Is Video PD the Key to Personalizing Customer Interactions?

2nd August 2023

In today's tech-driven world, businesses are constantly seeking innovative ways to engage with the customers. Banking and NBFC sectors, in particular, face unique challenges in customer interaction due to geographical constraints. This results in delayed processes and clinical experiences coupled with traditional methods like face-to-face meetings and phone calls.

However, personal video interaction is a game-changer, offering transformative solutions to address these challenges head-on and redefine how businesses engage with their clients.

In 2021, 85% of companies used videos as a marketing tool, and this trend continues to grow. Research shows that people prefer watching captivating visual content over reading text, with 72% of individuals using videos to get to know a company. Additionally, 53% of viewers of corporate videos plan to visit the brand's website, highlighting the powerful impact videos have on customer engagement.

So, in this article, we’ll learn about the challenges faced by traditional verification processes, and how Video PD helps in overcoming the shortcomings.

How Traditional Verification Processes Fall Short

Before the emergence of Video PD, businesses faced a variety of issues in their consumer contacts:

● Geographical constraints, limited in-person visits affecting customers in remote areas or with mobility issues.

● Manual verification processes were time-consuming and prone to errors and fraud.

● In-person visits & verification processes resulting in higher costs and longer TAT that results in high drop-offs

These challenges had a detrimental impact on customer experiences, operational efficiency, and compliance standards.

How Video PD Solves the Interaction Conundrum

Video PD acts as the bridge that overcomes these challenges. It enables businesses to engage with customers remotely, breaking geographical barriers and fostering personal connections through real-time video conversations. It saves time, money, and resources by eliminating dependency on physical equipment and expediting verification processes while boosting operational efficiency and compliance standards.

Here are some other benefits:

● Seamless and personalized customer experiences.

● Optimization of resources and streamlined verification.

● Reduction in the likelihood of fraud and enhanced compliance.

Use Cases of Video PD

Let's explore some real-world use cases that demonstrate the practical applications:

● Personal discussions for loans: Real-time evaluation of the borrower's creditworthiness and the purpose of the loan.

● Account Opening: Remote verification, simplifying onboarding for customers and institutions.

● Customer Support: Face-to-face interactions, convenient assistance from home.

● NRI/NRE Onboarding: Onboard without being limited by geographical boundaries.

● Remote training for agents: Improve agents' knowledge and skills from home.

● Review calls and exit Interviews: Reviews and exit interviews conducted through Video PD

● Insurance claims service: Insurance claims with discussions and evidence gathering through video.

Perfios Video PD

The most sought after solution by pre-eminent banks and financial institutions in India, Perfios Video PD is the state-of-the-art solution that smoothens customer discussion and document collection process.

Every remote meeting with your customer will be just as meaningful as face-to-face with Perfios Video PD. The solution comes packed with features like:

● Real-time media capture

● Accurate geo-tagging

● Image and Video capture

● Document Upload, OCR & Verification

● Real-time passive face match

● Easily configurable questionnaire and document list

● And so much more….

This is all you need to complete an interaction, collect documents, conduct a real-time verification with your customers. It's so seamless that your customer satisfaction is bound to take an upward leap!

Your Gateway to Personalized Customer Interactions

In conclusion, Perfios' Video PD is a revolutionary tool that exemplifies the power of personalized client interactions in today's digital age. By transcending geographical barriers and traditional verification techniques, businesses can forge stronger connections with their customers. Embracing this cutting-edge technology not only streamlines operations but also creates a sense of trust and rapport that sets firms apart from their competitors.

As the business landscape continues to evolve, incorporating such innovative solutions becomes essential for companies to thrive and flourish. Perfios' Video PD offers a gateway to better customer experiences, increased satisfaction, and a bright future for businesses aiming to reach new heights of success. So, let's embrace this powerful tool and redefine the way we engage with our clients, leading the way to a more connected and prosperous tomorrow.

To inquire more about our solution click here

About Perfios:

Perfios Software Solutions is India’s largest SaaS-based B2B fintech software company enabling 900+ FIs to take informed decisions in real-time. Headquartered in mumbai, India, Perfios specializes in real-time credit decisioning, analytics, onboarding automation, due diligence, monitoring, litigation automation, and more.

Perfios’ core data platform has been built to aggregate and analyze both structured and unstructured data and provide vertical solutions combining both consented and public data for the BFSI space catering to their stringent Scale Performance, Security, and other SLA requirements.

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