In this era of online markets, people feel more and more comfortable buying products and services online, however, doing the same for the banking turns out to be a problem. Online banking remains a sensitive because it involves sensitive information and wealth. People face trust issues while transacting online due to lack of enough human interaction. Online banking has been made extremely efficient and accurate by providing customers with everything they want on their screens. However, opening an account online is far more complicated than buying shoes online. Therefore, customers require a great deal of guidance in order to complete complex processes required for online banking.

Applications like video chat and co-browsing help the bankers respond instantly to their customer’s queries and guide them through complicated transactions online. These applications let the bankers provide customers with a real – time and an in – store experience. Since customers can see and talk to the bankers directly, they start trusting them. According to, Live Chat for Banking: increase Trust With Video Chat, globally, 7 in 10 consumers and 92% of bankers are comfortable communicating using virtual technology. Most of them would like having access to their accounts online but wouldn’t go for any further complicated transactions without assistance.

Video Chat and Co-browsing make customers feel secure and convenient while transacting

These applications are modern solutions, with the help of which, agents can not only provide advice and guidance to new customers but also retain old customers by satisfying them. Great customer service plays a great role in customer retention. This leads to more conversions and sales for the sector.

Here are a number of benefits that applications like video chat and co-browsing provide to the banking industry:

  • Builds trust and goodwill: Once the customer knows that an agent is handling all of his personal information on the other side securely, he will start trusting the agent and go on to complete even more complex and complicated transactions.

  • Reduces call handling time: According to, Co-browsing presents a lucrative customer service opportunity, co-browsing can significantly reduce call handling times and push agent utilization by 4.7%. It also improves first call resolution and increases customer satisfaction scores.

  • Increases conversions and sales: With the use of co-browsing and video chat, issue resolution becomes fast paced. This leads to satisfied and happier customers. When customers are happy and satisfied with the bank, they tend to transact bigger and better. They also use word – of – mouth to tell others how the bank is treating them well.

  • Better solutions: When the agent keeps conversing with the customers via video chat or co-browsing, the details and preferences of all customers get saved and noted down. This helps the banking agents in providing specially tailored solutions and services to each of their customers, with their personal choices kept on priority.

Video chat and co-browsing prove to be the ultimate tool for the banking industry as it not only helps in improving the customer service, but these services also improve efficiency of the banks since customers can convey their preferences to agents directly and from anywhere.