What is the future of multimedia technology in branch banking?

ROBERT HILL Senior vice president Mellon Bank Corp. Pittsburgh

TO US, MULTIMEDIA IS THE combination of paper-based merchandising with what we refer to as site-addressable video merchandising. The combination is more powerful than one kind of merchandising by itself.

There are three basic ways we use site-addressable video in this branch of the future. One is as a marketplace channel. For example, in the teller area we have a TV monitor beaming in information like news and entertainment interspersed with banking promotional messages. The second way we use video is as a destination channel. We literally have a small theatre within this branch. The theatre has a very large video screen where we broadcast specific informational programming for customers to educate themselves on topics like, "What is a variable annuity?" A third use of video is as a staff channel where we use the monitors for interactive training, sales meetings, and communications pieces that we beam into the branch.

MICHAEL E. JENNINGS Senior vice president Boatmen's Bancshares St. Louis

I THINK IT'S IMPORTANT TO MAINTAIN a face-to-face relationship at the branch. The problem I see, though, is that bank product offerings have grown so substantially over the past five years that we can't expect personal bankers to be knowledgeable enough to sell all the products and services that are out there. At the same time, I also think it's important to fulfill customers' needs without asking them to reschedule an appointment with a product specialist. My vision is to see the personal banker working with a customer at the branch. The banker would pull in specialists from investments, trust, mortgage, or insurance into a live three-way conversation right there at the terminal. I also see opportunities for off-premises multimedia applications. A good example would be bank-at-work applications where you would be providing natural convenience to customers. Instead of going out to visit a bank, they could choose to use an advanced capability automated teller machine.

KENNETH M. MORRIS President Seigel & Gale New York City

AS THE DEMAND FOR MORE frequent and customized information continues, a huge shift is taking place in financial services both on a retail and business-to-business basis. End-users are going to be given the access to the information they want when they want it. The only medium available for doing this is interactive multimedia.

One of the issues that banks will confront is how to create a uniform, consistent standard and an easy-to-use interface that allows people access to this information in a consistent way so they don't have to relearn different methods of accessing information every time they use a different entry point. The other issue organizations don't seem to be thinking about is how to maintain the voice of the company in digital environments. In print and TV, they are careful to promote and maintain their identity in the use of logo, type, and signage. The same consideration is going to have to be taken when it comes to multimedia.

THOMAS F. LEONARD Director of multimedia services Inteco Corp. Norwalk, Conn.

BANK BRANCHES MUST PROVIDE customers with access to experts. This is where new technology can and will play a major role. I envision banks with some sort of advanced automated teller machines capable of processing much more detailed information. At ATMs, customers will be able to set up retirement accounts and get preapproval on loans. I also see video conferencing at the branch itself.

The only way to shorten loan approval spans, in fact, would be through some sort of video conferencing link. I believe that most branches will develop and install these links -- probably in the bank manager's office or conference room. Banks will provide access to experts and reduce the time for approval especially in the case of small business loans and personal loans.

TODD RULON-MILLER Chief executive officer Software Alliance Corp. Berkeley, Calif.

MOST CONSUMERS DON'T HAVE personal computers at home to link them to their branch. That's rapidly changing, but it will take some time. Secondly, I'm not sure there is a network infrastructure for multimedia with all its bytes and information. But once you get a whole bunch of PCs out there, it may change. I have questions about software too. If you have kids and you see this CD-ROM stuff coming out, you know it's fairly creative for a 5- or 6- or 7-year-old. But I don't think a lot of thought has gone into the application software that would, in a compelling way, offer the consumer a route to do banking better than what we have now.

JERRY SCOTT President Redwood Empire Datacorp Santa Rosa, Calif.

I WOULD DEFINE MULTIMEDIA AS audio and video, plus data and software. I think the greatest use is on the new accounts desk where you have customers and you want to give them a very robust type of presentation of products, services, and facilities. Multimedia can be used to cross-sell by a live representative or at a "nonperson desk" where a customer could access product information via CD-ROM. In terms of the branch and running an office, the only other use I could see is in training branch personnel.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER