RFi GROUP INSIGHT
Anyone who uses social media will have noticed the developments on their Facebook and Instagram accounts which allow users to share, sometimes live, videos of themselves to their friends and followers. We’re seeing more travellers and bloggers capturing their moments with collages of pictures and videos. Long distance relationships with family and friends are all touching base using video chat over the internet rather than settling for traditional voice calls. Even in the office, we’re using video conferences and sharing screens to project our ideas more effectively and efficiently.
Singapore, with the top 4 local banks dominating 94% of the share in main bank relationships, is due to the dominance of DBS which, along with its no frills brand POSB, continues its push as the innovative leader.
The infusion of video’s heightened personalisation and service with a key distribution channel like the ATM supports the concept of collaboration across business units contributing to a rising net promoter score (NPS) in Asia’s banking industry. When looking at the NPS for ATMs among main banks in Singapore, DBS/ POSB is already ahead of the pack, driven by the number and locations of its ATMs. Loaded with infrastructure, it will be interesting to see how much of a boost the enhanced engagement provides to DBS service metrics and business performance. Even more interesting will be the next wave of video banking technology that comes after this and where it may end up as it’s on the ATM now but I have a feeling it may end up in my pocket.
ATM NET PROMOTER SCORE By main bank
Source: RFi Group Singapore Priority & Retail Banking Council 16H2
06 TABM - RFi MEDIA
An RFi Group Publication