Ready for a Virtual Platform? Keep Security Front and Center

2020 has proven to us that virtual is essential for survival. And it is not likely going to ever be the same again. Is your financial institution bracing that change? If not, what is stopping you?
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Ted Clouser

2020 has proven to us that virtual is essential for survival.  And it is not likely going to ever be the same again.  Is your financial institution bracing that change?  If not, what is stopping you? 

There is a pretty good chance that security could be a large part of your hesitation.  With the proper solution, you can rest easy knowing that it is more than just encryption that is considered.  With the technology available today, visual communications are now both ubiquitous and affordable.  Because you are always being targeted, solutions must factor in authentication, segregated management, firewall traversal and multiple levels of encryption to assure your communication is private and your information is kept safe. 

I can go into all the technical details, but I will keep this article at a much higher level.  If you are considering pursuit of this technology, I welcome a conversation to go more in depth of all of the compliance, security and governance specifics so that you can rest easy knowing this is worth the investment and that the risk is far less than it used to be. 

Interactive Teller Machines (ITMs) introduced video as an advanced solution within the past decade.  The next generation of video interaction with customers takes it all the way to the mobile device.  Now, more than ever, we recognize what we have been discussing since the millennial generation pushed for it – we must enable our mobile technology to meet the demand of the future customers. 

If the security is truly there, we must accept that we need a secure method to see our customers and do business with our customers.  My daughter is 20 and I am not sure she has ever been inside a bank.  And rarely does she go through a drive through to interact with anyone.  With mobile pay apps and virtual money, we must develop opportunities for community institutions to hold the relevance that we all know they have. 

The answer is a mobile solution the provides virtual meeting rooms, hosting facilities, secure calls, and transactions.  Just as the healthcare industry has accepted telemedicine, it is essential for community banks to accept telebanking.  This is far more than a mobile app that allows someone to check their balances and do rudimentary tasks.  It involves every method that community banks have used since their inception to make them leaders in the industry. 

Are you ready to innovate?  To lead?  To extend past the brick and mortar, web integration, teller lines and even past the ITM?  It is time!  The risk is far less than it used to be and the reward is huge. 

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