Eltropy embeds video banking into Unified Conversations Platform
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Eltropy's platform-backed Video Banking allows CFIs to deliver secure, face-to-face banking services anytime, anywhere, turning any device into a virtual branch while maintaining the personal touch that sets community institutions apart.
Building on the 2022 acquisition of POPi/o, this full integration of video banking into the Eltropy platform represents a significant milestone in Eltropy's digital-first strategy, positioning Eltropy Video Banking as a core component for CFIs looking to consolidate channels, reduce vendor complexity, and improve the member and consumer experience.
"What started as a pandemic necessity has become a competitive advantage for community financial institutions," said Ashish Garg, Co-Founder & CEO of Eltropy. "Our customers are seeing remarkable results – from 84% growth in booked loans to 70% reduction in lost opportunities. The key is that Video Banking isn't replacing personal service, it's extending it. CFIs can now deliver that same high-touch experience whether someone walks into their lobby or connects from their kitchen table."
Addressing the Digital Expectations Gap
Consumer expectations continue to drive demand for video-enabled financial services. According to Twilio's 2024 State of Customer Engagement report, 76% of consumers expect to interact with brands through video as easily as they would through phone or chat. This shift reflects broader adoption of video for essential services across industries – from filing tax returns with the IRS to telehealth consultations – making video banking a natural extension of services consumers already expect and use.
Video banking addresses real challenges faced by both CFIs and their members. For members and consumers, it eliminates barriers like travel time to branches, or serving members who have relocated or live in underserved areas where physical branches aren't present. The platform also allows CFIs to instantly connect customers with interpreters during video sessions, ensuring language barriers don't prevent access to financial services. For CFIs with limited budgets, video banking enables them to offer specialized consultations beyond standard branch hours without requiring additional staffing at every location, while consolidating expert resources to support multiple branches virtually.
Eltropy Video Banking addresses these evolving needs through two powerful deployment models:
Remote Video Banking – provides on-demand and scheduled video appointments, allowing CFIs to serve consumers anywhere without geographic limitations. The solution supports complete end-to-end workflows for remote loan applications, account openings, document collection, identity verification, and e-signature capabilities.
In-Branch Video Rooms – virtualize experts across all branch locations, enabling every branch to access specialized services like lending, account opening, general consumer services, business banking support, or investment guidance by connecting with centralized specialists.
Comprehensive Banking Workflows in One Platform
The all-new Eltropy Video Banking solution offers extensive capabilities designed specifically for financial services:
• Identity Verification & Compliance: Built-in ID verification and secure session recording with full audit trails
• Document Management: Real-time document collection, sharing, and e-signature capabilities during video sessions
• Secure Communications: End-to-end encryption, OTP-based session access, and comprehensive session logging
• System Integration: Full compatibility with core banking systems, lending platforms, and existing digital banking infrastructure
• Multi-Channel Continuity: Unified experience across text, voice, chat, email, and video communications
The platform allows staff to share screens to walk customers through forms or processes, while conferencing and transferring capabilities allow institutions to bring in interpreters or specialists live during sessions. This comprehensive approach helps resolve issues in a single video session versus multiple phone calls, improving both efficiency and customer satisfaction.
Proven Results Across Customer Base
Early adoption and migration results demonstrate significant business impact, with mortgage consultations representing the most common use case on the Eltropy platform – as CFIs leverage video to guide customers through complex loan applications and documentation processes. Customer outcomes include:
• Resource One Credit Union: 84% growth in booked loans
• Xplore Federal Credit Union: 60% increase in new account openings and 70% reduction in lost opportunities
• TruWest Credit Union: 240+ consumer hours saved through faster resolutions
• Carter Credit Union: 70% reduction in abandonment rates across 13 locations served
"Eltropy video banking has really been a lifeline for our branches,' said Jeremy Deamer, Branch Technology & Innovation Manager, America First Credit Union. 'The solution has been particularly powerful for expansion. When we opened a location in San Bernardino through a merger, we installed a kiosk and never needed traditional branch staff. All lending, teller transactions, and new account openings are handled seamlessly through video banking."
Video banking also provides critical business continuity during disruptions such as natural disasters or severe weather events, ensuring CFIs can maintain service when branches are closed or operating with limited capacity, while allowing staff and customers to connect from anywhere.
Security and Compliance Framework
Eltropy Video Banking incorporates enterprise-grade security features essential for financial services, including cloud-based video recording with no local storage risks, multi-factor authentication, and full compliance with SEC 17a-3/4 and FINRA 3110 and 2210 requirements. The platform provides end-to-end encryption with customizable retention policies and secure data export capabilities for audit purposes.
Strategic Platform Integration
The integration emphasizes Video Banking's role within Eltropy's broader Unified Conversations Platform, which combines communication channels with AI-powered automation, workflow management, and comprehensive analytics. This integration allows CFIs to consolidate vendor relationships, improve operational efficiency through AI assistants and automation, deliver better omnichannel experiences with smooth transitions between communication channels, and scale service delivery without expanding their physical footprint.
Availability and Implementation
Eltropy Video Banking is available immediately as part of the Unified Conversations Platform. The company provides comprehensive onboarding support including dedicated implementation management, customized training sessions, and 24/7 technical support through Eltropy's customer success organization.
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