In 1912, found of the Republic of China, build up Bank of China (BOC) and BoC has more than 100 years history. In the end of 2011, Bank of China has a total of 10,951 domestic and foreign institutions, among them, 10365 institutions in the Chinese mainland, and 586 institutions in Hong Kong, Macau, Taiwan and other countries. In the commercial bank part of China mainland, BOC has 37 primal branches, 296 secondary branches and 9,891 grassroots branches.
This project is the first time innovation application for banking. Huawei provides a integration solution with IPCC, multimedia, collaboration, innovation self-design terminal and etc. With this innovation solution, Huawei helps BOC Shenzhen Branch replace traditional transaction service with VTM, help banking release more human resource for more value-added service. In additional, more and more consumers recognized VTM and like self-service on VTM.
In recent years, branch transformation is mainstream trend for traditional branch. Due to service cost of low value of transaction service is very expensive. Banking try to migrate these services into e-Channel such as internet banking, mobile banking and etc. but there are still lots of issue list below:
• Inherent behavioral habits
Lots of consumers still want to go to branch to process service with agents via face to face which make them feel reliability.
• 5*8 limitation
The service time of traditional branch is only 5*8, and lots of office worker cannot go to branch so that they have lots of complain.
• Inability to concentrate resources, service costs are expensive
There are lots of agents distributed in different branches which cost very expensive and these services cannot provide addition profits for banking.
To meet banking requirements, Huawei provided innovative solution: VTM (Virtual Teller Machine) with the following features:
• HD Video Tech
Huawei solution integrated HD video tech which make video communication between end user with agent in background which meet consumer face to face communication requirements and also unified traditional counter agents.
• Collaboration Tech
The agents in background can help and guide end user finish service process.
• Intelligent Route Tech
In Huawei solution, Huawei use intelligent route tech in IPCC to realize dynamic assign agent resource for VTM and front-end user. This is different with other vender due to they can only support 1 to 1 service model which cannot save agent resource. With Huawei innovation VTM solution, Huawei can help banking:
– Migrate nearly 90% traditional counter service into VTM to save more counter agents to join value-added service.
– Extended service time from 5*8 to 7*8 to provide more service for main stream consumer such as office workers to improve consumer satisfaction and loyal.
– Provide an open architecture for third-party and banking to self-define different service running on VTM according to requirements.
This innovation solution provided following commercial values for BOC Shenzhen:
• Improve the efficiency of E-channel, Reduce channel cost
Along with the rapid development of information technology, the trend of the banking industry development is investing more in the construction of electronic channels, providing a variety of services from electronic channels are gradually replacing the bank outlets physics counter service. Bank of China has been committed to improve the performance of electronic channels, and constantly explore
emerging technologies to reduce distribution costs
• New channel, extension of counter service
Branches of Bank of China in Shenzhen have become saturated. Building new outlets is very difficult. VTM is a new channel between counter service and the electronic banking service. With HD video, authentication, and other means, the customer can talk with banking service employees, make business process directly. It was an extension of the counter service.
• Gradual transition easy things first
The customer front-end services and bank processing center are under construction simultaneously, implemented part of the counter business, and embedded with some self-service.
After the constitution, relying on the bank centralized processing center’s operation, to achieve further docking of the VTM system and the bank’s core system and non-cash counter business.
• Applying new card as first business to get more customers
Applying new card is the primary business in this construction to help BOC get more customers firstly.
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Source: Huawei Enterprise Blog