Description: The article is about boc login. Bank of Montreal is one of Canada’s largest financial institutions. This passages talks about how Bank of Montreal uses Telepresence to transform customer experiences across the country.
BMO has been a front-runner in terms of efficient use of technology for business benefits. They are on the business with providing remote expert. Initiated by the CEO, they went into trials, they led into a very efficient broad rollout. From working with banks around the globe, we can see that there’s a clear opportunity to create competitive advantage from being an innovation leader.
We want to bring the best of BMO to every client interaction. Virtual advisor is a natural extension of that. Customers are using video a lot in their personal lives, it’s a natural fit to expect this from their bank. They can come in to their branch, they can see an expert in the branch or see an expert over telepresence. Remote expert is innovating around the customer experience.
From a customer’s perspective, telepresence is one way to connect them into our organization. We can’t distribute our experts everywhere throughout our entire network across the country. This enabled us to connect people both branch to branch or branch to call center.
We can have immediate access. In the past, our experts especially the wealth business experts who were often located into more remote areas needed to fly to elsewhere. Telepresence allows us to get those experts to our clients faster at the clients convenience.
When you have a model, relationship building is completely. It’s lost on the telephone, it’s lost in email. The telepresence is helping us connect with our clients. It’s a simple transition. You can go into a meeting room with telepresence in it, they would connect with another expert across the organization.
It’s an extension of what we offer and how we connect our employees to our clients, we’ve deployed it across a number of areas in about 50 locations. We started with the financial planners who provide a financial planning capability.
We’ve also extended it to investment advisors who provide investment advice to customers. We have extended it to small business bankers, they are providing specialized expertise to our small business customers and even to our commercial account managers.
This was an obvious move for the Bank of Montreal. They had experience with telepresence inside the organization, they saw the benefits. Their executives saw the benefits. Taking their internal experience out to their customers was an absolutely natural thing.
Once they got a hold of an understanding of how sessions went and how to set up the calls, it became very easy, it integrated into their process. They were a little bit nervous at first. Any change takes time to get used to. They thought looking at a TV screen would be a little bit uncomfortable or impersonal, but the technology quickly went into the background, it was about connecting people. Once they got engaged with the technology, once they saw its benefits, they eventually came around.
Our customers are very happy with the technology, it enables them to get connected with information, our customers are responding by saying thank you. You provided a great service and it makes the customer experience even better. One of the lessons about any innovation is to not get too hung up on the concept of having a defined ROI at the beginning.
We want to put the technology in, we want to start to learn and understand what works and what doesn’t work, we want to learn how to maximize its effectiveness. We have a key lesson. Within the wealth business, we are very interested in this space, we are followed very quickly by our partners in our retail and commercial bank, we are followed by capital markets, we are followed by our other internal groups.
In the organization, each individual group was actively going after and thinking about it until we have discovered each other and then began to make connection with each other. We want to connect our infrastructure group to ensure that we were able to maintain as a stable environment as we move forward.
Don’t be overly cautious about customers concern. You should engage your customers about technology, you’ll learn about what they like and what they don’t like.
You have to work with the sales professionals or service professionals, they’re going to leverage that technology and help them see the benefits, they are going to help them see how it’s going to increase their productivity and make their lives different and more efficient.
Once you’ve done those things, it starts to take off, it’s almost wild. Ultimately, this will be customers speaking to their banks from their homes or from their offices or from small businesses. It has to start initially in the bank branches so you can control the customer experience and you can control the various different elements of it.