Development of a Virtual Banking & Insurance Remote Access Platform

Limited availability and accessibility of remote banking and insurance services hinder customer experience. Issues include geographic restrictions, limited appointment flexibility, interruptions (such as account suspensions abroad), and insufficient digital channels for seamless client interactions, affecting customer satisfaction and operational efficiency.

A large financial institution seeking to enhance remote customer engagement and service accessibility through a video banking platform.

• Develop a secure, scalable video banking platform enabling remote interactions for banking and insurance clients.
• Improve accessibility and flexibility of remote services, reducing geographic and temporal constraints.
• Streamline staff and client workflows through integrated user journey mapping and process optimization.
• Accelerate deployment cycles by adopting proactive discovery and iterative development methodologies.
• Achieve high usability standards confirmed through continuous testing and stakeholder feedback.

• User registration and authentication with role-based access controls
• Integrated video communication engine enabling secure live video sessions
• Customer journey mapping with specific user flows and action tiles
• Real-time data sharing and screen sharing capabilities
• Workflow management tools for customer service representatives
• Support for multi-channel communication including chat, notifications, and document sharing
• Backend integration with core banking and insurance systems for transaction processing
• Administration dashboard for monitoring system performance and user activity

• Core banking systems for account management, transactions, and verification
• Insurance policy management systems
• Identity verification services (KYC/AML)
• Notification and messaging services
• Security and compliance monitoring tools

• System scalability to support at least 10,000 concurrent users
• 99.9% system uptime with disaster recovery protocols
• End-to-end data encryption to ensure security and privacy
• Response time under 2 seconds for core user interactions
• Compliance with relevant banking and insurance data regulations

The deployment of the video banking and insurance platform aims to significantly enhance customer experience by providing flexible, remote access to services, leading to increased customer satisfaction, reduced operational costs, and improved service penetration. Early MVP deployment could accelerate time-to-market while continual discovery ensures alignment with evolving client needs and regulatory standards.