By Poorna Nayak | Dec 07, 2021
EnrichVideo launched "Do It Yourself" features to its platform at the Singapore Fintech Festival on 10th November, 2021. The product showcase demonstrated how banks and wealth management firms can now easily get superior ROI with their existing videos. Banks can now launch campaigns within seconds. All they need to do is upload their existing product video or market commentary, add call to action buttons asking feedback from their clients and then launch a new campaign.
Speaker 1 (00:00)
Hi, I'm Poorna Cofounder of EnrichVideo. I'm excited to be doing this presentation today at Singapore Fintech Festival. Let me start with the problem I faced when I started investing. I realized finance is complex. Imagine you're new to investing and your advisor talks to you about complex structured products, funds, investing in low beta stocks and what not? And then I would get these long PDF reports that I could not even read on my mobile phone. I felt finance should be simple and engaging. Coming to the banking industry, all of you must be aware that very few clients are reading the long PDF reports and documents you are sending. To grow their business banks rely heavily on in person meetings between relationship managers and HNI clients.
Speaker 1 (00:47)
With this pandemic, even those meetings are not happening. All of us are tired of long Zoom and teams video calls. Same is the case with RMs and HNI clients. That's where EnrichVideo comes in! We all know how super engaging short form videos are. Why not short form videos for finance? And that too, in a personalized and interactive format. Imagine receiving a product note as a video made just for you. It's like a friend talking to you. That's what EnrichVideo does. We take complex financial data and create short, engaging videos.
Speaker 1 (01:23)
I will now show you a product demo.
Speaker 1 (02:40)
This demo was about one of the popular use cases where we send a portfolio update along with the product offer customized to the HNI client. We have seen that financial product offers work better when it's combined with information the client is looking for, which in this case is a portfolio update. So how does this work? EnrichVideo is all about converting complex financial data into short, engaging videos. We create thousands of such videos personalized for each and every client of a bank, wealth management firm, or an insurance company.
Speaker 1 (03:14)
Not only are these videos personalized, but they are made interactive with call to action buttons placed within these videos to capture client preferences and feedback. Some of the popular EnrichVideo use cases are portfolio updates, personalized insurance reminders, new product recommendations to name a few. There are two parts to creating these videos. One is the data input and the other is the video template. The data can be provided in the form of simple excel sheets. We also read data from popular web platforms like Avaloq, Temenos, Finacle and also popular CRMs like Salesforce or your custom CRM tools.
Speaker 1 (03:53)
The second part is the video template. Individual client data gets overlaid with the video templates to dynamically create personalized interactive videos. We are happy to announce the launch of “Do It Yourself” videos on our platform. If you have a video that you want to personalize and add call to action buttons to capture client feedback, it is now very easy to do with EnrichVideo. All you have to do is upload a video and select the personalization like client's name, offer value et cetera. Then you can select the interactive buttons and the action that needs to happen on click of these buttons.
Speaker 1 (04:30)
For example, you might be sending a monthly market update to your clients as a YouTube link. With a YouTube link you're not sure which of your clients have watched these videos. Also, you miss out on the opportunity to capture clients response, be it asking for more details or if they have questions. By creating these videos using EnrichVideo, not only can you personalize this market update, but you also get an opportunity to capture client feedback. You might wonder if this works for HNI clients. We have worked with different segments from the mass affluent to private banking clients.
Speaker 1 (05:06)
The response rate from HNI clients has always been upwards of 27%. In this context, response rate means that if 100 clients watch the video, 27 clients will respond to the product offer or click on one of the call to action buttons within the videos we have seen these response rates month on month. The top wealth management firms in India are using EnrichVideo. Some of the top banks in Singapore are using EnrichVideo and the results are impressive. This is how we help some of our customers engage with their clients during this pandemic.
Speaker 2 and 3 (05:41)
“During this specific phase where the relationship managers could not meet their clients, it was very important to have them being able to engage innovation such as video statement, which were first in the industry to be adopted by IIFL Wealth has added immense value for our clients in keeping abreast with their portfolio. We found that more than 10% of the clients who had watched our videos willing to refer their friends to us.”
Speaker 1 (06:06)
Let me talk a little bit about how we can get our solution working with your data. We offer a EnrichVideo in three options for you to choose from - our cloud, the bank or wealth management firms private cloud and the third option is the legacy infrastructure that the bank might be using. All the data on our platform is encrypted, ensuring data Security in all three options, we are ISO 27,001 certified and I can assure you that we offer enterprise great security in all three options. Our platform is designed for relationship managers or insurance agents and their clients.
Speaker 1 (06:43)
We learn and improve from client behaviors. We bring in deep client insights. The pandemic has accelerated the need to go digital in a big way. We believe the future of customer engagement is personalized experiences and video is going to play a major role in it. On behalf of the EnrichVideo team, I thank you for joining this session today. We would be happy to answer any questions you may have. You can also meet our team at the EnrichVideo booth. Thank you. Bye.