The Transformation of Video in Financial Services

It’s no secret video is king — from the explosive growth of video content platforms like Tik Tok to the shift to hybrid work models post-COVID-19, the average consumer watches 84 minutes of video content per day. As a result, businesses of all types and sizes have turned to video as an easy-to-digest, entertaining, and accessible medium to connect, educate, and meet the needs of today’s consumers. For financial service organizations, video has been increasingly important in this relationship-driven businesses. Many organizations turned to video to replace normal conferences, networking events, client meetings, and more to maintain deep, personal connections with clients, prospects, and partners. 84% of financial services organizations are overwhelmingly creating more video across departments and have no plans of slowing down.

The Challenge of Cloud Video Production

While this change is desperately needed and requires quick scaling, it offers intense technical challenges. Financial services teams face obstacles like time constraints, budget constraints, limited bandwidth, overly complex processes, and the lack of in-house capabilities. With a whopping 90% of these organizations operating remotely or in a hybrid model, it’s an even more intricate challenge to record, produce, and distribute video content in these operating models. For departments across financial sectors — wealth management, PeopleOps, marketing and communications, and creative services — band-aid solutions to video content creations only last so long. Despite these intense challenges, 92% of financial service employees said their company would create more video content if technology made it easier without requiring prior video expertise. Enter cloud technology as a potential solution.

How to Scale a Mature Video Strategy

Research shows that streamlining the remote video production process through cloud technology and empowering more teams to produce their own videos independently will be critical to overcoming process challenges and meeting bold video goals. Remote video production platforms emerge as a fast, cost-effective way to remotely record, produce, and live stream TV-style, broadcast-quality video.

Download “The Transformation of Video in Financial Services”

Check out GlobalMeet Webcast and Socialive’s free guide, “The Transformation of Video in Financial Services,” to learn more about developing a clear video strategy, empowering video creators, and creating more dynamic content across the finance industry. This guide will offer potential solutions in the form of platforms like Socialive to streamline and scale video production without expensive hardware, complex platforms, or additional team headcount. For Enterprise and Fortune™ 500 companies, GlobalMeet Webcast is the global standard for live webcasting and video streaming.

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