87% of FinServ Professionals Say Their Tech is Outdated

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February 23, 2022

89% suppose sending video messages can be extra impactful than textual content when working distant, however solely 35% are at the moment outfitted with the instruments to do this

KITCHENER, Ont. – Feb. 23, 2022 – In keeping with the second a part of a future of labor examine launched as we speak by Vidyard and Atomik Analysis, 87% of economic companies professionals mentioned that their know-how at work is in “the darkish ages.” Respondents additionally mentioned that the corporate they work for could possibly be extra tech savvy if it weren’t for compliance division pink tape. The findings have been included within the report titled “The Way forward for Work in Monetary Companies: Distant or In-Workplace? The first a part of the examine was launched in January 2022.

Whereas a standard criticism, the findings come at the same time as firms proceed to undertake indefinite distant work insurance policies and speed up digital transformations in response to the pandemic and altering office tastes. The truth is, professionals throughout industries are seeing that clients are comfy with digital conferences and video messages.

Certainly, 89% of economic companies professionals surveyed mentioned that video messages can be extra impactful than conventional textual content emails when working remotely. And 40% of respondents report that almost all of their clients have transitioned to a distant work mannequin. 40 % additionally discover in-person conferences to be misaligned with how they usually do enterprise. However, with IT caught in “the darkish ages,” solely 35% of economic companies professionals are at the moment outfitted with the instruments they should do video messaging.

To raised perceive the evolving preferences of economic companies professionals in as we speak’s remote-first enterprise world, Vidyard and impartial market analysis agency Atomik Analysis performed the examine with greater than 500 monetary companies professionals, between Nov. 22-26, 2021. Respondents have been requested about altering relationships with clients, how know-how is impacting their companies, and the affect of video on their work.

“Amid the continued pandemic, clients are discovering that digital communications are efficient and enhancing relationships,” mentioned Tyler Lessard, vp of selling at Vidyard. “Our examine discovered that monetary companies professionals overwhelmingly really feel that when empowered with video instruments, they will create higher connections than they ever might within the previous in-person assembly world. The previous 18 months have taught us that, when given the appropriate know-how, monetary companies execs can advise their shoppers and drive engagement remotely simply as a lot as they’ve in-person.”

Change in Enterprise Tradition

Total, monetary companies professionals mentioned that they really feel extra assured working from dwelling versus working within the workplace, whereas additionally having the ability to construct higher shopper relationships. The survey discovered:

  • 66% of respondents mentioned they’ve gotten to know shoppers or clients, distributors and companions (50%), and management (42%) higher by interacting by way of video extra typically.
  • 57% of economic companies professionals working remotely through the pandemic mentioned working from dwelling makes them really feel extra assured in comparison with working within the workplace.
  • Greater than half (54%) mentioned working from dwelling makes them really feel extra impartial.
  • 38% mentioned they often really feel ignored after they take part in conferences remotely.

Expertise Choices Decide the Work from Dwelling Expertise

Using collaboration instruments and video know-how has been a game-changer that’s made working from dwelling really feel seamless. Nonetheless, many monetary companies professionals suppose that their workplaces nonetheless supply outdated applied sciences. The examine discovered:

  • 80% of respondents indicated their group saved cash by transitioning to a enterprise mannequin that depends on digital conferences slightly than in-person conferences.
  • 1 in 2 respondents mentioned incentives tied to the adoption of latest enterprise applied sciences, similar to offering workers with respectable coaching on new enterprise applied sciences, would result in extra widespread adoption of latest applied sciences inside their group.
  • 81% of respondents point out that entry to know-how for digital promoting is the #1 must-have for his or her work within the yr forward.

Extra Data:

For extra insights and to dive deeper into the information, please obtain the second report, The Way forward for Work in Monetary Companies: Distant or In-Workplace?

Methodology:

Vidyard commissioned Atomik Analysis to conduct a web-based survey of 503 monetary companies professionals with gross sales, advertising and marketing, human sources, or shopper companies associated job capabilities all through North America (Canada and the USA.) Monetary companies professionals within the pattern are outlined as adults who work full-time throughout the monetary companies, insurance coverage, banking, investing, and wealth administration industries.

The margin of error for the general pattern is +/- 4 proportion factors with a confidence interval of 95 %. Fieldwork befell between Nov. 22- 26, 2021. Atomik Analysis is an impartial market analysis company.

About Vidyard:

Vidyard is the main video platform for companies. Greater than 200,000 distinctive companies use its video messaging and video internet hosting instruments to interact their clients and prospects extra successfully. Vidyard allows enterprises throughout excessive tech, SaaS, monetary companies, skilled companies, and different industries to make use of asynchronous video to rework their strategy to distant gross sales, advertising and marketing, and customer support. Enterprise professionals can use Vidyard all over the place they work, on any digital platform, to create and share customized movies to ship their message in a extra private and impactful manner by way of its free and professional instruments. Join Vidyard free of charge: /free.

Media Contacts:

  • Josh Swarz, Large Valley Advertising for Vidyard – press@vidyard.com
  • Sarah Duckett, Public Relations & Communications, Vidyard –duckett@vidyard.com

Sarah Duckett

Head of PR & Communications

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