Summary
Desktop video conferencing as a marketing tool for mortgage lenders
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Desktop video conferencing may not strike many lenders as crucial technology to compete in the market today. But a surprising number of lenders are using it with remarkable success. Some say it could prove a strategic requirement in the not too distant future.
In today's competitive market, banks and lenders are moving aggressively to tap retail market channels previously considered marginal in order to retain and increase market share. Lenders are concentrating their efforts on providing more services through Realtor offices, small retail lending branches and even grocery stores and malls, in an effort to be the first to grab the customer. Recent advances in PC technology, such as enhanced PC processing power and the availability of high-speed telecommunications lines, have made desktop video conferencing (DVC) a powerful point-of-sale tool. DVC is a PC technology that is creating greater lending opportunities with improved reliability, flexibility and efficiency. The increase in PC processing power and the standardization of video compression techniques will make desktop video conferencing less expensive and easier to deploy. PC processing power is increasing rapidly, which is making video over non-ISDN lines more of a reality. Using non-ISDN lines will make DVC available in more places at less cost. Because video compression techniques are becoming more standardized, companies such as IBM and Compac are shipping desktop systems with special chips and processors specially designed to support video conferencing. These standard video loads will mean users will be less likely to require special equipment to support DVC. The result will be a decrease in the cost of DVC. With these advances, it is easy to compare the evolution of DVC wit...See the full content of this document
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