White Paper - How Video Delivers ROI for Today’s Financial Services Industry - Panopto Video Platform

www.panopto.com855.PANOPTO$ How Video deliVers roi For Todays Financial services indusTry

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Panopto creates software that enables businesses and academic institutions to record and view searchable video presentations in minutes from any device. Businesses can use Panopto to record and live stream:

Employee training and onboarding video

Review, recap, and summary communications

Product demonstrations All-hands meetings Sales and marketing

presentations Web conferences Executive communications Events for customers, press,

and investors

Panopto also enables individual employees to record and share videos in a secure, centralized video library. This facilitates:

Social and informal learning Capturing the knowledge of retiring employees Sharing knowledge across a global workforce

Panoptos video library includes unique search functionality that enables employees to search inside videos for any word mentioned or shown onscreen during a video.

Panopto is currently in use at Fortune 500 companies around the world and is the fastest-growing lecture capture solution at leading universities. Privately-held, Panopto was founded in 2007 by technology entrepreneurs and software design veterans at Carnegie Mellon Universitys School of Computer Science.

Panopto was recently recognized by Gartner as a Leader in its 2014 Enterprise Video Content Management Magic Quadrant. Learn more at http://panop.to/gartner-leader.

Want to try Panopto for yourself? Visit www.panopto.com today for a free 30-day trial or to schedule a demonstration of our software.

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Technology is at the center of almost everything banks do .............................. 4

Using Video To Deliver Bottom-Line Results in the Financial Services Industry ..... 5

Maintaining a central, secure library of video assets ...................................... 5

Onboarding new employees and developing future business leaders ......... 6

Preserving employee expertise and transferring knowledge .......................... 7

Driving innovation through social learning ...................................................... 8

Efficiently scaling firm communications and events ........................................ 9

Enhancing the customer experience to enrich client relationships .............. 10

Coordinating operations at branch and regional locations ......................... 11

Facilitating client audits and risk assessments ............................................... 12

Managing the cost of compliance & regulatory continuing education ...... 12

What To Look For In A Video Platform For A Finance Organization ...................... 13

In 140 Words: Panopto Helps Enhance Efficiency With Video .............................. 17

Get Started With Video In Less Than One Day ...................................................... 18

OVERVIEW

How Video deliVers roiFor Todays Financial serVices indusTry


TECHnOLOGy IS AT THE CEnTER OF ALMOST EVERyTHInG BAnkS DO in the areas of growth, InnovatIon, CoMplIanCe, and operatIonal effICIenCIesIn the time it takes you to read this sentence, someone will have made another million in the market. And that holds whether youre reading right now early in the morning on Wall Street in new york, at noon in Londons Paternoster Square, or late in the day along the yangtze in Shanghai. Between the new realities of an expanding global market and continued advancements in automatic trading, not only does the market never sleep, it never even slows.

But the speed at which business is done isnt the only challenge facing businesses in the financial industry today.

A series of broad and sweeping new legislation has brought forth a wave of rules covering capital, liquidity, consumer protection, anti-money laundering (AML), and risk management, making the regulatory environment perhaps more uncertain than ever. In the US, just over half of the mandates passed in the Dodd-Frank Act have actually been implemented, and many of those that have are already finding themselves revised again by the legal system. Uk and other European institutions face similar challenges, as the Basel III rules roll out across the continent.

new regulation has also capped the industrys ability to drive revenue with services costs and fees, forcing many institutions to implement firm-wide cost cutting measures and prioritize operational efficiencies. Its a discipline thats not without some danger, however, as todays customers product and service performance expectations are higher than ever.

technology is changing the face of the modern financial services industry enhancing products,

scaling operations, and improving results.


And on top of it all, the industry faces one of the highest employee turnover rates. A 2013 Hay Group survey found that 22% of employees in the financial services sector plan to change employers in the next two yearsalmost double the rate (12%) of anticipated employee turnover in high-performing companies across other industries.

So how are todays best-performing financial institutions continuing to drive return on equity? As Deloitte has observed, Technology is at the center of almost everything banks do in the areas of growth, innovation, compliance, and operational efficiencies.

While many of the technologies now driving returns in financial organizations are proprietary specialized tools designed to address niche opportunities, there is one particular ROI-builder that stands apart video.

how TODAyS FInAnCIAL SERVICES InSTITUTIOnS Use Video to deliVer bottom-line resultsVideo is helping financial institutions become more agile helping to scale activities while cutting costs, capture expertise and better identify business opportunities, and even enhance transparency with customers. Heres how:

MAInTAInInG A secure, centralized library OF VIDEO ASSETSWhen it comes to sharing ideas and information whatever the format in financial services organizations, data security is critical. A misstep here could inadvertently expose customers nonpublic personal information, reveal a trade secret, or create any number of other PR and legal headaches. For many firms, the public nature of some video hosting options like youTube has simply made using video as a business tool a non-starter.

Click for a Ceos take on how video drives returns in financial services organizations


Modern enterprise video platforms, however, recognize that data security is table stakes. A video platform like Panopto can provide a private, centralized video content management system (VCMS) for storing and sharing all of an organizations videos. With a platform like Panopto, firms can control who accesses their video libraries, playlists, and individual recordings. Panoptos management tools give administrators visibility into server status and fine-grained control over permissions, user administration, and integration with identity providers and learning management systems (LMS).

Modern video platforms also offer hosting options to meet the needs of your data security policies and firewall standards. Today, an enterprise video library can be either cloud-hosted or deployed on-premises, giving organizations the option to store and distribute their recordings however they prefer.

And as the video library grows, Panopto provides a unique video search engine that makes finding information inside your videos as easy as searching for content within email and documents. Simply enter a word or phrase like financial services into Panoptos video search engine youll find every relevant recording in your collection and be able to fast-forward to each point in your videos where the term is mentioned.

OnBOARDInG nEW EMPLOyEES AnD deVeloping future business leadersCentral to the task of any organizational leader is ensuring the company has the right team members with the right skills to be competitive, and that the next generation of leaders is being developed for the future.

The task starts with onboarding, where financial institutions are using video to extend the ordinary one-day welcome into an organized series of video-based lessons that cover

everything from company culture to product details. Video makes it possible to curate and organize onboarding activities over an employees first 30, 60, or 90 days and makes those activities consistent and accessible even for remote employees around the world. Best of all, according to research by Aberdeen Group, companies that offer an onboarding program

Click to learn more about how a vCMs works


have an average employee retention rate of 86 percent, while companies without one have a 56 percent retention rate meaning video onboarding can be an efficient way to combat the financial industrys high turnover rates.

Video-based learning and development can also enhance agility for staff and management. Because modern video platforms like Panopto offer the ability to index and search the actual content spoken or shown in a video, team members can use a central video training library more as a reference resource than as a memorization requirement searching for the training information they need right when and where they need it.

And as employees are prepared to take on leadership roles, video-based training again can play an essential part by offering a means to provide consistent, organized lessons to the institutions newest managers, providing them with a digital coach for how to communicate company values, how to conduct performance reviews, how to use the companys employee management technology, and more. Developing this leadership expertise especially in operations, technology, finance, and compliance is essential to ensuring the future viability of the organization.

preserVing employee expertise AnD TRAnSFERRInG knOWLEDGE BEFORE TURnOVERMore so than perhaps for any other industry, brain drain is a burden for financial services organizations. According to the latest research by the Hay Group, businesses in finance fields can expect to lose 1 in 5 employees every year to turnover.


Managing 20 percent annual turnover would be a headache for any industry, but its an especially critical issue in finance. There, staying in the black requires investment managers with near-encyclopedic understanding of market forces and competitive issues. It requires technology specialists with developer-level insights on process management and network risk. It requires every member of the front office to be able to serve as established experts on most any aspect of investments, acquisitions, mergers, and a vast array of fundraising strategies.

In short, success in the financial services industry requires a firms employees to have an enormous wealth of knowledge all of which walks out the door each night with those individual experts. And when that team member leaves the firm, so too does the insight that the company had come to rely on in building their strategies, resources, and portfolios.

Unless, that is, the firm takes steps to preserve that knowledge. As the new york Times has noted, many organizations are turning to video to help ensure that critical knowledge is always available inside the organization even if the expert isnt. Video makes it easy for financial firms to ask internal experts to document their knowledge showing how a specific derivative works, what factors are included in a quantitative framework, the standard workflow for new operational risk controls, the user interface design for an investor portfolio management tool, or virtually any other subject. Capturing these explanations with video and sharing them on a central internal video library allows anyone else in the organization to instantly find and reference them so your expertise doesnt leave with your experts.

driVing innoVation THROUGH SOCIAL LEARnInGIts time to stop waiting for that next big eureka innovation that changes everything. Studies have shown that greater success is achieved more rapidly through steady incremental improvements derived from social learning. This should come as no surprise even before the days of the Industrial Revolution, businesses have relied on employees institutional knowledge and subject matter expertise to find new ways to amplify productivity or create improvements to products and processes.

Click for a sample exiting employee knowledge preservation video


For organizations like financial institutions that make their trade in simplifying the incredibly complex, the act of sharing expertise or experience among employees can help demystify complicated regulations, allowing more employees to act quickly and with confidence that they are doing things properly. Likewise, social learning can teach more employees how incredibly sophisticated analysis tools or market technologies actually work, and in turn make it possible for people to suggest new ways to further tune, optimize, or improve the process for even better results.

So where does video come in? As noted by the New York Times, video makes social learning accessible. Instead of sharing knowledge one-to-one, recording a subject matter experts insights on a regulation, product, service, or industry makes it possible for everyone else in the organization to find and benefit from those insights even if the subject matter expert isnt available or even with the organization any longer. The new york Stock Exchange has used video to scale the knowledge of their experts allowing product managers previously overwhelmed by customer and internal requests for demonstrations to simply record it once and share the video.

efficiently scaling FIRM COMMUnICATIOnS AnD EVEnTS Video offers financial companies a convenient tool to ensure their messages stand apart. Video can be a transformative sales tool putting a face with a message for prospecting, and bringing life to the static text of old brochures or reports. The numbers bear it out up to 85% of buyers are more likely to make a purchase if they saw an explainer video first.

Likewise, video also enables financial organizations to bolster internal communications, delivering messages that are more engaging and more memorable helping companies deliver the mission and value statements they share, as well as help individual offices around the world connect with their colleagues and share how they work. The effect is noticeable according to Forrester Research, employees are 75 percent more likely to watch a video than to read documents, emails or web articles.

Click for a sample social learning video teaching budgeting best practices


Events too can be targeted for efficient scaling with video. Especially among larger institutions, live events have become essential tools with external conferences, seminars, and tradeshows hosted in order to reach customers, drive media awareness, and extend brands, while internal events help to build networks, identify strategic priorities, and showcase new product and service developments. yet there is a key challenge to the ROI of any event only those in attendance can benefit from them, meaning organizers must spend heavily to ensure their audience is large enough to generate value.

Here, video changes that break-even point by serving both as broadcast tool and as an on-demand library. Rather than relying on in-person attendance, financial institutions can use a video platform like Panopto to live stream a webcast of an event to an audience of tens of thousands well beyond what traditional video conferencing tools can offer. And for the 55% of people who prefer to watch a video presentation after the fact, that same webcast video can be instantly stored and shared in a central video library where it can be easily accessed anytime. Event video doesnt need to be expensive either Siemens now records entire events with just laptops and webcams, at a significant savings over the old method of relying on a team of AV specialists.

EnHAnCInG THE CUSTOMER SERVICE ExPERIEnCE TO enricH client relationsHipsTodays financial services industry is awash with forms, reports, dashboards, and prospectuses. So much documentation can be a healthy means to offer transparency but seldom helps a business stand out from the competition or engage customers in a meaningful way.

Video creates communication opportunities for connecting directly with customers. Many businesses have found that offering a series of product explainer

Click for a sample conference event video

Video enables your customer service organization to personalize communications


videos or recorded responses to FAQs engage new leads and existing customers in a way that 20-page brochures simply dont. Likewise, using video to create generic welcome and onboarding messages for new customers walking through whats in an investment portfolio, how to sign up for service online, which phone numbers to call for deposit confirmations, and other practical essentials helps ensure customers feel taken care of as part of the buying process, and can help boost retention and referral rates for many client services.

coordinating operations AT BRAnCH AnD REGIOnAL LOCATIOnSThe currencies in question may change, but the core services of todays financial industry never sleep. As firms approach expansion as a means to diversify revenues and leverage additional markets around the world to expand market caps and stabilize incomes, a new challenge has arisen. Increasingly global operations mean firms must now work to ensure operations in any given location are working in accordance with the policies and procedures set by home office. And that challenge rises even further at times of significant change during an acquisition or merger, or in the early days of a retail expansion into a new community, country, or continent.

Corporate and personal financial services customers expect your every location to be an extension of your firms headquarters predictable, professional, and all equally capable of meeting their needs. Coordinating front line operations and ensuring that every office follows the same, correct procedures for customer service, revenue generation, and staff training is essential to supporting the customer experience and maintaining a brand.

Often, firms seek to unite disparate offices and operations through communications. yet text-heavy manuals and guidebooks are all too often quickly filed and forgotten. In-person training and events like on-location town halls, however, are often cost-prohibitive sending even a small team to check in on branch locations would add a significant line item to your training or communications budgets overnight. Larger firms will likely find such a plan is logistically impossible at any cost.

Video, however, offers an affordable way to share messages, information, and virtually anything anytime, anywhere, on-demand. With video, corporate training teams can develop comprehensive

Click for a sample employee training video


onboarding, skills enhancement, and compliance training courses that can be viewed instantly whenever theyre needed. Communications teams can broadcast town halls and fireside chats for the benefit of every employee. And executives can provide quarterly updates and strategy reviews for everyone to review all at once.

facilitating audits AnD RISk ASSESSMEnTSThe systematic nature of conducting an audit is, by design, exhausting. And as more and more clients rely on proprietary technologies and complex applications at the core of their business and revenue-generation operations, understanding what (and how) to examine as part of a formal audit cycle has never been more challenging.

Here, modern video platforms can serve auditors in a variety of ways. As auditors conduct their reviews, video-based communications and presentations may serve as an alternative to on-site activities and help the auditor work more efficiently without need for travel.

Video can also be used as an improved medium for client/auditor communications. Where a clients documentation is overly complex or leaves an auditor with questions as to specific details, a video platform can be a secure way for clients to share confidential details in a format thats easier to see and understand than text alone.

And as video increasingly becomes a standard business tool for sharing specifics and imparting information, many auditors may find that a modern video platform can serve as an essential repository for managing and examining a clients video files. A video platform can enable auditors to aggregate and review a clients complete video library from a single location, and even keyword search for specific terms that may be spoken or shown on screen, then instantly fast forward right to the relevant moments.

managing tHe cost OF COMPLIAnCE AnD REGULATORy COnTInUInG EDUCATIOnAs an unclear regulatory environment and a still-recovering worldwide economy combine to dampen the potential for top-line revenue growth, many financial institutions are turning to cost management and operating efficiency to maintain profitability. One practice in particular where this trend has found rapid adoption is in facilitating employee training and continuing education, especially as a new wave of regulation expands both the subject matter and the sheer number of courses firms must ensure their staff attends.

Video is a proven tool for scaling operational activities while driving down costs. Introducing or expanding the use of video as part of organizational learning and development, for example, enables companies to deliver essential training information once and make it


available anytime, anywhere, for employees all around the world. This can offer significant savings over the traditional classroom model after finding that up to 40% of its classroom training costs were spent on travel and lodging, IBM moved half of its training programs to an eLearning format. In just 2 years, the company saved $579 million. Recording and sharing training events also frees corporate trainers from the burden of delivering the same session repeatedly to new audiences, enabling them to focus on new or more strategic deliverables.

wHat to look for in a Video platform for a fInanCIal servICes CoMpanyAs video becomes ever more integral to how financial services organizations communicate, teach, and share ideas and information, many are finding that now is the right time to review how theyve managed video content in the past and how they plan to manage it in the future. Thats because video is unlike any other content:

Different video recorders often produce different types of video files many of which cannot be played back on other devices

Video files are significantly larger than text documents and can quickly exceed maximum file size restrictions on common content management systems

And video files are traditionally impossible to search, limiting the value of any recording to only those who already know what topic the video covers

The growing prevalence of video has prompted Forrester Research to recommend organizations Plan for video content, not just videoconferencing. Doing so, contends Forrester, offers the promise of a variety of rewards, including reducing the cost of meetings and events, improving training and executive communications effectiveness, driving remote employee engagement, and encouraging social learning and sharing best practices.

Click for a sample compliance training video


Delivering those returns starts with finding the right video platform and that, in turn, starts with asking the right questions. Every organization will have its own list of video must-haves; here are 10 items to consider when your organization drafts yours.

are all spoken and wriTTen words auTomaTically indexed For searcH?In the finance industry, its not uncommon for compliance training, process demonstrations, or conference videos to run 30-60 minutes or longer. That means being able to find and fast-forward to specific moments is essential. youll want a video platform that searches not only by title and description, but that can actually index any word spoken or shown on-screen in the video, and allow viewers to instantly fast-forward right to the exact relevant moment.

wHaT sTeps musT a user Take To record a Video,THen sHare iT wiTH THe inTended audience?There are two simple requirements for virtually every organizational video. First, it must be recorded. Second, it must be shared. And while that may sound straightforward, many video platforms simply dont fully support video workflow meaning what should be an easy, seamless process may end up requiring additional software, added support, and a steep learning curve for new users.

Ideally, you want an end-to-end solution that runs on any computer, recognizes any and all recording equipment, and automatically takes care of the technical video management steps meaning your employees will be able to simply click record, capture their video, and click stop, while the video platform takes care of the rest.

wHaT Hardware is required To record, liVe sTream, upload, manage, and View Videos?A constant issue in producing video is the ever-growing number of devices for video recording and video viewing, and the wide variety of file types those devices may produce or play. Some video platforms have sought to manage that complexity by requiring specific hardware and limiting the types of devices their systems can work with. In the finance industry, however, this can create hurdles to organizational video adoption, as this means firms are forced to either purchase compatible recorders for every employee, or manage a limited library of recorders that employees must plan ahead to check out before using. For better results, you want a video platform that can support virtually any video or audio recording device from HD camcorders to inexpensive webcams and even specialty recorders.

For video management, editing, and playback, meanwhile, availability is the key feature.

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Web-based tools that run in any web browser tend to be easier, more flexible options. And as mobile recording and viewing become more commonplace, youll also want to consider the availability and functionality of the video platforms native mobile apps.

wHaT sTeps musT a user Take To liVe sTream a presenTaTion?Live streaming video of a conference, simulation, or presentation is quickly becoming essential for training and communications. But as organizations seek to broadcast events, announcements, and even internal meetings in large organizations, many have found themselves exceeding the maximum audience capacity for traditional video conferencing solutions.

Webcasting offers a solution the ability to live stream a presentation over the web to an external or internal audience of thousands or even tens of thousands. But not every video platform offers webcasting as a standard feature, and even fewer include it as an option in the normal video workflow meaning it can be hard for first-time users to find and take advantage of. Be sure to check with your video platform options to see exactly how each enables webcasting, and how much work is required to set up each live broadcast.

How many Video inpuTs can be simulTaneously recorded?When it comes to investment products and money management services, many concepts essential to financial services firms simply cant be captured with a single viewpoint. Whether its an investment rating system demonstration, a customer service or support training video, a multi-person industry conference panel, or a number of other potential uses, its helpful to have a video platform that can record more than one stream of video. not all platforms, however, can meet this need.

you want a platform that makes it easy to record video from virtually unlimited sources recorders plugged into a laptop, mobile devices recording independently, one or multiple computer monitors the more flexible your solution, the better.

can THe Video plaTForm be exTended or cusTomized To FiT in your organizaTions inFrasTrucTure?Today most financial organizations have developed their own formal or informal workflows for managing video. Without the ability to integrate into existing workflows, any new video platform risks becoming more work for your team and less likely to be used to its full potential.

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What you want is a video platform built to integrate with your organizations learning management systems (LMS) and identity providers, and one that includes admin tools and developer APIs for extending and customizing the video platform further.

wHaT elemenTs are included in THe Video plaTForm, and wHicH musT be purcHased as add-ons?Total Cost of Ownership is a concern for virtually any technology youll purchase, and video platforms are no exception. Some platform solutions offer an impressive feature list, but force customers to purchase each as add-ons to a much more basic set of core capabilities.

Every organization has different priorities in managing total cost of ownership. For most, a single comprehensive solution for capturing any kind of video, streaming live events, and managing videos in a secure, searchable library will offer the greatest ROI.

How does THe plaTForm proTecT againsT ouTages and sysTem Failures during recordings & eVenTs?no provider, no server, and no data center is immune to outage in some form. When bad things happen, whether its a power failure, a network outage, hardware crash, a blue screen, or a misbehaving driver, you should expect your video platform to have a plan in place to prevent data loss.

Ideally, you want a platform that relies on multiple geographically dispersed redundant servers to protect against server issues, and failsafe recording features to protect against problems on local machines and ensure interrupted recordings are repaired and restored quickly.

can THe plaTForm scale wiTH ongoing growTH and spikes in user demand?Video is only just reaching the tipping point in most financial services organizations. Virtually every technology analyst expects that the total amount of video organizations produce and consume will increase exponentially in the coming few years which means any video solution you buy today will need to scale to meet your needs tomorrow.

With a video platform, scalability applies to a number of elements in the system, including: web servers which require scalability to accommodate increasing HTTP requests, encoding servers which need to scale as more and more encoding jobs are submitted, and data scalability to accommodate a rapidly increasing amount of video storage. youll want to be sure your platform options can account for each of these factors.


.10are THere naTiVe mobile apps THaT proVide supporT For Video searcH and Viewing?More and more finance professionals are using tablets and smartphones to view video. With trends like Bring your Own Device, flex time, and a host of other modern working arrangements, enabling mobile access to video viewing, sharing, recording, and managing is absolutely essential.

your video platform needs to make sure youre covered. At a minimum, every video uploaded into your video content management system should be encoded for playback on mobile devices. Ideally, your platform should include native mobile apps for both iOS and Android, providing support for your team to view and search your videos from anywhere.

in 140 words: panopto helps YoU enhanCe effICIenCy wIth vIdeoEfficiency is the key competitive advantage in todays financial services industry. More scalable training can drive down expenses. More engaging communications can help boost services revenues. More available and effective knowledge sharing can preserve employee expertise, provide a repeatable alternative to in-person consultation, and enable product and market experts to more profitably optimize their time.

Panopto is a video platform that enables organizations to establish social learning and knowledge management solutions, scale training, services, and communications, and optimize operations while managing costs helping financial institutions develop new efficiencies and find better ways to capitalize on growth opportunities.

named a Leader in Gartners Magic Quadrant for Enterprise Video Content Management and commended by Forrester for the best support for video search, Panopto makes it easy for your organization to record anything and find everything.

For more, visit www.panopto.com.


Fill out a free trial form at panopto.com/free-trial/ or give us a call at 855.PANOPTO

Our team will contact you to discuss how youd like to put video to work in your organization, and help you determine if Panopto would be a good fit

Well set up your video platform site with you that same day, help you brand it for your organization, and include a set of welcome and how-to videos for first-time users

From there, youll be ready to go! youll have complete access to upload existing videos, record new videos, share and view recordings, and search your videos for specific details

get started in less tHan 1 day