Video Conferencing Solutions for Finance and Banking

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photo by People Creations

The financial industry is a tricky one. First, there are the constant changes in regulations that must be met along with constant fluctuations that must be addressed straightaway. Then, there is the need to meet customer demands while keeping costs to a minimum. All the while, a great focus on security must be maintained.

Video conferencing is an ideal solution for many industries but more so the financial sector. As solutions have advanced, companies are able to hold secure, quality video calls as well as share and collaborate on documents. Travel is significantly reduced, and the planning and communication are enhanced, allowing companies to be more productive.

We are going to look at 6 video conferencing tools that can drive finance and banking companies forward.

  1. Zoom

Zoom has shot to the top of many video conferencing lists, more so since the recent global health crisis. Zoom has done so well because every meeting participant can have their HD webcam on, greatly improving communication. Other features include screen sharing, active speaker views, group messaging, and video recording. We liked to raise a hand feature that prevents people from having to interrupt. Meetings can be immediate or set up in advance from the Zoom app and from Chrome or Outlook thanks to the simple integration.

Prices range from $14.99 to $19.99 per host per month.

  1. GoToMeeting

This solution is better suited to small-medium sized businesses. You can have up to 3,000 people on one call but only 25 will be able to use their webcam. GoToMeeting is easy to use and can also be integrated with Outlook and Chrome. It comes with screen sharing, recording, and drawing tools. We liked the transcriptions feature too. It is the host who has control of the video conference. They are able to mute attendees when necessary and decide whose camera is switched on or even switch one camera off to turn someone else’s on.

There are various price plans, all with a 14-day trial. The plans start at $14 and go up to $47 per host per month.

  1. Microsoft Teams

This is the logical choice if you are used to working with Microsoft programs and Office 365. In fact, if you have Office 365, you will already have Microsoft Teams included in your subscription. You will also be able to use a digital whiteboard during your video conferences, share files and screens. Up to 250 attendees can join a Microsoft Teams, 9 of which can be seen on a video.

If you don’t have Office 365, prices range from $5 to $20 per month per user and you will have to sign up for one year.

  1. Webex Meetings

Webex, from Cisco, has two different platforms, Webex Meetings, and Webex Teams. Which to choose depends on the number of people you need to host video calls for rather than the features that are available. Video calls are high definition, with screen/file-sharing options, whiteboarding, recordings, and integration with productivity tools like Microsoft Office, Office 365, Google Calendar, and more. Webex Meetings allows for 200 attendees and Webex Teams for 25.

Prices start at $14.95 per person per month and go up to $29.95.

  1. GoRemote

A Switzerland based company, GoRemote ensure all of the conversations and meeting are completely secure. As it’s hosted in Europe, you have the advantage of being GDPR compliant. Your unlimited video calls are encrypted, and you can set up password-protected meetings. You can enjoy screen sharing and edit documents as you work together. A unique feature we hadn’t seen before was the custom meeting URLs.

GoRemote sets its prices after an initial assessment and based on company needs.

  1. Lifesize

Lifesize has a global network of data centers and they have the right to be proud of their clients benefitting from 99.9% uptime. The cloud conferencing solution has end-to-end encryption, ensuring that all conversations are kept private. Attendees can use the digital whiteboard and even wireless screen sharing. You can integrate Lifesize with Microsoft Teams, Slack, and more.

For individuals, Lifesize is free. Other price plans start at $12.50 per month per host.