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The Importance of Videos in an Open Banking Strategy


 The use of videos in open banking strategies is essential for clear communication and customer engagement.


Camera pointed at people who are out of focus.

Open banking is revolutionizing the financial sector, presenting both new opportunities and challenges for banks and financial institutions. In this context, videos have emerged as a crucial tool for communicating and educating clients about the innovations and benefits of this new approach. Let's explore why videos are essential for an open banking strategy and how you can leverage them to maximize the impact of your communication.


The Role of Videos in Open Banking Communication

Videos have the power to simplify complex concepts and effectively engage audiences. In the context of open banking, where transparency and understanding are fundamental, videos can play a critical role in several areas:


Education and Information

Open banking involves opening banking platforms to allow third parties to access financial data with the customer's authorization. This can be a challenging concept for many clients. Educational videos can clearly and accessibly explain open banking, addressing issues like security, benefits, and how customers can take advantage of these new opportunities.


Product and Service Demonstrations

With open banking, banks and financial institutions often launch new products and services. Demonstration videos are ideal for showing how these solutions work in practice. For instance, a video can guide clients through the integration process with a new financial app, highlighting the benefits and ease of use.


Client Testimonials

Client testimonials are a powerful way to build trust and credibility. Videos featuring satisfied clients sharing their experiences with open banking can help persuade other customers to adopt these solutions. Showing how products or services have helped solve problems or improve the financial experience can be extremely persuasive.


How to Create Effective Videos for Open Banking

To ensure your videos are truly effective in an open banking strategy, consider the following best practices:


Keep the Message Clear and Direct

The complexity of open banking can be intimidating. Ensure that the video's message is clear and direct. Avoid technical jargon and focus on conveying essential information in an understandable way.


Use Calls to Action (CTAs)

Include calls to action in your videos to encourage viewers to take the next step. If you are promoting a new service or product, ask viewers to sign up, download an app, or contact you for more information.


Tailor the Content to Your Target Audience

Know your audience and create content that resonates with their needs and interests. For example, if you are targeting younger customers, adopt a more modern and dynamic style. For a more conservative audience, keep the tone more formal and informative.


Invest in Production Quality

The quality of the video reflects the quality of your brand. Ensure that your videos have good image and sound quality. Investing in professional production can make a difference in how your audience perceives your institution.


Ideal Platforms for Video Distribution

The choice of platform to distribute your videos is also crucial. Here are some of the main platforms that can be effective for open banking:


YouTube

YouTube is a powerful platform for sharing long and detailed videos. Use it to publish educational videos and tutorials about open banking. Additionally, YouTube offers analytical tools to measure your videos' performance and better understand audience behavior.


Instagram

On Instagram, short videos can be used to create Stories and Reels that quickly grab viewers' attention. Use this platform to share quick updates and tips about open banking, as well as to promote interactions with followers.


LinkedIn

For a more corporate audience, LinkedIn is ideal for sharing informative videos and detailed analyses on the impact of open banking. It’s an excellent platform to establish your institution as an authority in the financial sector.


Measuring the Success of Your Videos

After publishing your videos, it’s essential to monitor their performance. Use analytics tools to track metrics such as views, engagement, and conversions. This data will help you refine your strategy and improve future results.


Conclusion

Videos play a crucial role in an open banking strategy. They help educate, engage, and build trust with customers, promoting the adoption and understanding of new financial solutions. By investing in high-quality videos and distributing them on the right platforms, your institution can maximize the impact of communication and stand out in the competitive financial sector.


If you need help from audiovisual and marketing experts, contact Bendita Filmes.

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