Business Insights: Telehealth Strategies for Banks

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Hear from Wade Barnes, Financial Services Practice Lead on how telehealth strategies can be applied to the banking industry in order to handle complex financial transactions and services.

Video Transcribed

Hi, I’m Wade Barnes, Financial Services Practice Lead at Hartman Advisors.

Since Covid-19, our lives have moved more and more online. Our children are finishing school using online learning. Work meetings have become virtual using Teams and Zoom and even happy hours and social gatherings have resorted to digital channels.

Perhaps the most interesting parallel for banking is the evolution of Telehealth. While not a new concept, Telehealth has rapidly gained adoption in a time when medical facilities are being reserved for those in most need.

Medical treatment requires a level of privacy and complex diagnostics, much like understanding and providing banking solutions. Additionally, HIPAA and other healthcare regulations require similar attention to security and privacy as it applies in the financial services space as well.

I’ve learned a lot from my colleagues at Hartman who have been focused on Telehealth for years. Either for social distancing or to serve a new preference of consumers, bankers should be actively thinking through how we can create virtual environments to handle complex financial conversations.

There are many simple tools to consider, some of which you may already licenses to. Our team is working with many clients to find innovative solutions and we welcome the opportunity to help you as well. Take advantage of this time to transform and remain competitive.

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