Video has emerged as an increasingly popular tool for delivering enhanced customer experiences. As a communication channel, video provides pension schemes with an exciting opportunity to nurture great storytelling, helping visually engage members in a way traditional text-based communications cannot.
That’s why we’ve recently partnered with Money Alive to deliver personalised video annual benefit statements (ABS). Through real-time, personalised video, members gain a better understanding of their pension benefits, reducing the need for inbound queries to already stretched in-house teams.
One of the common pitfalls of traditional video personalisation solutions is that the market is flooded with platforms whose primary focus is on marketing campaigns, creating a one-size-fits-all video with only minor personalisation tweaks. They fall short when it comes to more complex video storytelling that requires a deeper layer of personalisation and real-time responsiveness. Money Alive’s advanced solution has been built to overcome these limitations and is delivering personalised video content, which several of our customers and their members are currently enjoying the benefits of through Heywood Video ABS.
Beyond delivering a personal experience, there’s an even more important issue at stake.
In a landscape where data breaches and cyber-attacks are unfortunately all too common, with several high-profile cases in the past few months alone, any scenario where viewer data is sent to a cloud-based processor increases the risks of data breaches significantly.
Typically, video platforms rely on cloud-based rendering. They receive viewer data, process it in the cloud, which generates a personalised video file by incorporating minor customisations such as the viewer's name, preferred products, or previous interactions.
Effective as this may seem, it’s this reliance on cloud-based rendering that poses concerns with data security and compliance. When viewer data is sent to a cloud-based processor, the risks of data breaches heighten and one single lapse in security defences could lead to a host of issues.
As well as delivering a new way for members to understand their pension benefits by providing easy-to-digest information and empowering them to make informed decisions about their retirement plans, we’ve taken measures to ensure that our video ABS platform ensures all data is secure.
Attempted security breaches can happen at any time, which is why it’s vital to ensure you're taking all appropriate security measures within your processes. Unlike with other vendors, Money Alive’s video canvas and all associated content can be hosted entirely on our own infrastructure, eliminating any reliance on third-party servers. By removing the need to send data, we’ve created an additional layer of security, ensuring sensitive data remains within the Heywood environment.
The integration of the Video ABS into our Heywood member engagement solutions is seamless, requiring zero effort from Heywood's customers. Leveraging the power of Altair, the Video ABS automatically extracts relevant information from pension statements, eliminating any additional effort for customers.
Aaron Coates, Money Alive's Chief Product Officer, comments, "We've worked with the Heywood Product and Technology teams from day one of this project to ensure that data security is at the core of this solution. Our Video Canvas player technology, by design, is already a class-leading solution for secure video communications, but on this project, we were challenged to go one step further with a full deployment of our player technology into the Heywood ecosystem. Our hats off to the Heywood team for not settling for anything other than perfect!".
The use of video to provide members with their annual benefit statement is redefining the standards for personalised video content within our sector. By marrying in-browser rendering with deep personalisation capabilities, self-hosting options, and a robust commitment to data security, we're ushering in the future of personalised video content.
Read more: How Money Alive developed its video capabilities