How a Financial Services Firm Transformed Their Business with One Simple Change

by in CustomerCase Study, Features, Lifesize, Miscellaneous, People, Products, Technology

Trust Company of Vermont (TCV) is a highly regarded trust and investment firm based, as the name suggests, in the Green Mountain State. Although the company is headquartered in Burlington, they operate an additional four branches spread across the rural Vermont area, providing individual investors, companies, and non-profits with a wide range of financial services. As an employee-owned and -managed firm, TCV puts an emphasis on maintaining face-to-face relationships between investment managers and their clients, something that can be difficult given the rugged, mountainous terrain of rural Vermont – to say nothing of the region’s famously unpredictable winters. The company needed a better way not just to connect with geographically disparate clients, but between their own branches as well. Simply put, they needed a video conferencing system.

The firm knew that they wanted a high-definition video conferencing system, but were disappointed by all the low-fi options that came across their desks, many of which lacked even basic lip-synchronization and security features.  Some were so bad that investment managers found themselves resorting to making telephone calls to avoid wonky sound glitches. The situation was untenable – but a solution was closer to home than they initially realized.

A local law firm was seeing great success with their Lifesize video conferencing package, and passed the information along to TCV. A Lifesize Icon system demo through Corporate Data & Voice Solutions convinced the company to invest in a system of their own, which they coupled with touchscreen endpoints in every branch – and they haven’t looked back since.


Surprising Benefits of Video Conferencing

“Video conferencing has made a positive impact on the company, both internally and externally,” writes TCV principal and portfolio manager David DeBellis in a recent Wall Street and Technology byline. “With video conferencing, our clients can connect with their preferred investment manager no matter where they may be, for a level of convenience and flexibility that we never had before.” The intimacy video conferencing fosters regardless of geographic proximity is absolutely vital in a field in which trust is everything, and Lifesize’s robust security features ensure that this understanding doesn’t come at the cost of confidentiality.

The employees and managers of TCV are constantly finding new ways to use their Icon systems. Now, in addition to using the solution to discuss financial matters with clients, the company has used it to schedule weekly training and strategy meetings. Employees are able to work from home more, minimizing burnout; they’re even able to check in with the office while on vacation.

“It’s been a great way to develop tighter bonds not only with our clients but internally as well,” DeBellis summed up. “We feel more connected than ever before, which has led to a tighter, more cohesive business overall.”

[Download the entire case study here]