VideoCX.io Improves Video Banking Platform Performance by 30% Using Amazon Chime SDK

VideoCX.io provides an extensive video banking and video know-your-customer (KYC) platform to financial services customers. More than 50 major banks, insurers, and lending companies use VideoCX.io to verify loan applicants, assess motor insurance claims, and service customers.

In response to global shifts in work and workplace arrangements, financial services providers worldwide accelerated the adoption of video banking and KYC platforms. With many workers working from home and countless branches and offices closed, VideoCX.io and other video solutions helped these companies maintain operations. Staff adopted the technology for tasks such as checking customer identities and discussing financial products online. Even as branches and offices began to reopen, banks retained the technology, because both employees and customers appreciated its convenience.

The widespread acceptance of video was a huge opportunity for VideoCX.io; however, the company saw increasing competition from other providers. Says Rudrajeet Desai, founder and chief executive officer at VideoCX.io, “To gain an edge, we wanted to make sure our product delivered great performance and the latest capabilities. Our problem was the open-source technology underpinning our video platform, which was time and resource intensive to develop.”

As VideoCX.io began searching for an alternative, the company soon found its attention focused on Amazon Web Services (AWS). It selected Amazon Chime SDK from AWS Communication Developer Services, which helps engineers add near real-time voice, video, and messaging capabilities to applications. “VideoCX.io was born on AWS, and we saw Amazon Chime SDK as the building block for class-leading video banking services,” says Desai.

Throughout the migration to Amazon Chime SDK, VideoCX.io received close support from AWS. “We had absolutely everything we needed to complete the work,” remembers Desai. “At different times, we spoke to AWS technical experts from across the world, who shared their insights, so we knew how the service worked on the ground.” With these insights, the company completed the migration in less than eight weeks, making it one of the company's quickest developments of a business-critical system to date.

By switching to Amazon Chime SDK, VideoCX.io also eliminated a major expense: contracting dozens of extra developers to write software for the legacy platform to work across multiple browsers and devices. “AWS does all that heavy lifting for us, and we can focus on adding services to the Amazon Chime SDK building block using a simple API,” says Desai.

When VideoCX.io added speech-to-text and computer vision functionality, the company didn’t have to build the software from scratch. Instead, it used Amazon Transcribe, an automatic speech recognition service, and Amazon Rekognition, an image recognition and video analysis service, straight out of the box. “We would have needed six months for just one of these services to be ready with our legacy video platform, but we had the service in place in less than two weeks with Amazon Transcribe,” adds Desai.

He estimates the company made similar time savings when it added translation functionality to the platform via Amazon Translate, a fast, high-quality, and customizable language translation service. He adds, “We spend about 20 percent less on software engineering nowadays, which frees up more developer time for creating new capabilities with AWS.”

VideoCX.io has used this extra time to deploy Amazon Chime SDK call analytics to its platform. This will provide banks and other customers with insights from voice conversations through Amazon machine learning integrations and services such as Amazon Transcribe. One use case for the analytics service is voice tone analysis. When the system identifies that a speaker’s sentiment is turning negative, it will alert a supervisor to take appropriate action.