UC: the foundation of a successful Financial Services operation

23 May 2019

By Richard Chandler, Design Authority, G3 Comms

Digital technologies are changing the face of financial services. Artificial Intelligence and Automation are enabling groundbreaking new possibilities for institutions across the sector, as they connect with customers more closely than ever before.

However, as interactions become more personalised and convenient, these customers are in turn expecting more from their service experiences. To stay competitive, financial services institutions must consider every technology available to them, and deploy effective operations.

Unified Communications (UC) is one such technology worth considering - it's perfectly designed for the demands of banking and insurance organisations. Highly sensitive information must be stored on ever-available, totally reliable servers and kept uncompromisingly secure every second of the day. Meanwhile, data must remain accurate, compliant and up-to-date. An appropriate UC strategy can deliver all these things, and make the difference to performance and customer service.

Stay seamlessly secure

Network security is the lifeblood of every financial service institution. From client accounts to admin and documentation, every inch of information must remain safe from prying eyes. UC features the latest security protocols to ensure effective protection 24/7/365: all without affecting operational performance.

Communicate constantly

With business being done every minute, in locations all over the world, effective communications infrastructure is critical. UC utilises the latest Cloud technologies that enable truly omni-channel interactions with customers, wherever they are and however they prefer to connect. What's more, software and application updates are installed as they become available, so solutions are always up-to-date.

Make better business decisions

The resulting speed, availability and accuracy of information means critical business decisions can be made faster and with greater awareness of all relevant factors. Every employee across the institution can use UC to access the tools and channels they need to keep in touch with the colleagues and customers that matter to them most. So, they can achieve more in less time, while building more productive relationships and delivering superior service levels.

Maintain compliance

These days, financial institutions are required to record every customer interaction. The sector has made great strides in improving its compliance procedures, and is tightly regulated with constantly changing rules. This scrutiny can be challenging to satisfy - but it's significantly simpler with a robust UC strategy. Cloud solutions offer near-limitless capacity and storage, with the operational flexibility to provide communication channels on-demand. Operational performance and actions can be logged and analysed as they happen to improve customer experience and meet regulatory needs.

The case for UC to improve customer service and operational excellence in financial services is therefore clear-cut. But it's also time-critical. To stay competitive, the sector must move quickly to embrace these technologies and deploy them in a way that brings the best out of their business.