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The Benefits of Cloud-Based Communications for Financial Services

For a financial services company, communications is a high-stakes game. Just last year, JPMorgan Chase was fined $200 million for improperly managing its communications system. However, with cloud-based communications, you can avoid the ire of regulators while simultaneously improving customer relations, scalability, and productivity.

If your financial services organization isn’t using cloud-based communications, you could be opening yourself up to regulatory headaches and putting sensitive information at risk. In this blog, we’ll cover the main benefits of opting for more modern communications.

Stay Compliant

Implementing a unified communications solution can help you better control work-related communications because it’s a single application for calls, messaging, file sharing, meetings, video conferencing, and more. Having all communications unified under a single solution makes it easy to monitor and report on the interactions between your employees and customers. This way, you can keep track of how well you’re meeting compliance standards and easily provide the data regulators need to see, whenever necessary.

Improve Customer Relations

In the financial services sector, communication and virtual meetings play a pivotal role. With cloud-based communications, you can give your clients more options for connecting, such as online meetings, video conferencing, chat, or phone calls. This puts you in a position to enhance client interactions and provide them with all the information they require in a professional, remote setting with features such as HD video, screen sharing, and file sharing. At the same time, you can minimize what you spend on your communications needs and enjoy a single, simple system that requires minimal IT support.

Gain the Scalability That Comes With Cloud-based Communications

Let your technology grow with you. On-premises phone systems can’t match the flexibility offered by cloud-based communications. You can easily add new members as your company expands and manage user counts and private meeting spaces. In addition, you can add an unlimited number of teams and groups, making it easier to create a communications infrastructure of new divisions or departments as needed.

Boost Internal Productivity

You can also increase efficiency with cloud-based communications. Team members can take advantage of a variety of tools that make their day-to-day tasks and collaboration easier. For example, employees can work on projects easily and productively within a single application thanks to the productivity feature the solution includes, such as:

  • Screen sharing
  • Chat
  • File sharing
  • Whiteboarding

With UCx with Webex from TPx, you get a flexible, scalable solution that empowers you to boost productivity, scale, and enhance customer relations — all while staying within compliance guidelines. See the potential for your business by connecting with TPx today.

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