From new-age apps encouraging investing to mobile deposit and banking to the gamification of saving money, the financial services industry has greatly benefited from recent waves of digital innovation. As technology continues to evolve, the relationship between technology and its role on customer experience can deepen.
Unified communications is just one example of how innovative technology can improve customer relationships within the financial services industry. When businesses leverage a single solution for voice, phone, text messaging, video conferencing and meetings, communication improves both internally and externally. Read on to learn the top five ways unified communications creates positive customer experiences.
1. Maintain Compliance
Having all messaging, meetings, phone calls, and collaboration technology in a single, secure app help ensure sensitive communications remain confidential and all communications remain compliant to financial services regulations. Most recently, U.S. security regulators imposed almost $2 billion in fines on a handful of prominent financial firms, including eight major Wall Street banks. These financial businesses were penalized for routinely using messaging apps and other “off-channel” services on their personal phones to communicate with one another. Running all communication from a single platform ensures consistency and adherence to security regulations.
2. Quicker Customer Support
From chatting with financial organizations to real-time access to money, consumers have high expectations of financial firms. Modern technology and cloud communications promote quick, transparent discussion and quick resolution times for problems and issues. Also, employees utilize a more user-friendly cloud platform over clunky legacy phone systems, ensuring they can provide the best customer experience.
3. Supportive Hybrid Work
Financial services organizations were quick to pivot to remote work, and management and consulting have the highest level of remote workers. A unified communications platform ensures security whether employees are working from home, the road, or the office. Collaboration between team members is easier even without face-to-face meetings, and different departments can quickly collaborate.
4. Promote Data-Driven Decision-Making
Rich unified systems like UCx with Webex offer robust data and usage reports, giving insight into how the platform is being used so you can drive better adoption and best practices around communications. Data-driven organizations are 23X more likely to acquire new customers and are 6X more likely to retain those customers.
5. Access to the Latest Technology
Ditch the slow days of hours of downtime when on-premises PBX systems have to be upgraded and maintained. Not only does this massively slow down productivity to keep up with digital transformation, but these upgrades would also have to happen incredibly frequently. Because unified communications are delivered in the cloud, system updates occur automatically, giving access to the latest technology and feature functionality without complicated and time-consuming upgrade projects.
Leverage TPx for Financial Services
A single cloud-enabled communications and collaboration platform helps simplify compliance, improves customer experiences, facilitates remote and hybrid work, and allows financial businesses to utilize data-driven decision-making. Learn more about what to look for in a unified communications solution in our latest ebook. Ready to improve your customer experience with unified communications? Contact a TPx representative today and learn how TPx can help.