Financial services companies haven’t always been on the front line of the technology landscape. Embracing new tools and tech means opening the door to potential risks and issues with compliance most companies would rather avoid. However, as digital transformation continues to accelerate at an incredible rate, brands are discovering a need to evolve at the same pace.
UCaaS and UC solutions promise a host of potential benefits to modern Financial Services brands. The right UC solutions empower staff to work more collaboratively in the distributed world of hybrid work. At the same time, these tools pave the way for innovation with new apps and solutions for enhanced customer service.
Of course, for any financial services company, it’s helpful to see evidence of the transformational nature of new technology, before beginning an investment. With that in mind, here are some insightful financial services case studies worth reading in 2022.
RingCentral and First Bank
First Bank, a multi-billion dollar financial services company, turned to RingCentral when they discovered a new demand to modernise and enhance their communications services. The First Bank brand had a long road ahead when it first decided to update its core systems from legacy PBX environments into a cloud-based ecosystem. However, RingCentral was on-hand to make the transition as smooth as possible across many global locations.
According to First Bank, implementing RingCentral technology helped the brand to achieve a 30% saving on all of their phone system assets.
What’s more, the company also commended RingCentral’s commitment to delivering a sensational level of customer service and support throughout the migration event. This case study offers an excellent insight into how the right communication technology can lead to significant transformations for bigger brands.
Meta Workplace and DNB ASA
Meta (previously Facebook) offers companies an easy road into the new world of communication and collaboration with the Workplace ecosystem. In recent years, a number of financial services companies have discovered the benefits of moving into this new collaborative environment, including the largest financial services group in Norway, DNB ASA.
In this case study, Workplace explores how DNB ASA was able to transform its workflow to suit a modern, hybrid workforce, capable of attracting a younger population and new talent.
The Workplace ecosystem gave DNB ASA the tools it needed to strengthen teamwork throughout the business environment. Around 74% of respondents in the case study said Workplace made it easier to keep tabs on what was happening in the business and share knowledge. What’s more, 90% of employees chose Workplace as their preferred communication tool.
Zoom and Complyport
A financial services company involved with compliance leadership, Complyport has built its success on helping international companies to meet ever-changing regulatory requirements in finance law. This UK-based company, founded in 2001, has discovered a rising demand to evolve and innovate in the increasingly digital environment over the last couple of years to help support teams and better serve their customers.
After implementing Zoom Webinar technology to help educate their clients and improve marketing initiatives, the company also implemented Zoom video meetings as part of a complete UCaaS strategy.
According to the Complyport team, communicating over video has made it easier to share information between members of the workforce, and provides more immersive customer service. Once the company started using Zoom, the team find it much easier to start implementing more aspects of the Zoom video-first ecosystem into their day-to-day activities.
Poly and SCOR
Poly (Previously Polycom and Plantronics), is one of the leading innovators in the AV industry, helping companies of all sizes to build more immersive meeting rooms and collaborative experiences for their teams.
SCOR, a leading international company in the insurance and financial services market, embraced the technology of Poly, and Microsoft to strengthen their collaboration strategy, and unlock the power of video conferencing.
According to this case study, the SCOR brand was looking for an immersive way to enhance remote interviews, improve recruitment efforts, and improve interactions between team members. Using Poly technology and Microsoft resources, the SCOR team was able to unlock a new level of collaboration, while improving HR initiatives for future teams.
Cisco and EFG Hermes
A pioneer in the financial services space within the Frontier Emerging Landscapes space, EFG Hermes offers both investment banking and a range of bank financial products catering to corporate, retail, and institutional clients. The company has been growing rapidly over the last couple of years, but according to the team, one of the issues they frequently struggled with was collaboration.
While EFG Hermes had experimented with a number of teleconferencing solutions in the past, they hadn’t found anything capable of bringing their teams together and integrating with the various systems already in use within the company, until they encountered Cisco and the Webex environment.
The Cisco Webex technology, as well as hardware like the Cisco Webex Board, allowed EFG Hermes to create a fully integrated and immersive teamwork experience for staff members moving into the new age of cloud-focused work.
Avaya and InspereX
Leading fintech firm, InspereX has a vision to break down the barriers countless investors and issuers face when trying to access fixed income markets and linked securities. However, to deliver the kind of experiences customers are looking for, the company first needs to ensure its team members can communicate, collaborate, and work effectively in any environment.
InspereX selected Avaya Cloud Office technology, powered by RingCentral, for innovation and collaborative experiences delivered through a cloud-focused solution. The all-in-one system for UCaaS allowed the team to unlock better flexibility and mobility, with reduced risk of carrier and hardware failure, and lower costs.
According to InspereX, the team was able to achieve easier connectivity across multiple US office locations, a reduced IT burden, and better flexibility to make and receive calls anywhere.
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