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 2023.
RingCentral and Haysmacintyre
Haysmacintyre, a UK-based accounting firm, recognized the importance of effective communication for its employees and sought to invest in a communication system to improve collaboration.
The company's existing cloud platform was not meeting its telephony needs, leading them to search for a more comprehensive solution.
With the help of CDW, the company switched to Microsoft Teams, but still needed a solution for external calling. They found the final piece of the puzzle in RingCentral MVP, which allowed them to embed cloud phone capabilities into the Microsoft Teams environment
Since the integration, the company has experienced significant workflow improvements, with all communication tools accessible within Teams itself. The company also leveraged Bridge Communications to add call routing capabilities. The unified communication platform has empowered remote teams and provided a reliable and scalable solution for the company's communication needs.
Avaya and InspereX
InspereX, a fintech firm, faced challenges with an outdated on-premises phone system, leading them to switch to Avaya Cloud Office by RingCentral.
Avaya Cloud Office provided flexibility, scalability, and mobility to employees, allowing them to use the solution on various devices.
The solution enabled InspereX to eliminate the need for old PRI circuits at certain locations, reducing costs and allowing for rapid implementation of the new communication environment. Avaya Cloud Office became an important component of InspereX's digital transformation plans, improving communication and collaboration while reducing IT burden and costs.
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 Penn Community Bank
Penn Community Bank had been struggling with the use of various tools for customer service and internal communication which had resulted in loss of productivity and confusion among employees.
The bank decided to look for a solution to unify its teams and opted for Zoom Meetings, Phone and Rooms, as it was the most user-friendly and scalable option.
The transition to the Zoom ecosystem streamlined workflows, empowered employees and reduced the 'toggle tax' experienced previously. The bank found Zoom's offering compelling as it did not compromise on security and compliance. With Zoom, Penn Community Bank saw a significant increase in productivity, happier and more engaged employees.
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.
