Hosted Unified Communications bring together phone, voice messages, and email services to provide optimal efficiency on all fronts. This is a must have in any industry, but it’s essential to remain competitive in the financial industry. A business communications solution that maximizes efficiency and creates a positive customer experience is crucial to expanding a firm’s portfolio and maximize profits.
Deloitte and Touche have identified 5 key trends in the financial industry, and UC can play a role in all of them:
- Personalized Client Experience - Customers expect a personalized approach to financial management and planning. This means that financial institutions need to find better ways to interact with customers and clients. Firms using UC can provide numerous options for clients to interact with them:
- Voicemails can be transcribed into emails so they can be accessed from a mobile device.
- Instant messaging allows customers to communicate with representatives in real time, something that is essential in the fast-paced financial industry.
- Financial advisors can even conduct face-to-face counseling sessions with Video Conference.
- An auto attendant, a feature of Hosted UC can help you create a simple and logical menu that helps clients get to the appropriate person or department. This helps to reduce call volume and reduce caller frustration.
- CRM integration can prepare employees for the client interaction before they even answer the phone. When a client calls the firm, a screen pop-up will show pertinent client information, which can include name, contact information, location, account notes etc.
- Availability - The volatile nature of financial markets means customers want their advisors to be available at any time. Financial emergencies may arise that must be immediately addressed. UC increases the availability of financial institutions and their employees. Since Hosted UC solutions reside in the cloud, employees are able access all the features of a desk phone from their mobile device or PC. With Hosted UC, employees can make or receive calls using their work telephone number, regardless of the device they are using. This helps keep a consistent, professional image. Hosted UC also includes presence, which lets everyone in the firm know their availability. Employees can also personalize the order in which their phones ring, increasing the chance of being reached.
- Documentation & Reporting for Compliance - Compliance regulations are designed to protect sensitive financial information and require that firms keep meticulous records of transactions. The Dodd-Frank Act also requires that financial institutions record all customer communications. UC supports compliance with Call Recording. All conversations between customers and employees can be recorded, stored, and retrieved when necessary. Additionally, Records can be kept of other types of interactions, whether they are through email, voice, video, or instant messaging.
- Accessibility, Collaboration in New Workforce - The workforce in the financial industry is changing. More workers, especially millennials, are choosing to freelance rather than work permanent, full-time jobs. Many workers are also choosing to work from home. Financial institutions need to leverage UC to create