Unified Communications Offers Value to Small and Medium-Size Businesses - Financial Services Companies
Financial Services Business Challenges
Smaller financial services (FS) organizations include credit unions, regional banks, savings and
loan companies, and credit institutions. These organizations face many challenges in customer
retention and sales revenue from SMB and larger financial institutions. Typical concerns of FS
High competition for customers. Todays customers are demanding, and retaining
customer loyalty is challenging for FS organizations whose customers receive many other
solutions for their business.
Lack of available product experts. Providing responsive customer service often includes
the advice from subject matter experts (SMEs) to support more complex customer
interactions. When SME response is delayed, it affects customer satisfaction and may
prolong sales proposal processes.
Customer complaints for slow response. Peak banking times challenge FS
organizations and often cause customers to experience long wait times for branch or
telephone services. FS organizations look for better ways to support these peak times
without the addition of headcount.
Inability to complete customer transactions in a single session. FS organizations often
do not have available resources or information to complete a customer transaction within a
single session. This results in higher transaction costs due to iterative communications
between the FS organization and the customer to complete transactions.
Slow response to customers using alternative channels. FS organizations encourage
customers to use their Web sites or telephone channels instead of making an in-person
visit, but they often fail to provide adequate service levels for these alternative channels.
Rising costs for facilities and staff. To reduce costs and extend support, FS
organizations look for better ways to operate more effectively without increasing staff and
incurring additional costs. To contain costs, banks must evaluate new ways to increase
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