Of all the sectors perfectly placed to cash-in on the ever-evolving digital revolution, surely it is financial services.
Time-starved customers; data-heavy workflows; no ‘physical’ product: the opportunities to leverage a virtual business model abound.
Indeed, for traditional, bricks and mortar institutions, digitizing is critical if they are to compete with new, dynamic, born-in-the-cloud disruptors. All the more, in the era of ever-evolving fraud and security threats.
Communication, of course, is a key element of the whole. The ability to interact with customers 24/7 and, most importantly, via the channel of their choice, is crucial. Unsurprisingly, the ability to do so securely is essential.
Deploying a powerful, feature-rich and secure Communications Platform as a Service (CPaaS) solution enables financial institutions to deliver on all fronts.
“The behaviours of the banking customer is rapidly changing, thus pushing financial organizations to improve and offer their services via different digital channels in order to keep pace with their competitors,” says Asha Potla, Director of Product Management, Enterprise Messaging, at leading provider Soprano, whose Soprano Connect platform is helping the sector do just that.
“The pressure is on for Chief Digital Officers to meaningfully connect digitally with consumers in order to improve the customer experience. To put it simply, banking institutions can’t afford to put off investing in a financial digital communication strategy that nurtures authentic connections with consumers at every opportunity of engagement.”
Indeed, recent studies suggest that financial firms without a digital transformation strategy risk a 60% fall in profits, and yet only 53% of banks’ customers have truly adopted mobile banking apps.
That said, the ability for enterprises to provide a frictionless digital user experience is a challenge that is hard to overcome. Add-in that all-important security dynamic and it’s easy to see why the technologically powerful, securely-compliant, all-in-one-place CPaaS is increasingly the answer.
