Financial services encompass a list of organizations such as banks, stock brokerages, credit unions, credit card companies, investment funds, etc. The main challenge for these organizations is to constantly comply with an endless list of new regulations. Financial services, aside from confronting these challenges, should also think about cutting costs, providing high-level data security, and standing out from tough competition. They are seeking for answers to all these questions. But the answer is very simple, all they need is the right communication system. Financial service workers know better than anyone else that every penny count. Telephony system is a major cost for financial services that frequently make long-distance calls. That’s why we want to draw your attention to the best-in-class solution for your phone system. VoIP is a tempting offer for financial services. It has become the favorite telephony solution for most of them thanks to its abound benefits.

DERIVE ADVANTAGES OF VOIP

Let’s understand what your financial service will get from VoIP phone system benefits.

Cost-effectiveness

VoIP gives businesses the ability to have better insight into the costs of their company’s phone system and make data-driven decisions. In contrast with a traditional phone system, VoIP handles the installation and maintenance, while providing free nationwide calls and low cost international calls. You only pay a stable monthly bill. No more physical copper cables or heavy and outdated equipment. All you need is an Internet connection and IP phones to reap the benefits of phone features. Most VoIP vendors provide these features without any extra charge. Aside from these VoIP benefits, it also eliminates phone lease expenses and gives financial services more flexibility in communication management.  

High-level customer service

Your employees now are able to collect data about the company’s communications for future reference. This empowers your employees to develop customer service strategies that put the client first. This also helps you identify customer service concerns and create the most effective communication strategy for everyday interactions. No more unsatisfied customers. With flexible VoIP features, your employees will not have to ask your customers to call another location in case they have called with the wrong number. They can just transfer the call to the other branch while your customer stays on the line.

Data integration

VoIP allows integration with a batch of applications that will help both to save time and facilitate daily activities. Integration with systems like CRM will give your employees the ability to collect information and deliver even more personal service to each of your clients. All thanks to the online system that automatically pulls up the customer’s information on your screen when your customer calls. Your agents also can market your services through its highly regarded features that are simplifying the communication and customer service. Thanks to API integration, VoIP allows you joint access with your partners to certain data. This will enable you to make exchanges, sales, and share business information securely with your partners. You can also inform your partners about upcoming products and their charges, policy changes, and regulations.

Compliance with industry related regulations

In case of data breach, financial services face penalties from regulators and lose the confidence of their customers. All the calls with a customer must comply with industry regulations. Financial companies that keep personal and financial data must provide full analytics of calls and messages. With VoIP, you do not have to collect anything and go through all these hassles. It is flexible enough to automatically record all the calls and messages for future reference. Also, you can listen to the calls live for quality assurance and compliance purposes. Switching to VoIP, you should be 100% sure that your provider is able to provide that level of security. You should thoroughly ask your provider about the security level and the presence of communication encryption technology. We, in mango9, guarantee military-grade security for your financial company’s communication.

Increased collaboration within your team

With VoIP, your employees are mobile enough to be always on the go, but at the same time stay informed about the company’s latest news and stay in touch with your on-site employees and customers. Aside from being mobile and being under one roof, VoIP also allows your off-site and on-site employees to effectively collaborate regardless of location or department, thus distribute higher level of productivity. Your employees from different departments, for example, may develop an effective solution that benefits your financial service even without sitting next to each other. Even more importantly, your financial service can cooperate with other firms like accountants, investment advisors for gaining advice, and joining services for their customers. You and your partners can communicate using audio, web, or video conferencing services via either desk or mobile devices, share ideas, plans, or presentations.   VoIP has come and made a world of difference in this industry. VoIP gives financial services the ability to deliver high-level customer service while cutting costs and complying with industry regulations. Now that you are aware of the benefits of VoIP, decide yourself - is it worth the investment? Make the right decision for your successful financial business.

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