Now more than ever, businesses are managed by the numbers. Throughout the enterprise, organizations are being asked to do more with less. The success of financial services institutions in meeting these goals depends in part upon how effectively they use technology.
In this context, Alcatel is helping financial services institutions use IP technology to assist high-value customers, streamline and automate workflows, and develop multi-channel customer targeting strategies. These solutions are enabling companies to meet their business goals and significantly reduce costs, while improving customer satisfaction.
At Alcatel, we understand the communications and networking needs of financial services institutions. Indeed, we've built voice and data networks for financial organizations of every type, including banks, insurance companies and asset management and securities firms.
Alcatel's solutions for financial services firms are based on the company's award-winning IP networking, IP telephony and Contact Center products, which provide a powerful infrastructure that operates continuously and securely.
THE CHALLENGES FOR FINANCIAL SERVICES FIRMS
Challenges for Banks
- Banks are looking for ways to deliver specialized and personalized service to their customers, in branches, online and on the phone. To provide customers with the appropriate service levels, banks need to identify and segment their customers based on value and individual needs, moving from a product focus to a customer focus. High value customers must be identified to deliver specialized service, maximizing revenue per customer via cross-selling and up-selling opportunities. Expanded Web services are needed for corporate customers, including online international wire transfers, letters of credit, claims processing, etc.
Challenges for Insurance Firms
- Increased market and competitive pressures are forcing insurance carriers to reduce operational expenses and increase efficiencies. A major component of insurance carriers' costs can be attributed to non-automated paper-based workflows for policy underwriting, claims management and customer support. Property, casualty, life and health insurance providers need to streamline operations and improve business process workflows, enhancing the loyalty of customers, agents and brokers.
Challenges for Asset Management and Securities Firms
- Asset management firms are moving towards a customer-centric model that provides a bundle of value-added services to customers. By moving towards a single fee-based asset management framework, securities firms are under significant pressures to lower operational costs. Today, many customers conduct a significant number of transactions using the Internet as the preferred channel. By providing a multi-channel distribution and customer targeting strategy, asset management firms can build customer loyalty and increase market presence while lowering their operational costs.
KEY ISSUES FOR FINANCIAL SERVICES FIRMS
Improve customer management
- Finance firms need to deliver personalized service over the phone, by e-mail or via the Web, offering self-service for basic questions, and enabling agents to spend more time on higher-value transactions. Moreover, finance firms need to use their company's network infrastructure to leverage existing investments in CRM, to maximize cross-selling and up-selling.
Increase operational efficiencies
- Financial services firms require "always-on" connectivity for branch offices and a consistent experience for employees and customers across multiple sites, which may employ a variety of communications and networking systems. New IP-based systems, which offer a proven path for cost reduction, must also offer risk-free migration, while providing support for a mixed-media environment. IP telephony and IP networking can also bring simplified management for voice and data networks, for cost savings without increased staff.
Enhance business productivity
- Both wired and wireless mobility are crucial for financial institutions, as staff members frequently roam throughout buildings and across multiple sites. Access to computing resources (such as printers, shared drives, and application servers) - anywhere, at any time - is crucial for business productivity. Moreover, employee productivity and customer service are enhanced by linking standard desktop applications (such as Microsoft Outlook/Exchange, Lotus Domino/Notes, etc.) to employee communication systems.
Ensure security
- Financial institutions must provide authorized users with full service and broad network access, while protecting and securing the network from attacks and misbehavior of an increasingly computer-literate population.
ALCATEL'S SOLUTIONS
Alcatel's solutions for financial services firms are based on the company's award-winning products:
• Alcatel's IP networking solutions are built on the company's next-generation OmniSwitch products.
• Alcatel's IP telephony solutions rely on the company's:
- Industry-leading OmniPCX Enterprise,
- Breakthrough IP phones, called IP Touch, and
- Innovative Unified Communications applications for unified messaging and instant conferencing and collaboration.
• Alcatel’s software subsidiary Genesys also delivers financial institutions contact center solutions designed to improve services and reduce costs. Learn more
KEY BENEFITS
Alcatel's solutions address the key issues for financial institutions: improving customer management, increasing operational efficiencies and enhancing business productivity, while ensuring security. Key benefits include:
- Connectivity for financial services employees, administrators and customers
- Access to a local high-speed network
- Hotlines and contact centers
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