The world of insurance and finance are changing rapidly, with non traditional players and fintechs challenging slower-moving and heavily regulated incumbents, while digital customers increasingly expect the same responsiveness and digital convenience from financial services that they get from their consumer-grade, digital native services and applications.
Read more to see how smart cloud communications platforms can help you get up to speed with a changing market.
Get to grips with top challenges
- Always-on insurance
- According to Insurance Europe¹, customers today expect to engage with their insurers whenever and however they want.
- Insurers also have to protect consumers’ privacy and personal information. They must offer innovative and convenient tools, such as smart contracts and in-app claims processing – anytime, anywhere and on any device.
- Personalised, digitally enabled banking
- Now, with a highly digitised customer base, banks must embrace digital technologies (e.g. Artificial Intelligence (AI), Blockchain, open banking) to develop better financial services products and experiences for customers, including those who cannot access financial services, notes the European Commission³.
- Do more with less
- This complex and competitive environment must be handled more efficiently, with fewer staff members: The European Banking Federation reports a steady decline in the number of employees in credit institutions⁴.
- Post-pandemic, many organisations may opt to retain remote and hybrid workforces. Thus, staff must be enabled to be productive and deliver service excellence from wherever they are.
- Trust across all channels
- Finance and insurance are deeply personal matters for customers. Whether they are engaging in a branch or via an app, they need to know that their service providers are responsive, trustworthy and compliant.
- Smart omnichannel service
- To perform optimally and deliver service excellence, customer onboarding and customer claims/querieres/complaints must be handled efficiently across the channels the customer prefers.
- Hence, the contact centre must be equipped with a full customer background and context.
- Onboarding for life
- Spoilt for choice, it is the customer experience that is now the top differentiator in insurance and banking, and this experience starts with the onboarding process.
- It therefore makes sense to employ the right tools, such as a cloud telephony system integrated with all other touchpoints in the customer experience (CX) journey, from the onset to support a seamless and convenient experience at this critical stage of the customer relationship.
Discover the NFON Cloudya difference
NFON’s smart cloud communication platform makes the shift to cloud easy, fast and compliant, giving you real freedom to communicate from anywhere, anytime, and across any channel or device.
- Fail-safe and accessible.
With modern functionality and transparent management, cloud‑based solutions like NFON’s Cloudya are fail-safe and accessible anywhere, bringing you simplified voice calling, easy video conferencing, and seamless integrations for CRM and collaboration tools.
- Take care of compliance and risk.
Neorecording and ASC Recording Insights for Microsoft Teams (only UK) support compliance and risk management by processing calls recorded across all channels and managing data through fully compliant cloud data centres and servers.
- Integrate legacy systems.
NFON Integration for Microsoft Teams allows for legacy systems to be seamlessly integrated into the next-generation communications platform.
- 24/7 support.
Access every business communications function through one integrated cloud communication platform which enables customer contact via several channels. NFON’s cloud telephony system integrates with over 300 CRM systems while their intuitive interfaces and rich features enable highquality customer support.
- Marketing across channels.
You can now offer new services and information through outbound dialling and messaging campaigns to lists of people in accordance with programmable rules and do so in the customer’s channel of choice.
Better communications boost competitiveness
In a nutshell, it is clear that for finance and insurance organisations to gain a competitive advantage, they must enable:
- digital,
- seamless and
- integrated communications.
This allows them to:
- be more agile
- optimise the use of their available data
- deliver exceptional customer experiences
- support greater efficiency at a lower cost.
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Get ahead in the market with a cloud communications platform
With advanced cloud-based unified communications (UC) systems, you can enable agile, secure and compliant communications with customers, branches and back offices, benefiting from cost savings and flexibility.
UC allows you to seamlessly integrate communications channels and data to equip the right people with the right information at the right time, deliver better services and align with risk management and compliance imperatives.
Cloud-based communication platforms make it easy and cost effective to deploy UC that is easy to scale and enables always‑on services and support, with costs up to 50% lower than traditional PBX systems⁵.
Because the cloud is secure, stable and scalable, you can trust cloud-based platforms with sensitive data, high-volume demand and your need to be always-on, always available.
NFON solutions are designed to support businesses to improve their teams’ performance and their internal customer experience through streamlined communication – no matter where they are or what devices they have.
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Get ahead in the market with a cloud communications platform
Get a trusted UCaaS innovator on your side. NFON is a trusted communications provider, and is also ranked among Europe’s 10 most innovative companies in the Hosted IP Telephony and Unified Communications-as-a- Service (UCaaS) market by Frost & Sullivan⁶.
We’re making communications smarter and simpler, so you have a lot less to worry about in a fast-changing financial services environment.
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If you'd like to know more, get in touch on 020 3740 6740 or drop us an email at hello-uk@nfon.com
1https://www.insuranceeurope.eu/priorities/26/digitalisation
² https://www.oliverwyman.com/content/dam/oliver-wyman/v2/publications/2021/jul/European-Banking-Outlook-2021.pdf
³ https://ec.europa.eu/info/publications/200924-digital-finance-proposals_en
⁴ https://www.ebf.eu/wp-content/uploads/2020/11/EBF_043537-Banking-in-Europe-EBF-Facts-and-Figures-2020.pdf
⁵ Cloud-based customer service solutions for the digital age
⁶ www.uctoday.com/unified-communications/ucaas/frost-sullivan-names-nfon-ag-in-top-10-most-innovative-ucaas-companies