Financial services: Transformative communications technologies and use cases
Across the financial services industry, investors, depositors, borrowers, and policyholders demand greater access, less wait times, and actionable advice. To get it right, firms must establish the proper mix of human-led and digital-led services. RingCentral’s cloud communications platform enables you to achieve this. Our open APIs can help you automate more complex workflows to humanize digital services and to digitally assist your front office producers. RingCentral APIs give you the tools to transform your communications handling from client solicitation to onboarding to servicing.
Through the use of text messaging (or SMS), interactive voice response (IVR), and chatbots, financial institutions are able to automate more complex transactions and reduce account servicing costs while increasing access and building trust with investors, policyholders, and depositors.
Here are some key examples:
• SMS text messaging can be used to confirm transactions, transfers, or trades. Texts can notify borrowers of minimum payments and alert them to suspicious activity.
• IVR can provide secure and verified account servicing options for balance inquiries, transfers, bill pay, card activation, exception reviews, and more.
• Chatbots can offload simple yet time-consuming interactions with customers, helping to guide the help-seeker to resolve their simple transaction or to be transferred to a human-led service.
• Analytics across channels can track your customer’s journey to help you refine productive approaches.
Additionally, all the above communications methods can be fed securely to your communications surveillance and compliance systems. To meet regulatory and audit needs, the API allows conversations and events to be securely recorded, logged, and retained.
