As a financial institution, you need communications solutions built for your specific needs. You need a secure, compliant system that will allow you to communicate in real time with your customers and others within the organization. This system needs encryption technology, the ability to authenticate users and the capacity to scale with your growing business needs.
These demands can feel like a tall order. However, communication solutions like those offered through CRI can help you reach your goals. A top-performing platform will include nine key features that make up a financial communication system that fits your business needs. Here are the essential features you’ll want to see in a new system.
1. Analytics Platform that Helps You Cut Costs
A powerful platform with performance analytics will proactively monitor your entire network, pinpointing when and where problems occur before they cause issues for your overall system. High-quality analytics track potential problems with voice quality and connection.
With these analytics at your fingertips, you can manage large networks more efficiently. Finding the problems quickly also reduces system downtime – which could cause problems for your business. With around-the-clock monitoring, you can trust that your network will never give you an unfortunate surprise.
2. End-to-End Encryption
End-to-end encryption keeps your network safe so you can provide your customers with the services they need. Access to encryption technology will protect your data and the communications sent between those at the organization or you and your customers.
With end-to-end encryption, an algorithm scrambles the standard communication text and keeps it encrypted throughout the entire transport process, from one endpoint to the other. This keeps communication secure and protects your clients’ financial information.
3. Multifactor (or Two-Factor) Authentication
Using multi-factor authentication provides an extra layer of security to all activities within your financial institution, increasing the level of protection and making it significantly harder to hack any account.
With multi-factor authentication, logging in goes beyond just needing a username and password. Once you enter this information, the system will require an additional form of authentication before allowing access to the secured data. For example, the system may send a text message to a phone on file with a passcode. This additional layer of security means that more than simply securing the password to an account is required, making it substantially harder for malicious actors to gain access.
4. Seamless Communication Through Advanced Call Routing
Advanced call routing places each call to your business in a queue and automatically sends the call to the person or group that can best answer the caller’s needs. The system might use prompts to learn more about the caller’s needs so that the optimal person can receive the call.
This feature matches customers with the representative that can best help them. Customers now receive optimal customer care and faster service, addressing their needs promptly.
5. Scalable Systems
Financial institutions need unified communication capabilities that set them apart from the competition and can quickly accommodate a growing number of customers. When people call your company, they want their needs addressed rapidly, and if you cannot meet this need, they will turn elsewhere.
A scalable system with CRI’s unified communications solutions provides businesses with a customized plan that meets their size and needs. With a platform that easily scales up in capabilities as the rate of calls increases, your company does not have to slow down unintentionally.
6. Support in Any Language
To build a welcoming company, providing support in multiple languages is critical. With multi-lingual support, customers can indicate the language they feel most comfortable with at the start and then transfer to a representative comfortable working with them in that language.
This service eliminates potential language barriers. It welcomes customers from various backgrounds and allows you to expand into global markets.
7. Built-in Compliance
As a financial business, you understand the importance of compliance with different regulations. These rules are in place to protect customer information and your communications solutions should help you stay on top of all the requirements.
To keep your business on track, find a system that is already compliant with regulations such as:
- MiFID II
- PCI DSS
A system with these compliance measures will protect your customers without you having to take additional steps.
8. Highly Reliable, Redundant Systems
A communications system you can count on will keep you engaged with your customers. You want to avoid interrupting communication within your business or with your customers.
A redundant, reliable system can help you achieve this goal. With a redundant system, you have backups automatically built into your network. If some parts go down, you will keep running without interruption. This reliability gives your customers better service and removes the risk of frustration.
9. Artificial Intelligence and Automation
Artificial intelligence and communications automation show tremendous potential for improving the management of repetitive tasks and responsibilities. As a financial institution, you know the importance of monitoring for fraud and authorizing transactions. Automation can run jobs like this faster and smoother. Incorporating these tools keeps your business on task, operating efficiently even as your customer volume increases. Your customers also appreciate the ease with which you can process transactions, raising the standard of customer care.
CRI: Your Go-to Partner for Financial Communications Solutions
Your communications partner needs to understand your mission as a financial institution and provide you with the solution that will advance your business. CRI works with financial institutions in Tennessee, Alabama, Georgia and Virginia, so we have the experience and technical know-how to combat your specific communications challenges. Our team makes the process of finding a new communications solution streamlined and easy to ensure we’re not adding more things to your plate. Reach out to us today if you’re ready for a communications partner who’s as invested in your success as you are.