The year draws to a close. Not only the increasing regulatory demands at national, European and international level have been presenting challenges on banks and financial institutions in the past year; customer expectations and their communication methods have also fundamentally changed. Customers are expecting access to their banking services around the clock – irrespective of where they are. But which are the challenges that CIOs and IT managers have to expect in the coming year?
1. Security for Data Communications
With the explosion of data communications in banks such as transactions, emails, SMS confirmations, and even fax, there is also greater risk, and banks will need to ensure that information is transmitted free of error and with a high level of security. Enterprise Messaging Services offer comprehensive encryption and authentication technologies thus supporting financial institutions in securing their communication networks.
2. Digital sales channels
The way how customers interact with their bank is changing drastically. To reduce costs, optimize their sales structure and to ensure a stronger customer orientation, financial institutions should address their customers across multiple channels. It is, besides, of utmost importance that banks be able to contact their customers reliably and on time. Depending on the situation, different means of communication might be recommendable: A leasing agreement should be sent by fax, while a financing request can be answered via email, and a payment reminder can be sent by SMS. When using a web-based transmission platform, information is sent to each recipient by their preferred method.
3. Innovative communication technologies
With the rise of digitalization, the use of innovative communication technologies is also necessary to design banking processes and implement a future-oriented business model. Highly developed interfaces, global availability and absolute fail-safety are required to guarantee the success of communication-based business processes while banks will need to meet the highest demands for quality, speed and data security. Valuable support is provided by innovative cloud services for B2B communications, which can be flexibly adapted to new requirements at any time, thereby meeting the highest standards of security, compliance and data protection.
To read more about how Retarus supports banks and financial institutions in optimizing their digital communications, click here.
