Of all business sectors, the financial industry may actually be the most in need of efficient communications. In fact, the feature-rich capabilities that come with a more advanced business phone solution can offer bankers, insurance agents and financial advisors a broad range of competitive advantages.

    Here are three ways the financial industry can trade up with a robust business phone system:

    1.) No More Communication Silos

    In-house networks can stifle customer service rather than grow with your customers’ needs. Conversely, an advanced business phone system—hosted on one, single IP platform—brings together telephony, customer interaction, front office operations and mobility to deliver a reliable, unified communications solution. One flexible communications network accelerates staff productivity by integrating everything from enterprise email to workers’ personal mobile devices to instant messaging services.

    2.) Maintain Client Focus

    A lot of companies are falling short in the customer-focused finance industry. In fact, research shows that 45 percent of American consumers consider customer service in the finance industry to be either below average or poor. Help your bank branch attract more prospects and retain more existing customers with an advanced business phone system that can reduce hold time and route calls based on a criterion of customer information, ensuring first-call resolution. What’s more, sturdy backup capabilities keep any data loss—including pertinent customer data—safely preserved.

    3.) Embrace Multiple Communication Mediums

    Regardless of the channels through which your customers prefer to contact you or be contacted, you should be able to support them. Your customer may want to use self-service to pay a credit card bill, but may still want to contact you the following week using live chat for a separate reason. Communicating via multiple mediums also enables you to more quickly introduce new financial products, services and specials to your customers.

    In times of economic strife, people increasingly turn to financial services for help. Support them by supporting your business with the right technology. Click here to explore other ways that an advanced business phone system can complement this highly competitive sector.