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According to the Open Network User Group (ONUG), a consortium of IT leaders including Bank of America, Fidelity Investments, JP Morgan Chase, UBS, and Gap, among the top priorities to reduce network expenses was WAN management, coming it at #3.
This should not be a surprise with the growth of bandwidth demands from cloud, mobility and rich media applications like video. In fact, 68% of IT decision makers expect their WAN demand to grow. However, few (1 of 4 IT organizations) will have addition budget to pay for it.
Next week, over 5000 IT leaders will be meeting at CiscoLive Milan to find out how to prepare their organization for the opportunities ahead, and build a next-generation network. One essential element is building out a next-generation WAN.
For attendees making their way to the show, here are few sessions and demonstrations to note in your show planner.
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Tags: #CLEUR, branch, cisco live, IWAN, webinar
Are you familiar with the bank of yesterday? One where trying to meet with an expert can translate into being required to travel across town or deal with lengthy wait times and lines? Where it can take days and even weeks to receive and sign documents to close a mortgage or open a new account? And yet many other aspects of your life can be addressed from the privacy and security of your home, at a time that is convenient to you.
I suspect many have encountered these or similar frustrations while attempting to gain valuable advice and support from a financial expert at a bank. However, these are becoming issues of the past thanks to the emergence of the omnichannel banking model.
The bank of now is here. Customers may make their own choice of when, where, and how they want financial service interaction. The omnichannel model orients the bank to focus on the customer, independent of product or geography, enabling customers to connect with the right expert at the right time at their preferred channel. One key to executing this strategy is recognition that a bank has to go beyond yesterday’s multi-channel integration by leveraging technology to virtually connect customers with the people who are best suited to address their needs. To get started down the omnichannel path, Read More »
Tags: banking, branch, Cisco, customerexperience, Financial Services, omnichannel, video, wealth management
In part two of this three-part series detailing the “Evolution of Immersive Video in the Retail Bank Branch,” I looked at Cisco’s Remote Expert Solution more in-depth and discussed how the solution’s contact center enables virtual face-to-face meetings with high-definition video. By offering customers instant access to knowledgeable experts, even when customers are in remote areas, banks can provide personal service resulting in improved customer confidence in the relationship and greater loyalty. Now that we understand how the solution works, I’d like to take a deeper look at the solution in action and discuss how Remote Expert can meet customer needs in three key business areas.
Wealth Management Services
Remote Expert’s video sharing capability allows investment advisors to visually see the customers they are pitching new products and services to and helps them to gauge how to lead the conversation. In some cases, portfolios may be complex, especially when involving trusts, so video adds an additional medium in which to connect with the customer and explain the approach being presented by the wealth advisors. This is something that cannot be accomplished easily over the phone and traditionally has involved air travel to meet the customer in person. For ultra-high-net worth customers (> $2 MM), Remote Expert also provides a way for multiple advisors to join the conversation remotely to guide the client through the estate planning or wealth planning discussion.
Today, there are many mortgage programs and products available. In addition, many state and federal regulations exist as it relates to quoting and working with customers on mortgage programs. Video has been shown to be an effective way to drive additional understanding of those various mortgage products and a way to work with the customer through the pre-approval process and up to the point of underwriting. We are finding that banks are still opting for the traditional in-person closing process, but more and more institutions are experimenting with completing the entire mortgage process using Remote Expert and the available video capabilities it provides. Read More »
Tags: branch, Cisco, customerexperience, delivery channel, Financial Services, omnichannel, remote expert, retail banking, video
In the first part of the “Evolution of Immersive Video in the Retail Bank Branch” series, I discussed how the retail banking industry is currently undergoing organizational changes that are affecting customers’ banking experience, including the knowledge and interaction they receive upon entering a bank.
Through these new organizational changes, banks are integrating new technology as part of their business processes to attract the more tech-savvy customers that desire choices and convenience when banking. Through Cisco’s Remote Expert solution, banks can meet these customer needs while making their business processes more cost and time-efficient and improving the customer experience. The Remote Expert solution enables virtual face-to-face meetings with high-definition audio and video.
Through Remote Expert’s integration with Cisco’s contact center, retail banks can leverage their existing database of enterprise-wide, skills-based information on the organization’s experts and make it available to customers at any time during business hours. Remote Expert allows a customer in the branch to find the right banking expert to meet their needs, including inquiries about annuities or questions specific to mortgage brokers.
Not only does Remote Expert enhance the bank’s existing channels and provide convenience for banking customers, it also reduces costs for all parties involved. Read More »
Tags: branch, Cisco, collaboration, customer, customerexperience, Financial Services, omnichannel, personalized service, remote expert, retail banking
Cisco’s Financial Services Industry Marketing team is pleased to welcome a monthly contribution from industry professionals sharing their insights and observations on key trends in the Financial Services industry. The opinions expressed in these posts are those of our welcomed guests and may not reflect the opinions of Cisco.
Jerry Silva, Principal at PG Silva Consulting, is a 25 year industry veteran and thought leader in retail banking. He recently had the opportunity to discuss what comprises a high quality customer experience with Kelly McSwain-Campbell, Customer Experience Director at US Bank. In this role, Kelly is responsible for working across the enterprise with all lines of business and channels to help ensure teams deliver a differentiated customer experience that builds stronger and deeper relationships.
Delighting the Customer: Simple Works
As a banker and technologist, I’ve spent a lot of time dealing with systems that manage customer self-service channels like the ATMs and online banking, or with the systems that bank staff uses to interact with the customer. As a consumer of banking services myself, I’ve always been interested in the people side of services delivery and how banks can deliver quality experiences at the branch and the attended contact center.
I recently had a chat with Kelly McSwain-Campbell, SVP and Customer Experience Director at Minneapolis-based US Bancorp, and asked her for some insight into today’s challenges and how she manages to delight the customer in spite of the increasing complexity of the banking environment. Organizational and technology complexity sometimes work to hinder our ability to provide an excellent customer experience and we as bankers sometimes find ourselves even more distant from our customers.
But during my discussion with Ms. McSwain-Campbell, she made it clear that given the challenges with managing customer expectations across the multiple delivery channels, she is focusing on simple but effective ways to stay connected with customers at each point of interaction. We spoke about three areas that can ensure customers continue to enjoy the best banking experience possible. Read More »
Tags: branch, Cisco, customerexperience, Financial Services, personalized service, retail banking