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Building Customer-Centric Organizations – Cisco at CIO Finance & Insurance Summit

The CIO’s Finance Summit and Insurance Summit were recently held in Atlanta, GA and Cisco was a main sponsor at both events. The CIO Finance Summit provided a great opportunity for executives to have in-depth discussions on the best practices and strategies necessary to build customer-centric organizations. The CIO Insurance Summit brought together C-level executives from the property and casualty, life and annuity, and health segments, along with innovative solution providers and analysts from the insurance industry to discuss the critical technology issues affecting insurance organizations.

Major themes discussed at the CIO Finance Summit:

CIO Summit 1Channel Integration: Bridging the Business – IT Gap: Many banks are now addressing the gaps between business and IT as they move forward with channel integration and an omnichannel strategy. Marvin Cortez, Cisco Banking Practice Advisor discussed the criticality of building an appropriate business with IT roadmap that supported these initiatives and how Cisco is working with retail banks.

Customer Centricity and Interaction – What Will it Look Like in 5 Years? Meaningful client relationships are fundamental to retaining and attracting consumer and commercial customers. Customer preferences and increasing tech sophistication are causing distribution channels to evolve. Al Slamecka, Cisco Banking Practice Advisor, outlined the evolution of customer interaction and addressed the challenges and opportunities banks are now faced with to create the optimal client experience.

Major themes from the CIO Insurance Summit:

As consumers become more educated and savvy about their insurance choices, carriers are addressing the need for greater customer centricity holistically with better insight, optimized processes, and enhanced customer reach through direct and indirect channels.

CIO Summit 2Bridging the Gap, Today and Tomorrow! This session focused on how business and technology gaps are creating both challenges and opportunities. Cisco’s Rob Cornwell, Insurance Practice Manager, and Don Canning, Financial Services Practice Partner Manager, addressed how insurance industry trends are impacting lines of business and the resulting impact on IT strategy across Data Center, Networking, Collaboration and Security as we move toward the Internet of Everything.

IoE for Insurance Roundtable: In this lively exchange, roundtable participants discussed how the Internet of Everything is affecting the Insurance industry. Cisco’s Insurance Practice Advisor, Jeff Tumpowsky, opened with the observation of how the industry is seeing new data sources and how this data is driving new products, intelligent processes, tailored communications and new insights around risk. He explained where opportunities lie, first mover advantages, and what value is at stake for insurers doing nothing.

These two summits provided an excellent opportunity to exchange ideas, share successes and paint a vision of where the banking and insurance industries are evolving to as they address customer centricity, omnichannel sales and service and creating new business models. If you attended, let us know your feedback from the event in the comments section below.  And if you could not make the event, please join the conversation.

 

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IT Spending: Top 8 Areas Where Banks Are Spending Their 2014 IT Budget

As we approach the second half of the year, banks are continuing to shift their IT and marketing budgets to focus on improving and differentiating the customer experience. Consumers are demanding more convenience from their banks, who are responding by expanding channel choices and offering differentiated services that attract these fickle clients. For existing clients, banks are investing in technologies to cross-sell, deepen relationships and reduce customer attrition as part of a larger customer journey initiative. I thought the insights provided by Penny Crosman in her December 2013 article, “Top 8 Ways Banks Will Spend Their 2014 IT Budgets” did a very nice job of highlighting how IT departments will invest to support these initiatives. I wanted to comment on a few of her points to add color with what I’m seeing. Read More »

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Understanding Your Customers – Cisco FSI’s Key Takeaways From Retail Banking 2014

We recently attended Retail Banking 2014 in Orlando, FL, where a wealth of information and best practices were shared, with much of the focus on how the banking industry is moving forward with the evolution of the customer experience. This year’s conference focused on the issues that bankers must deal with now and in the future:  revenue growth, branch optimization, digital banking, analytics, the evolution of social media, and of course, Omnichannel.

I have highlighted below a few of the key concepts and quotes from the speakers at the conference that you might find interesting. Read More »

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Delivering a Next Generation Customer Experience – Cisco at CDM’s Customer Experience Summit

We had a wonderful time at CDM’s Customer Experience Summit in Chicago, IL last week. CDM Media Summits bring together leading C-level executives, analysts and solution providers to network and attend interactive agenda sessions on the latest business topics and trends.

Customer Experience Summit Group

At the event, we gave the opening keynote presentation to address how enterprises can strive to meet the ever increasing demands of the customer.  The summit brought together some of the leading executives from a variety of industries to explore ways of confronting and overcoming current industry issues. This year’s conference focused on topics that enterprises must deal with now, not in the future:

  • Leveraging Big Data
  • Social Media Marketing
  • Predictive Analytics
  • Digital Interactive Marketing
  • Monetization of the Customer Experience
  • Customer Engagement Management Platforms

Read More »

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Post-event: The Ultimate Omnichannel Experience – Cisco FSI at BAI Retail Delivery 2013

Enthusiasm was at an all-time high at BAI Retail Delivery 2013 in Denver, CO last week as we continue to see major transformation in the banking industry.  Within the Cisco booth, we demonstrated a series of solutions that enable digital and physical channels to become more interactive and sales focused, while improving the customer’s banking experience. Attendees were excited to walk through various live customer business scenarios – all enabled by the same infrastructure – and available today.

BAI Cisco Booth 1

Cisco’s Omnichannel Booth Experience
The Cisco Financial Services team led the booth tours that took attendees through an end-to-end omnichannel experience. Participants were asked to play the role of an existing customer for the entire demonstration and were shown how Cisco can assist financial institutions in their desire to be more intimate and responsive to their clients’ needs. We demonstrated a seamless customer experience that can drive increased satisfaction and wallet share. Read More »

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