• Small business
  • Enterprise
Sales: (877) 768-4369
Join a meeting Support
RingCentral App Access your calls, messages, and meetings.
RingCentral Events Access your account and plan your next event.
Admin Portal Access your RingCentral App account settings.
Billing Portal Access and manage your billing information
  • RingEX AI cloud communications AI-powered
    • Business Phone System Reliable, powerful AI cloud calling that's easy to deploy and use across all devices
    • Personal AI Assistant New AI takes call notes, personalizes insights, and crafts messages
    • Enhanced Business SMS Business texting optimized for deliverability
    • Messaging Team collaboration, chat, and file-sharing
    • Video Meetings AI meetings with whiteboard and recording
    • Cloud Faxing Easy, secure digital faxing from any device
    RingCX AI omnichannel contact center AI-powered
    • Omnichannel Connect with customers across voice and 20+ digital touchpoints
    • Workforce Engagement Management New AI Quality Management, Conversation Analytics, and Workforce Management
    • Outbound Sell, collect, and proactively support
    • RingCentral Contact Center Contact center for advanced, large-scale enterprise deployments.
    Events & Video Virtual, hybrid and in-person event solution AI-powered
    • Events All-in-one, AI-powered event management for virtual, hybrid, and in-person events
    • Webinars Large meeting and webinars made effortless with AI
    • Video Meetings AI meetings with whiteboard and recording
    • Rooms Video enabled conference rooms and meetings spaces with one-click join
    Sales Intelligence AI for sales insights and conversation intelligence AI-powered
    • RingSense for Sales AI sales and conversation intelligence for boosting team collaboration and strategy
    Open Platform Powerful pre-built app integrations, APIs, and SDKs
    • RingCentral for Microsoft Teams Advanced, reliable calling, SMS, and fax in Teams
    • APIs and SDKs Customize or extend RingCentral with powerful APIs
    • App Gallery 300+ pre-built integrations with leading business apps
  • BY AUDIENCE
    • Enterprise
    • Small business
    • Startups
    • Frontline workers
    • RingCentral Ventures
    BY INDUSTRY
    • Financial services
    • Healthcare
    • Education
    • Government
    • Retail
    • Professional services
    • High tech
    • Manufacturing
    • Construction & real estate
    • Nonprofit
    • Automotive
    • Consumer services
    RingCentral for Microsoft Teams
    Bring world-class customer experiences and RingCentral’s best-of-breed telephony into Microsoft Teams. Learn More
  • Plans and Pricing
  • Partners
    • Global service providers Customized and integrated solutions for service providers
    • Affiliates program
    • Channel partners
    • Events channel partners
    • Connectivty partners
    • Consultant relations program
    • Hardware partners
    • ISV partners
    • Innovation partners
    PARTNER PORTAL

    Already a partner?

    Log in

    Interested in partnering with us? Tell us a little about your business here.

  • LEARN
    • Blog
    • Customer stories
    • Newsroom
    • What's new
    • View all resources
    CONNECT
    • Webinars
    • Events
    • Careers
    • Support
    Download App
    Get messaging, video, and phone in one single app
  • Company
View demo
RingCentral Pulse
  • Explore Trending
    • AI & Innovation
    • Customer & employee experience
    • Communication & collaboration
    • Business & leadership
    • Company news & culture
    Explore all

    Global strategic partnerships

    See how our partnerships are driving innovation and transforming communication for businesses everywhere.
    Explore now
  • Explore Roles
    • Sales
    • Service & support
    • Marketing
    • Events
    • IT
    Explore all

    The AI communications hub

    Welcome to RingCentral’s AI hub, your destination for cutting-edge insights and
real-world applications of artificial intelligence in business communications.
    Learn more
  • Explore Industries
    • Education
    • Financial services
    • Government
    • Healthcare
    • Retail
    Explore all
    AI Real Talk

    A new webinars series
from RingCentral

    Hear from experts on the latest AI strategies to enhance business
communication, improve productivity, and elevate customer experiences.
    Watch now
  • Guiding principles for the modern enterprise Guiding principles for the modern enterprise 16 posts
    Mastering sales and marketing Mastering sales and marketing 12 posts
    Navigating UCaas in the AI Era Navigating UCaas in the AI Era 16 posts
    Optimizing call and contact centers Optimizing call and contact centers 15 posts
    Small Business Growth Tactics Small Business Growth Tactics 23 posts
    Access a range of ebooks, whitepapers, infographics, and more to stay informed and ahead in the world of AI-powered communications.
    Explore all collections
  • Explore Media
    • Guides
    • Videos
    • Webinars
    • Resource center
    • AI communications hub

    Events guide

    Discover everything you need to know about hosting unforgettable events — hybrid, virtual, or in-person.
    Read now

Search RingCentral Pulse

  • Trending
    • AI & Innovation
    • Customer & employee experience
    • Communication & collaboration
    • Business & leadership
    • Company news & culture
  • Roles
    • Sales
    • Service & support
    • Marketing
    • Events
    • IT
  • Industries
    • Education
    • Financial services
    • Government
    • Healthcare
    • Retail
  • Collections
    • Guiding principles for the modern enterprise
    • Navigating UCaas in the AI Era
    • Small Business Growth Tactics
    • Mastering sales and marketing
    • Optimizing call and contact centers
  • Media
    • Guides
    • Videos
    • Webinars
    • Resource center
    • AI communications hub
Matt Lehman
Table of contents:
4 min read
  1. 01 1. Fintech partnerships for expanded services
  2. 02 2. Increased digital engagement
  3. 03 3. Data-driven hyperpersonalization
  4. 04 4. Enhanced security features
  5. 05 5. Changing employee skillsets
Financial services
URL copied

The latest from RingCentral

Stay ahead with insights from the leader in trusted AI communications. Subscribe for the latest blogs, updates, and exclusive content.
Blog Financial services 5 predictions for financial services in 2022

5 predictions for financial services in 2022

RingCentral for Financial Services
Matt Lehman

Highlights:

  • ​The financial services sector is accelerating the adoption of technology for digital engagement in response to customer and market demands.
  • The rise of fintech plays a significant role in current financial services trends.
  • Banks concerned with providing a better customer experience are using digital technologies to differentiate themselves from competitors.​​​

👀  Did you know that cloud adoption is growing within the financial services sector? Grab our eBook to get the whole story.

👀   👀   Get this free eBook to learn more about the future of cloud communications and collaboration tools in financial services.

Enjoy!


The financial services sector continues to innovate and participate in the digital technology race. Customers expect high-level personalization in a fast-paced digital landscape. The workforce is also changing, as are the factors that contribute to employee success.

Predictions for the financial services sector in 2022

The following is an in-depth look at five critical predictions for the financial services sector in 2022 and their implications for your financial services organization.

Stay informed with RingCentral

Subscribe to our emails for the latest blogs, events, and exclusive content on AI-powered communication solutions. Stay ahead with insights and tips from the leader in trusted AI communications.

Privacy Notice

Thank you for your interest in RingCentral.

1. Fintech partnerships for expanded services

The evolution of technology has fueled a number of third-party or ancillary services in the financial sector. Payment processors have become a popular means to quickly send money to friends and family or to pay small-business operators. Some exist within the structure of a bank, enabling users to transfer money to other people instantly. Virtual wallets are another popular support service.

Banks are increasingly turning to fintech to provide the additional services needed to attract and retain customers and these services will continue to expand into 2022. Many consumers prefer the convenience of an all-in-one banking solution. Providers that integrate these in-demand fintech features have an advantage over those that do not.

RingCentral for Financial Services

2. Increased digital engagement

More virtual banks have emerged over the last few years, and the global pandemic has led more customers to explore these no-contact banking opportunities. Whether you operate a community or regional bank, a global bank, or virtual platform, customers want digital access.

Deloitte noted that even with increased digital engagement, consumers still want bank branches available for high-touch interactions. As 2022 progresses, banks will need to offer a balanced approach that incorporates both digital and physical engagement.

RingCentral for Financial Services

Customers also have greater expectations for access to multiple, integrated communications platforms for support. Messaging, self-service (AI), mobile self-service, web chat, social media, website, and email are among the most in-demand digital support channels.

The percentage of uses for each channel is changing as well. Here’s a look at the predicted change in usage by channel, courtesy of The Financial Brand.

RingCentral for Financial Services

3. Data-driven hyperpersonalization

Research from Deloitte revealed that personalization tops the charts for helping banks retain customers at risk of attrition. Hyperpersonalization is now expected of financial institutions trying to remain competitive.

RingCentral for Financial Services

According to Deloitte, hyperpersonalization is defined as “using real-time data to generate insights by using behavioral science and data science to deliver services, products, and pricing that are context-specific and relevant to customers’ manifest and latent needs (i.e. those needs which, due to a lack of information or availability of a product or service, cannot be satisfied).”

Data and analytics enable financial institutions to deliver the type of personalized customer experience necessary to attract and retain customers in 2022. New fintech providers leverage proprietary data assets to give customers features and options they often cannot get elsewhere.

To compete, traditional banks will need to personalize their platforms and offerings to each customer in a way that is automated and efficient. User and behavioral data helps banks learn about the banking features that matter most to customers. Targeted access and offers prevent cluttered communication and account dashboards.

Users are more likely to pay attention to a bank’s communication and develop trust if the bank’s recommendations fit their particular interests.

4. Enhanced security features

The trade-off for more advanced technology and digital engagement is increased exposure to hackers and thieves. To counter this challenge, financial service providers need security features that keep up with the rest of their technology.

Identity verification will continue to evolve as a critical security concern in 2022. Financial services organizations need verification methods that are efficient and user-friendly, while protecting against fraud and theft. Biometrics, such as voice recognition and facial recognition, are becoming commonplace. When customers call, voice-recognition software is used by some providers to verify ahead of data-sharing. Mobile users can allow the use of face recognition for easier and faster logins on a device.

Domestic and international regulations have also beefed up requirements for banks to verify users and to detect possible instances of fraud. Customers are asked to submit bank statements, identification photos, and other documentation to confirm their identity and right to use external accounts. Providers need a safe and secure portal through which these types of documents are uploaded, as well as a system for efficient review.

Third-party partners and service providers must also deliver safe and secure connections. Banking customers need confidence in accessing any feature or tool related to their experience with their financial service providers.

RingCentral for Financial Services
UP NEXT: 8 reasons to modernize your financial services contact center

Ring Central Logo

Read the blog Ring Central Logo

5. Changing employee skillsets

The workforce became much more mobile during the pandemic. Banks had to adapt by implementing greater technological mobility. Remote workers create cost advantages for companies, and a lot of financial services providers will continue to operate with a more mobile workforce in 2022 and beyond. A recent Gartner survey showed 74 percent of financial officers plan to keep at least 5 percent of their transitioned workers in remote roles. Twenty-five percent plan to keep at least 20 percent of their teams in new permanent remote positions.

In addition to adjustments to their technology infrastructure and access, financial services organizations need employees that can function effectively in the new workplace. This means more consideration of multi-platform communication skills, technical capabilities, and agility. The ability to attract a larger talent pool is a key benefit of offering remote-work options.

RingCentral for Financial Services
Source: Gartner

Stay on trend with RingCentral

These are some of the most critical trends and developments likely to influence the financial services sector in 2022. Given the pace at which competitors emerge and technology evolves, financial services organizations must adapt to changing marketplace demands or get left behind.

Unified communications for a mobile financial services contact center is central to meeting the digital demands of the marketplace. RingCentral provides a unified communications platform and contact center solutions for the financial services sector. See how it works today.

Updated Mar 30, 2022

Work together from anywhere with messaging, video conferencing, and phone calls—all in a single platform.
Learn more

Up Next

Remote staff employees can easily switch from instant messaging conversations to video chats using RingCentral unified communications
Financial services

3 challenges for banks in the new COVID-19 workplace

The CFTC’s notice to JPMorgan has just made the realm of real-time communications surveillance a billion-dollar topic for Board Rooms
Financial services

A billion-dollar compliance alarm for the financial services industry: regulated ...

Wondering how to define billable hours? RingCentral’s guide to billable hours explains everything you need to know.
Business & leadership

What are billable hours? Time-tracking guide and tips

Welcome to a new era of AI at work

See pricingView demo
  • Products
    • RingCentral MVP™
    • Message
    • Video
    • Phone
    • Fax
    • SMS
    • RingCentral Webinar™
    • Customer experience
    • Professional services
    • Features
    • Phones and headsets
  • Partners
    • Global service providers
    • Channel partners
    • ISV partners
    • Hardware partners
    • Connectivity partners
    • Affiliate partners
    • Strategic alliances
  • OPEN ECOSYSTEM
    • Developer platform
    • APIs
    • Integrated apps
    • App gallery
    • Developer support
    • Developer community
    • Games and rewards
  • Resources
    • What’s new
    • Resource center
    • Blog
    • Customer stories
    • Newsroom
    • Product demos
    • Product releases
    • Product Accessibility
    • Events
  • About Us
    • Our company
    • Leadership
    • Awards
    • Investor relations
    • Ventures
    • Trust Center
    • Corporate Responsibility
    • Diversity and inclusion
  • QUICK LINKS
    • App Download
    • Join a meeting
    • RingCentral App Login
    • Admin Portal Login
    • Careers
    • Support
    • Contact Sales
How can we help? Contact us
  • Legal
  • Privacy
  • Cookie Notice
  • Site Map
  • Accessibility
  • Contact Us
  • Cookie Preferences
  • Do not sell or share my personal data
© 2025 RingCentral, Inc. All rights reserved.
image - The trusted leader in global communications
The trusted leader in global communications
Explore
Trending
Explore Trending
  • AI & Innovation
  • Customer & employee experience
  • Communication & collaboration
  • Business & leadership
  • Company news & culture
Explore all

Global strategic partnerships

See how our partnerships are driving innovation and transforming communication for businesses everywhere.
Explore now
Roles
Explore Roles
  • Sales
  • Service & support
  • Marketing
  • Events
  • IT
Explore all

The AI communications hub

Welcome to RingCentral’s AI hub, your destination for cutting-edge insights and
real-world applications of artificial intelligence in business communications.
Learn more
Collections
Explore Collections
Guiding principles for the modern enterprise Guiding principles for the modern enterprise 16 posts Mastering sales and marketing Mastering sales and marketing 12 posts Navigating UCaas in the AI Era Navigating UCaas in the AI Era 16 posts Optimizing call and contact centers Optimizing call and contact centers 15 posts Small Business Growth Tactics Small Business Growth Tactics 23 posts
Industries
Explore Industries
  • Education
  • Financial services
  • Government
  • Healthcare
  • Retail
Explore all
AI Real Talk

A new webinars series
from RingCentral

Hear from experts on the latest AI strategies to enhance business
communication, improve productivity, and elevate customer experiences.
Watch now
Media
Explore Media
  • Guides
  • Videos
  • Webinars
  • Resource center
  • AI communications hub

Events guide

Discover everything you need to know about hosting unforgettable events — hybrid, virtual, or in-person.
Read now