{"id":48118,"date":"2021-06-22T04:00:52","date_gmt":"2021-06-22T11:00:52","guid":{"rendered":"\/us\/en\/blog\/?p=48118"},"modified":"2025-07-01T06:16:05","modified_gmt":"2025-07-01T13:16:05","slug":"how-ringcentral-positions-financial-services-organizations-to-thrive-in-the-digital-era","status":"publish","type":"post","link":"\/us\/en\/blog\/how-ringcentral-positions-financial-services-organizations-to-thrive-in-the-digital-era\/","title":{"rendered":"How RingCentral positions financial services organizations to thrive in the digital era"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Heightened customer expectations for anytime, anywhere services, growing competition, and shifting workplace trends are putting new pressures on the financial services industry\u2014and RingCentral\u2019s latest <a href=\"https:\/\/netstorage.ringcentral.com\/brief\/csm_survey_findings_fin_services.pdf\">Customer Success Metrics Survey<\/a> shows that deploying a cloud communications and collaboration platform can be a powerful differentiator for meeting these new challenges.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\t\t\t<\/p>\n<div class=\"rc-bottom-cta rc-bottom-cta__landscape\" style=\"background-color:#FF8800;flex-direction: row-reverse;\">\n<div class=\"bottom-cta-img\">\n\t\t\t\t\t<img decoding=\"async\" width=\"700\" height=\"654\" src=\"\/us\/en\/blog\/wp-content\/uploads\/2021\/06\/customer-success-financial-services.png\" class=\"responsive-image\" alt=\"Dig into the ...\" \/>\t\t\t\t<\/div>\n<div class=\"bottom-cta-copy\">\n<div class=\"rc-bottom-cta__text\" style=\"color:ffffff;\">\n<h3\n\t\t\t\t\t\t\t\tclass=\"rc-bottom-cta__title headline-copy\"\n\t\t\t\t\t\t\t\tstyle=\"\"\n\t\t\t\t\t\t>Dig into the financial services-specific details of our new customer success survey.<\/h3>\n<\/p><\/div>\n<div class=\"rc-bottom-cta__btn-wrapper\" style=\"\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\t\tclass=\"btn btn-primary btn-lg rc-bottom-cta__link\"\n\t\t\t\t\t\t\t\ttitle=\" Get the stats\"\n\t\t\t\t\t\t\t\thref=\"https:\/\/netstorage.ringcentral.com\/brief\/csm_survey_findings_fin_services.pdf\"\n\t\t\t\t\t\t\t\tdata-dl-name=\" Get the stats\"\n\t\t\t\t\t\t\t\tdata-dl-element=\"button\"\n\t\t\t\t\t\t\t\tdata-dl-additional-info=\"bottom cta banner\"\n\t\t\t\t\t\t\t\tdata-no-auto-dl=\"true\"\n\t\t\t\t\t\t\t\tstyle=\"\"\n\t\t\t\t\t\t\t\tonmouseover=\"\"\n\t\t\t\t\t\t\t\tonmouseout=\"this.style.backgroundColor='';this.style.borderColor='';this.style.color='';\"\n\t\t\t\t\t\t> Get the stats<\/a>\n\t\t\t\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>\t<\/span><\/p>\n<h2><b>Delivering significant internal and customer-facing benefits<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">According to the results of our recent <\/span><a href=\"https:\/\/netstorage.ringcentral.com\/brief\/csm_survey_findings_fin_services.pdf\"><span style=\"font-weight: 400;\">survey<\/span><\/a><span style=\"font-weight: 400;\">, which included the opinions of executives and decision makers at financial services organizations in the U.S., the U.K., and Canada, RingCentral delivers significant internal and customer-facing benefits that position their organizations for success in this rapidly changing climate.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In recent years, as new online products and services have emerged from financial services organizations, a growing number of customers have come to expect flexible, personalized mobile offerings. The global healthcare crisis only exacerbated these growing pressures. For example, banks saw an\u00a0<\/span><a href=\"https:\/\/www2.deloitte.com\/content\/dam\/Deloitte\/global\/Documents\/Financial-Services\/gx-fsi-realizing-the-digital-promise-covid-19-catalyzes-and-accelerates-transformation.pdf\"><span style=\"font-weight: 400;\">all-time high for mobile logins and check deposits<\/span><\/a><span style=\"font-weight: 400;\"> along with spikes in call center interactions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Having recognized the convenience of digital services, these customer shifts are likely to be long-lasting. But at the same time, major shake-ups to workplace models mean the industry must overcome inherent challenges of remote and hybrid work in order to maintain productivity and customer satisfaction.<\/span><\/p>\n<h2><b>Real-life gains cited by <\/b><b>RingCentral financial services customers<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Our survey asked RingCentral financial services customers about the real-life gains they\u2019re experiencing from deploying our all-in-one messaging, video, and phone solution and revealed key benefits that address these pressures.<\/span><\/p>\n<p><img decoding=\"async\" class=\"aligncenter size-full wp-image-49708\" src=\"\/us\/en\/blog\/wp-content\/uploads\/2021\/10\/Financial-Services-930x700_2.png\" alt=\"RingCentral customer stats Financial Services\" width=\"930\" height=\"700\" \/><\/p>\n<h3><b>82% increase in employee mobility<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">From underwriters and analysts to customer support representatives working in a call center, remote employees need full access to all of the tools, customer information, and other resources that they would have on site. RingCentral enables employees\u2014in any type of role\u2014to do their jobs from anywhere, with an 82% increase in employee mobility.<\/span><\/p>\n<h3>45% increase in faster integration<\/h3>\n<p>It&#8217;s pretty rare to do all your business in one app today, and toggling between different platforms can be a real time-waster. That&#8217;s why integrations are so important; they let you bring your favorite apps together to streamline processes. For example: <a href=\"https:\/\/www.ringcentral.com\/apps\/ringcentral-salesforce\">RingCentral integrates with Salesforce<\/a>, among other popular CRMs, for easier tracking of customer journeys.<\/p>\n<p>RingCentral customers found that integrating apps was 45% faster than previous solutions. That&#8217;s real time, and money, saved.<\/p>\n<h3><b>38% increase in employee satisfaction<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">If not carefully considered, remote and hybrid work can result in unintentional barriers to productivity, including departmental silos and the need for multiple apps to collaborate and share information. RingCentral eliminates many of these pain points and promotes more effective work, delivering an average 24% increase to employee productivity.<\/span><\/p>\n<h3><b>30% overall ROI<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Replacing legacy infrastructure and providing the tools financial services organizations need to serve customers and employees can be costly\u2014but not necessarily so. Shifting to the cloud can provide significant cost savings, including easier, faster configuration, deployment, and management, and reduced hardware spend, all while enabling more productive work. Together these savings and gains add up to an average 31% return on investment.<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<h3><b>30% increase in customer satisfaction<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Customers expect seamless, personalized, and fast service across all channels, and customer service has become a key differentiator in the fight to win and retain business. There\u2019s a direct line between the capabilities RingCentral can provide to financial services organizations and their ability to meet these growing demands, resulting in a 30% boost in customer satisfaction among financial services organizations that use our solution.<\/span><\/p>\n<h2><b>Supporting financial services organizations in the digital era<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">To demonstrate the power of RingCentral in supporting financial services organizations in the digital era, there\u2019s no better example than First Bank, a multibillion-dollar institution that began as a single branch in 1906. In order to serve its more than 100 branch locations, as well as 1000+ employees and more than a dozen call centers, the bank needed to migrate its legacy communications systems from on-premises PBX to the cloud.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Just midway through a two-phase rollout, First Bank was already seeing significant gains. \u201cWe\u2019ve been able to replace our PBX and the six or seven servers we were maintaining to run our previous call center infrastructure with a lightweight, cloud-based system. Even factoring in the cost of RingCentral\u2019s desktop <a href=\"https:\/\/www.ringcentral.com\/what-is-a-voip-phone.html\">VoIP phones<\/a> that we\u2019ve set up, the RingCentral rollout is already saving us 30% on our overall phone system costs,\u201d said Bala Nibhanupudi, First Bank\u2019s Chief Information Officer.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cAlso, as soon as we replaced our employees\u2019 legacy phones with RingCentral, we began to see value immediately. Our team was able to do a lot more with RingCentral\u2019s softphone capability than they\u2019d ever been able to do with our legacy phones,\u201d Nibhanupudi added.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\t\t\t<\/p>\n<div class=\"rc-bottom-cta rc-bottom-cta__landscape\" style=\"background-color:#FF8800;flex-direction: row-reverse;\">\n<div class=\"bottom-cta-img\">\n\t\t\t\t\t<img decoding=\"async\" width=\"930\" height=\"700\" src=\"\/us\/en\/blog\/wp-content\/uploads\/2021\/10\/customer-success-survey-financial-services-new.png\" class=\"responsive-image\" alt=\"This is only ...\" \/>\t\t\t\t<\/div>\n<div class=\"bottom-cta-copy\">\n<div class=\"rc-bottom-cta__text\" style=\"color:ffffff;\">\n<h3\n\t\t\t\t\t\t\t\tclass=\"rc-bottom-cta__title headline-copy\"\n\t\t\t\t\t\t\t\tstyle=\"\"\n\t\t\t\t\t\t>This is only part of the story. Get all the key details here.<\/h3>\n<\/p><\/div>\n<div class=\"rc-bottom-cta__btn-wrapper\" style=\"\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\t\tclass=\"btn btn-primary btn-lg rc-bottom-cta__link\"\n\t\t\t\t\t\t\t\ttitle=\" Get the stats\"\n\t\t\t\t\t\t\t\thref=\"https:\/\/www.ringcentral.com\/customer_success_metrics_survey.html\"\n\t\t\t\t\t\t\t\tdata-dl-name=\" Get the stats\"\n\t\t\t\t\t\t\t\tdata-dl-element=\"button\"\n\t\t\t\t\t\t\t\tdata-dl-additional-info=\"bottom cta banner\"\n\t\t\t\t\t\t\t\tdata-no-auto-dl=\"true\"\n\t\t\t\t\t\t\t\tstyle=\"\"\n\t\t\t\t\t\t\t\tonmouseover=\"\"\n\t\t\t\t\t\t\t\tonmouseout=\"this.style.backgroundColor='';this.style.borderColor='';this.style.color='';\"\n\t\t\t\t\t\t> Get the stats<\/a>\n\t\t\t\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>\t<\/span><\/p>\n<h2><b>A closer look at the RingCentral advantage<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Throughout our <a href=\"https:\/\/www.ringcentral.com\/customer_success_metrics_survey.html\">#CustomerSuccess blog series<\/a>, we take a closer look at the RingCentral advantage as indicated by overall survey results and explore some of the specific improvements seen across key business segments and within industry vertical markets.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To learn more about the value RingCentral delivers for financial services organizations across 18 key metrics, download our <\/span><a href=\"https:\/\/netstorage.ringcentral.com\/brief\/csm_survey_findings_fin_services.pdf\"><span style=\"font-weight: 400;\">Customer Success Metrics Survey datasheet<\/span><\/a><span style=\"font-weight: 400;\"> now.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Heightened customer expectations for anytime, anywhere services, growing competition, and shifting workplace trends are putting new pressures on the financial services industry\u2014and RingCentral\u2019s latest Customer Success Metrics Survey shows that deploying a cloud communications and collaboration platform can be a powerful differentiator for meeting these new challenges. Delivering significant internal and customer-facing benefits According to &#8230;<\/p>\n","protected":false},"author":29,"featured_media":48120,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18836],"tags":[37728,3865,4888],"class_list":["post-48118","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-services","tag-customer-success-metrics","tag-financial-services","tag-ringcentral-customer-success"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.3 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>How RingCentral positions financial services organizations to thrive in the digital era | RingCentral Blog<\/title>\n<meta name=\"description\" content=\"RingCentral\u2019s latest Customer Success Metrics Survey shows that deploying a cloud communications and 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