The pandemic has brought profound changes to the world of work. As of March 2020, 88 per cent of organizations encouraged their employees to work from home, according to Gartner. And it spurred the ubiquitous use of remote conferencing.
Even though some of these organizations have decided to allow employees to return to the office, roughly 30 per cent of employees will continue to work remotely multiple days of the week. And it’s expected that 36.2 million Americans will work remotely by 2025.
This change has led to an 87 per cent increase in video conferencing compared to before the pandemic. Here are a few ways that the banking and finance industry can benefit from these changes and ensure the best possible customer experience.
Improved security for remote workers
In the past, banking and finance professionals found it challenging to work remotely because of potential security issues. In addition, customers and prospects don’t always feel comfortable sharing personal information when security can’t be verified.
Now, 61 per cent of CFOs at financial services companies plan to offer permanent telecommuting jobs. With the right technology, both finance professionals and customers can feel more secure about transmitting private information, even in a remote setting.
Rallying company culture
Modern workforces make mobility and flexibility a priority. They also favor modern communications like remote conferencing. Regardless of your reason for having remote employees, remote conferencing can help to create a unique human connection and help improve the culture of your organization.
Expanded access to customers
Ninety per cent of people in a recent survey said it’s easier to get their point across when using video. It can also be helpful when trying to expand your access and get your point across to new customers.
Having the opportunity to work remotely allows you to get new customers outside of your local area. It’s easy to communicate remotely regardless of where the person is in the world, enabling you to expand into less competitive territories to improve revenue.
Video conferencing improves productivity by 50 per cent and lets employees and customers be more flexible with their time. They no longer have to commute to a specific location to meet. This flexibility means it’s easier to find a mutual time when everyone can chat. Having this level of flexibility can make it a more positive experience for both employees and customers.
Added stability and resilience
Regardless of what the future may bring, whether we work from home or in an office, remote conferencing software can give the financial industry added stability and resilience. This stability allows financial institutions to continue running and talking with customers even if they do it from their homes.
How to make the most of the technology:
1. Set up the right equipment
The good news is that modern-day online meetings don’t require much technical setup. Mobile devices frequently come with cameras that allow web conferencing software to access them.
There may be issues if people are using different operating systems, but you can frequently iron out these problems ahead of time. The best tip is to test your remote conferencing software before you need it. That way, if you need to call customer service or research an issue, you can make sure those resources are available.
2. Set yourself up for engagement
A common problem with phone meetings is that it can be challenging for both employees and people working from home to stay focused and engaged. Using video in your conferences can be more engaging than just an audio call. Make sure you have a quiet place to work during the meeting, and devote your full attention to clients. Don’t hesitate to share presentations, graphs, charts and other visual elements with clients as well.
When talking to remote participants, it’s essential to see and hear the speakers in the room. Great audio is critical. Video users often overlook audio until the meeting begins. This lack of consideration can lead to issues where people have to ask the presenter to repeat what they said.
It’s important to have a high-quality microphone so that remote participants can hear you and avoid these audio troubles. This quality is true even if you work from home or in a temporary meeting space.
The new customer experience
Customer experience has become more than what people experience when they visit your website or meet in a bank face-to-face. These days it’s about creating a unique customer experience.
You have to engage that customer in their location. You also have to use their preferred communication channel, which may change based upon their current needs. To meet those needs, you must have an end-to-end service that helps to create lifelong relationships with those customers.
Using Allstream and WebEx allows for simple collaboration, making it quick and easy to host web and videoconferences. It makes invitations easy so you can invite anyone to join a web conference. And of course, for the security needs of financial institutions, it offers end-to-end encryption to ensure that your conversations are secure.
Learn more about how Allstream and WebEx can help you communicate.