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Why telecoms resilience matters for Financial Services

Today’s consumers are increasingly expectant of access to always-on technology and services, and there are few sectors where this is truer than in financial services.

Access to 24/7 banking, for example, is seen as a given. As a result, online banking outages result in significant brand damage and are unsettling for users. That same ‘always-on’ expectation applies to a financial services company’s customer service phone lines. Customers want to be able to speak to someone on the phone as and when they need to, whatever the time of day, day of the week or week of the year. The fact is: voice remains central to a seamless customer experience.

In this context, it’s clear to see why telecommunications outages are costly interruptions. They’re damaging both in terms of customer satisfaction and workforce effectiveness. So, how can a financial services company best avoid outages? What is the key to keeping its lines of communication open and its workforce in action? The answer is to plan a service around resilience.Make downtime a thing of the past

A robust, business-grade voice service is vital to any organisation. For example, using a resilient SIP trunking service in place of traditional ISDN provides additional failover and more flexible configuration than other set-ups, giving financial firms just the peace of mind they need when it comes to keeping phone lines up and running.

But what is it that makes ‘resilient’ set-ups different to other SIP trunking options? It’s all to do with having dual SIP endpoints in both ‘active’ and ‘standby’ modes, which can be easily configured via one simple online portal. Resilient builds are specifically designed to cope with any situation and allow you to:

  • Make sure the phone lines in your financial services business are always on;
  • Keep customer services up and running in an emergency without incurring high call-forwarding costs
  • Balance call loadings during peak times, ensuring that users can always get through on the phone

What can resilience do for you?

Best in class customer service is the key to giving your financial services company a competitive edge and resilience is essential to enabling this. If you’ve ever experienced a telecoms outage, you’ll know that speed of response is key for your customers. A resilient SIP build does all the heavy lifting for you – and the even better news is that it’s actually a lower cost alternative to ISDN for inbound and outbound calls.

By making downtime a thing of the past, you’ll earn that much-needed edge over your competitors; you’ll drive new sales through top-rate customer satisfaction; you’ll secure new partner deals. At the end of it all, you’ll be more profitable – and all by taking one simple step towards making sure you can handle all the calls you receive effectively.

To find out more about SIP, its benefits and how to make the move from ISDN check out our eGuide – From the past to the future: How to make the move from ISDN to SIP

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