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Meeting the Financial Services Collaboration Challenge

By Blog, Employee Engagement, Employee Engagement Blog, Workplace Collaboration

The financial services industry faces unique collaboration challenges, especially in supporting the needs of the hybrid, in-office, and remote workforce. Key among these challenges are:

Meeting various global regulatory requirements governing reporting and securing financial transactions
Protection of personally identifiable information (PII) including social security numbers, account numbers, credit scores, and location that allows for identification of individuals
Protection of enterprise information assets from exfiltration attacks via phishing, social engineering, or other attempts at remote access

At the same time, financial services organizations are, like most other companies, increasing their use of enhanced collaboration applications including team messaging and video conferencing. These technologies improve back-office information sharing and workflows and enables digital transformation of customer experiences. The end result is (ideally) increased customer satisfaction scores, improved upsell and better customer retention opportunities. Taken together, digital transformation enables market differentiation through superior customer service.

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Leveraging BYOC in the Hybrid Cloud

By Blog, Employee Engagement, Employee Engagement Blog, Workplace Collaboration

The rapid shift to work-from-home (WFH) over the last year has accelerated the move of unified communications to the cloud. Today, nearly half (47.3%) of the 476 companies benchmarked in Metrigy’s global Workplace Collaboration: 2021-22 research study have either fully or partially adopted Unified Communications-as-a-Service (UCaaS). Nearly a quarter of those still operating on-premises telephony platforms are either planning to shift to UCaaS, or are evaluating such a move.

As mid- to large-size organizations increasingly embrace UCaaS, providers are enabling them to do so while maintaining their existing PSTN connectivity session border controllers (SBCs) and SIP trunking services. This approach, known as “Bring Your Own Carrier” (BYOC) speeds migration to UCaaS by allowing companies to use current dialing plans and call policies. Beyond PSTN access, successfully deploying UCaaS requires ensuring high-quality, secure voice and video application performance, regardless of user location.

To meet this goal, those responsible for UC operations must leverage tools that provide performance visibility and security control. Today, about 41% of organizations have a proactive strategy for collaboration and communications security, comprised of components including firewalls, SBCs as well as active monitoring and response.

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