Financial Services: Mobility - Changing the Face of Financial Services

The financial services industry is reinventing itself, and consumers’ attitudes toward mobile technology are a big reason why. Since 2010, innovative and fast-moving FinTech companies have poured $50 billion into everything from mobile payments to insurance. These digital disrupters are tapping into the “liquid expectations” of customers who compare banks to the no-friction mobile services and products they receive from other sectors (i.e., Amazon, Uber etc.) – and find banks lacking.

Beyond the Basics

Vox Mobile is helping financial services companies keep up with disrupters by taking mobile way beyond the basics of mobile banking, bill pay, deposit and P2P payments.

Leading banking organizations have partnered with Vox Mobile to reduce the physical space of the traditional branch model – taking banking services to where the people are. They do this by arming a new mobile workforce with tablets in hand to serve customers in airports, grocery stores, office buildings, etc. With the ability for consumers to shop for loans and receive financial planning services online, Vox Mobile is also helping financial services organizations plan and manage IT architectures that must interact with anyone, anywhere via mobile B2C, B2B and BYOD connections – in a highly secure environment.

Vox Mobile is on top of exciting mobility trends helping innovation-minded financial services companies achieve impressive new ways to generate new sources of revenue and engage customers through a wide range of channels.

Insurance is a 24/7, mobile business. This industry leader’s mobile workforce relies on a wide variety of mobile devices for servicing customers, selling, adjusting, and conducting timely inspections. The company needed to ensure its mobile professionals are equipped at all times with the right tools and access to the right information delivered in a highly secure and reliable environment.

As a result of several acquisitions, this large financial institution was supporting three different EMM platforms. The IT staff was challenged staying current with EMM software updates and thus end user satisfaction suffered considerably.

There are many answers to offer, some that you’ve heard ad nauseam (“it’s cheaper”, “we’re the experts”, or “mobility is not what you’re best at doing”) and others you may not have considered (“separating yourself from other companies”, “having a mobility subject matter expert at your beck and call”, and “affords you the ability to implement new technology quickly”).

IT outsourcing goes through phases like fashion.  Some will swear by outsourcing, while others remain certain that insourcing is the only way to go, but the prevailing winds shift year by year. For most of IT services, of course, a learned, experienced professional knows that the answer to the outsourcing question tends to be “it depends.” The context of the current moment and the focus of the organization will change over time and will make one or the other more advisable.

Congratulations! You’ve made the impactful decision to incorporate self-service into your company’s support model. I previously touched on the pros and cons of self service in last month’s blog, now it’s time to walk through some top strategies to consider when rolling out your self-service program. I’ve group them into the below 4 categories.

Let us help you drive mobility success.

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