Blog article
See all stories »

Five Reasons to Move Your Customer Communication to the Cloud Today

Faster. Easier. Cost-effective. Impactful.  These are the goals of every financial institution as it manages its burgeoning customer communication requirements. Instead, firms are mired in communication complexity, whether presenting customers with a new offer, delivering monthly statements, or serving up time-sensitive, event-driven information. It doesn’t have to be this way when financial institutions look to the cloud.  There are five ways that moving to the cloud can help firms transform and elevate their customer communication programs.

Communicate more effectively

 In the digital era, customers increasingly expect near real-time communication delivered via channels where they spend their day. This capability also presents a valuable opportunity to boost growth by establishing communication earlier in a customer’s decision process. Legacy communication platforms with limited flexibility and personalization capabilities present barriers.

Having a single, cloud-based solution for communication increases customer engagement.  Featuring seamless integration using open standards, simple data population, streamlined rule-driven assembly, and effective data management. Financial services organizations can quickly achieve full personalization for all communications. Content can be incorporated that is relevant to each customer and leveraging existing communications to promote relevant additional products and services.

Achieve ultimate flexibility

 Firms are looking for faster, easier, and lower risk paths to modernization. The cloud clears the way. Organizations can choose their starting point and are not required to shift all assets and projects at once. Firms also avoid significant upfront investment—and can see results before committing to more extensive, higher-stakes projects or determining which projects should remain on-premises.

Reduce compliance risk

 The financial services industry is responsible for adhering to a growing number of regulatory requirements. The cost of non-compliance can be steep—encompassing fines, legal fees, and lost credibility. Legacy communication platforms lack the agility to respond to ever-changing compliance requirements and limit content reuse and control.

A data-driven, automated approach, ensures and streamlines compliance. It’s features rich with online business-focused interface for ease of use, as well as a centralized library of content for rapid response. It also enables version control, design and content segregation, and decentralized template management.

Cut costs today

 Financial services institutions are focused on cost reduction like never before—and cloud platforms help facilitate innovation and future growth while keeping costs in check.

Rapid provisioning, integrated services, and ready-to-use accelerators empower a direct cost-to-output ratio with no infrastructure costs or maintenance, enabling organizations to embrace an OPEX versus CAPEX model. Financial institutions can scale up and down as needed—avoiding any over-investment in infrastructure and only purchasing what is required. The service dynamically scales to meet the demands of predictable and unpredictable communication spikes—whether monthly statement distribution or event-driven correspondence.

Automate modernization

 Traditional systems were not built to meet today’s ever-changing customer requirements and regulatory environment. The cloud supports “forever” modernization without risk and business disruption creating a painless, continuous upgrade path.

Recent events have illustrated the importance of business agility. This need for flexibility permeates the enterprise, including the communication function. The cloud offers a faster and smarter path forward to more effective, agile, and cost-efficient customer communication. 

 

 

1158

Comments: (0)

Amber Marquardt

Amber Marquardt

Head of Global Retail Banking - Solution Marketing

Oracle

Member since

09 Nov

Location

Redwood City

Blog posts

1

This post is from a series of posts in the group:

Banking Strategy, Digital and Transformation

Latest thinking in respect to Banking Strategy, Digital and Transformation. Harnessing our collective wisdom to make banking better. Ambrish Parmar


See all