Banks and IP Telephony

In an increasingly competitive banking environment, customers desire nothing but the best. Banks must do everything within their capability to provide the best service possible. Since customer service can come in many forms, the banks have decided to focus on phone systems.

This is where the benefits of IP telephony come in with all the bells and whistles of internet-based communicative services. Financial institutions stand a better chance to improve their public communication with IP telephony than what they could have with circuit-based telephone network connections.
Banks and IP telephony – how they stand to benefit
Business happens fast when companies decide to move their communications to cloud systems. Financial service firms also reap the benefits of innovative cloud communication to improve their overall services and communication process.

Even though there are many ways in which banking can benefit from IP telephony, these are some of the most common ways this technology has affected banking:
1. No tolls and MAC charges
One of the common problems that many banks face even today pertains to adding, modifying, or removing an existing phone line (MAC) as the service provider has to be contacted in every case.  Phone companies charge based on each MAC and keep the bank waiting as they work according to their schedule.

This issue can be eliminated with IP telephony as the entire network can be setup in the cloud and scalable on-demand. There is no need to contact the service provider.  Nor wait for them to …