A small regional bank acquired 12 small financial institutions in order to create a nationwide presence. In so doing, the bank inherited a patchwork of mismatched communication networks—from older, expensive Centrex solutions to often obsolete PBX and key systems.
The bank planned to continue acquiring additional banks at a rapid rate. However, these communication networks posed a critical problem—they were a nightmare to manage, making it difficult for the bank to provide customers with quick, effective, and consistent service. As a result, bank executives recognized that they needed to implement an efficient, stable, cutting-edge technology solution as quickly as possible.
VoIP technology provided the required flexibility and enabled the bank to deliver large bank telephony features to even the smallest branch locations, while also reducing operating costs. The solution reduced staffing by three full-time equivalents (FTEs) and provided an integrated and intuitive interface.
In the highly competitive financial marketplace, success depends on reducing operational costs and implementing technologies that deliver more for less.
VoIP technology provided the bank with a management system that allows the multi-site network to be managed through a single interface with no single point of failure. Implementation of this technology provided high system availability, tight integration with Microsoft Outlook, a single enterprise-class voicemail system for even the smallest branch locations, follow-me call handling for bank executives who travel across regions, and least-cost routing to minimize long-distance expenses.
The solution ultimately allowed the bank to seamlessly integrate future acquisitions and growth and focus its resources on other areas of its technology plan.
