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Insights Blog for Business Telecoms and Data Solutions, IT Networks, and Security.

Why telecoms resilience matters for Financial Services

Posted by David Hughes on 27 Feb, 2018

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Today’s consumers are increasingly expectant of access to always-on technology and services, and there are few sectors where this is truer than in financial services.

Access to 24/7 banking, for example, is seen as a given. As a result, online banking outages result in significant brand damage and are unsettling for users. That same ‘always-on’ expectation applies to a financial services company’s customer service phone lines. Customers want to be able to speak to someone on the phone as and when they need to, whatever the time of day, day of the week or week of the year. The fact is: voice remains central to a seamless customer experience.

In this context, it’s clear to see why telecommunications outages are costly interruptions. They’re damaging both in terms of customer satisfaction and workforce effectiveness. So, how can a financial services company best avoid outages? What is the key to keeping its lines of communication open and its workforce in action? The answer is to plan a service around resilience.


Make downtime a thing of the past

A robust, business-grade voice service is vital to any organisation. For example, using a resilient SIP trunking service in place of traditional ISDN provides additional failover and more flexible configuration than other set-ups, giving financial firms just the peace of mind they need when it comes to keeping phone lines up and running.

But what is it that makes ‘resilient’ set-ups different to other SIP trunking options? It’s all to do with having dual SIP endpoints in both ‘active’ and ‘standby’ modes, which can be easily configured via one simple online portal. Resilient builds are specifically designed to cope with any situation and allow you to:

  • Make sure the phone lines in your financial services business are always on;
  • Keep customer services up and running in an emergency without incurring high call-forwarding costs
  • Balance call loadings during peak times, ensuring that users can always get through on the phone


What can resilience do for you?

Best in class customer service is the key to giving your financial services company a competitive edge and resilience is essential to enabling this. If you’ve ever experienced a telecoms outage, you’ll know that speed of response is key for your customers. A resilient SIP build does all the heavy lifting for you– and the even better news is that it’s actually a lower cost alternative to ISDN for inbound and outbound calls.

By making downtime a thing of the past, you’ll earn that much-needed edge over your competitors; you’ll drive new sales through top-rate customer satisfaction; you’ll secure new partner deals. At the end of it all, you’ll be more profitable – and all by taking one simple step towards making sure you can handle all the calls you receive effectively.


Download our Telefonix SIP Trunking guide to find out all you need to know about moving to SIP.


SIP Guide


Adapted from 'Why telecoms resilience matters for Financial Services' by Cem Ahmet, originally posted on the official website of Gamma.               

Topics: SIP Trunks

David Hughes

Written by David Hughes

With more than 16 year’s engineering experience in the communications industry, David has a passion for new technology. David’s expertise has provided him with a wealth of knowledge to deliver cutting-edge technology solutions to the highest standards, ensuring our customer service levels remain at the highest level. As Operations Director at Telefonix, David is responsible for managing Client Projects, Engineering, Customer Service and Vendor Relationships. He’s a keen sportsman mostly playing cricket and enjoys hacking his way around a golf course. David's a bit of a petrol head; he loves fast cars, Formula 1 and the annual trip to the Goodwood Festival of Speed.

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