WSTA Ticker - May/June 2008 - (Page 14) Continued from page 12 meaningful way to reach and serve customers, ultimately increasing their loyalty. Gartner forecasts that by 2012, 80 percent of leading organizations will have adopted some form of CEBP for competitive improvement. typical NAO exception handling process is a relatively manual effort requiring the application to be pulled out of the workflow and often requiring communication and collaboration with the account manager or customer to get the information needed to complete the process. The basis for creating a tight linkage between business CEBP solutions can accelerate the NAO process by applications and communications capabilities resides identifying missing or high-risk client information in two emerging technologies: Web Services in a early in the process and triggering automated, Service Oriented Architecture (SOA) and Session orchestrated communications to alert the appropriate Initiation Protocol (SIP). Web Services in an SOA manager(s) that action needs to be taken. For example, construct enables better integration of business when it’s detected that a new account application is application with communications services, faster missing the client’s employer identification number deployment of new capabilities, and increased (EIN), the relationship manager is flexibility for application and automatically notified via phone business process modification. call or email and prompted to SIP is a protocol that allows provide the correct information or different types of for improving processes and to initiate a call to the client. If communications to integrate reached by phone, the CEBP easily with each other and with services with unified application can initiate a call with Web service environments. For communications and CEBP the client based on their contact financial services companies, this information, or if reached by emeans the introduction of are only touching the tip mail the relationship manager can powerful multi-modal use a softphone application on the communications, embedded as a of the iceberg. desktop to initiate the call by service within their business clicking on the phone number applications. embedded in the notification email. In just a few minutes, the relationship manager has received the The End Result: Improved Client Services missing information from the client and is able to So how exactly does CEBP research and development move the process back on track. As part of CEBP’s apply in a practical manner for a financial services closed-loop process, the relationship manager then business? receives notification when the account is approved for business. For most financial services firms, customer The opportunities relationships begin when an account is opened. Typically, the new account opening (NAO) process is very information intensive: a large amount of data needs to be collected and validated to comply with anti-money laundering requirements; a customer profile needs to be built based upon employment and credit history; and data for funding the account needs to be 100 percent accurate. If the process goes well and quickly, the customer is happy and the firm can put funds to work immediately. However, if information is missing or incorrect, opening the new account is delayed and can lead to multiple problems, including possible regulatory fines or customers taking their business elsewhere. The The opportunities for improving processes and services with unified communications and CEBP are only touching the tip of the iceberg. The promise of unified communications and extended solutions like CEBP lies not only in driving systems and support costs down: integrating intelligent communications into the very fabric of the business will position firms for competitive advantage and growth. Leonard Selvaggio is a Financial Services Industry Senior Marketing Manager at Avaya (www.avaya.com). He can be reached at lselvaggio@avaya.com. For additional information, please contact Marianne Beyer, 908-953-2709 or via email at mbeyer@avaya.com. WSTA® Ticker - May/June 2008 14 http://www.avaya.com
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