RingCentral for Financial Services

Cloud based voice, sms, video, and team messaging platform for financial services

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Automate account notices, alerts, and interactions

Financial institutions leveraging cloud tools for better client communication

Through the use of SMS, IVR (interactive voice response), and chatbots, financial institutions are able to automate more complex transactions, reduce account servicing costs, and increase trust with investors, policy holders and depositors. SMS text messaging can be utilized to confirm transactions, transfers, or trades. They can notify borrowers of minimum payments, and alert them to suspicious activity.

IVR can provide secure and verified account servicing options for balance inquiries, transfers, bill pay, card activation, exception reviews, and more.

With the help of the RingCentral API, all the above communication methods can be fed securely to your communications surveillance and compliance systems. To meet regulatory and audit needs, the API allows conversations and events to be securely recorded, logged, and retained.

Increase security and protect financial information

Take advantage of two-factor authorization and one-time passwords

With phishing scams and social engineering, hackers are learning new ways to trick employees and clients  into providing account numbers, usernames, passwords, and other identifying information—allowing them to quickly access their accounts and financial information.

Using two-factor authentication (2FA) and one-time passwords (OTP), you can help protect your customers' identity and information by requiring confirmation from their mobile device via SMS, or providing a short code sent to their mobile that they must provide when logging in. This helps ensure your customer is who they say they are and quickly alerts them to attempts by others to log in to their account.

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Goosehead Insurance increases customer support
RingCentral helps Goosehead Insurance scale their support team by 50%
Adding support staff to an antiquated PBX system was proving time consuming and frustrating. With RingCentral adding new support staff could be accomplished in minutes not days. Additionally, monitoring and mentoring the new staff also became much easier. Add to this the ease of integrating the calling system to workflow apps like Salesforce and you have a support system like no other.
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Keep your customers updated

High Volume SMS allows for mass communications with a 98% read rate

With our High Volume SMS solution you can easily send batch notifications or alerts to a high volume of clients.  This may include new research availability, market commentary links, transaction deadlines, blackout periods, special promotions, or links to required disclosures. SMS messaging is also appropriate in more immediate and urgent situations, such as technical outages, liquidity squeeze, and market downdrafts. With increasing volatility, having a reliable, cost effective alerting capability that reaches across your client base is a requirement. 

Through RingCentral, financial institutions are able to send mass volumes of SMS quickly, conveniently, and securely.

Provide omni-digital support enhanced with AI

Build and scale customer service chatbots across multiple digital properties quickly and easily

Chatbots can be created with RingCentral’s Engage Digital APIs to integrate with websites or other web-based locations to engage clients with general questions. Investment advisory firms are using chatbots to collect preferences and choices made by potential investors so the advisor’s recommendations are better informed. Also standard inquiries like business hours, new account types, current interest or exchange rates, can all be handled in this way. Additionally, if a question is posed that the chatbot has not been set up to manage, the bot can hand over the conversation to a real life agent to dig deeper.

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First Credit Services maintains high volume archive
First Credit Services maintains their call archive of over 50,000 calls a day with RingCentral’s call log API
First Credit Services used the RingCentral platform API for call recordings to archive and automatically download audio calls with daily total volumes of up to 4GB. The related call logs are also attached for future retrieval as needed. Looking forward they plan to further enhance their click-to-call requirements with the RingCentral cloud platform.
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Enhance internal communications with team messaging

Build in custom workflows, company alerts, and integrate the tools your team uses everyday

Within the financial firm itself, there are many requirements for coworkers to stay connected. No matter where the team may be in the world—from the branch down the street to headquarters or international locations—those who are working from home, traveling, or stuck because of inclement weather can still communicate as long as they have a good internet connection. RingCentral’s team messaging application can be used for this purpose. Messages and attachments among teams can be shared easily and securely. Video or audio meetings can be scheduled, launched, and recorded as needed. Private messages can also be generated between team members for extra confidentiality. Phone calls, voice messages, electronic faxes, and task assignments can all also be done on this very versatile application—all delivered through the cloud and completely secure.

Out of the box archiving and compliance integrations

Easily integrate with third party solutions for data archiving and compliance enforcement

With over 250 pre-built integrations including support for Smarsh, Theta Lake, and RedBox your financial institution is able to quickly and easily backup, archive, and implement compliance monitoring and alerts with today’s top solutions.  This not only allows for your data to be archived as required by law, but for your institution to quickly identify potential issues, as well as be alerted securely through automated AI reviews of client calls, texts, fax transmissions, and team messaging interactions. 

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Walker Crips Group complies with regulatory demands
Call recording archive and retrieval app built with RingCentrals API and integrated to CRM tool
Using the API platform Walker Crips programmers worked with RingCentral programmers to set up their cloud system so that it downloads call recordings to a storage array at the end of each day. They then built their own search facility, integrating into their own CRM, using the RingCentral call reference data so that staff can pull up past calls.