How financial institutions can benefit from eXo Platform
It is very important for organisations across various industries to adapt to the growing expectations of their customers and their employees. These expectations have grown significantly in recent years, with technology now affecting every aspect of everyday life. Today there seems to be an application for virtually anything, from retail and customer service to banking and healthcare.
Technology has progressively made its way into the workplace, with digital workplace solutions being among the more recent and popular solutions for businesses. Their capacity to improve communication, facilitate collaboration and streamline business processes has made them the solution of choice for businesses, regardless of the industry in which they operate.
In previous blog posts and on our website, we discussed how eXo Platform can help businesses in various industries.
In this blog post we will show how eXo Platform can be used by financial institutions to tackle the challenges they are facing.
- Facilitate communication and collaboration
Thanks to its rich set of collaborative and social features, eXo Platform can help financial institutions to improve communication and collaboration across departments and subsidiaries. These features include: the following.
- Intranet portal
Employees can keep up to date with the latest company news, announcements and policies via the activity stream and dedicated communication channels. eXo Platform also enables users to interact with various pieces of content (files, videos, images, etc…) via likes, comments, and shares.
In this way, financial institutions can guarantee high levels of engagement and compliance with company policies.
- Collaborative spaces
eXo Platform enables users to create dedicated personal spaces for communities, teams, departments, projects, etc. Each space has a set of built-in applications (activity stream, wiki, tasks, calendar, and documents…), visibility and registration settings.
Collaborative spaces are ideal for teams working together on projects and deals. Members of a specific space can share documents in its library, communicate using the group chat, and keep track of tasks with the integrated task management tool.
- Knowledge sharing
Access to information, data loss, and the time spent by employees locating information are among the most recurrent challenges facing the financial industry.
eXo Platform’s integrated Knowledge Management System acts as a centralised location where employees can locate, access, and share knowledge. This eventually leads to increased productivity as employees spend less time finding the information they need. It also enables teams to build a rich knowledge base for problem solving, decision making, and onboarding.
- Customer portal
With the advancements in technology and the widespread use of mobile devices and their various applications, tech-savvy customers now expect to access their financial data with the click of a button.
Thanks to its advanced content management capabilities, eXo Platform enables banks, insurance companies, and other financial institutions to build customer portals tailored to their needs. Customers can access their financial data directly from the website and perform routine operations by themselves. These include checking their account status, updating personal data, contacting an advisor, and making savings deposits, withdrawals, and transfers.
- Security and access permissions
Security is a major concern in the finance industry, as it handles highly sensitive data. I, it is crucial for financial institutions to implement secure solutions that comply with industry standards and regulations.
eXo Platform is based on an open source code and is the solution of choice for organisations with high security requirements. IT teams can access the source code for security audits and so respond to security vulnerabilities in a quick and timely manner.
Furthermore, digital workplace and space administrators have control over permissions. Depending on the permissions, users can gain Access and/or Edit permissions to sites, pages, and various components of the sites. In this way, administrators can ensure that specific tools and information are accessible by the right teams.
Many tools and applications are used within the financial services industry, and it is essential to have a digital workplace that can integrate all of them. eXo Platform supports interoperability standards. Employees can integrate the various tools they use daily with their digital workplace.
Satisfying the growing demands of their customers and providing employees with the right tools with which to perform their jobs are top priorities for financial institutions. eXo Platform, with its holistic approach and open standards, enables these institutions to boost productivity and improve customer service.
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