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Monday, December 03, 2007

Cisco, IBM join forces to deliver solutions for retail banking

Two Information Technology (IT) giants, Cisco Systems and International Business Machines (IBM) are joining forces to deliver new retail banks solutions for the front office.

Announcing this development, the duo of IT firms informed that the collaboration is to rejuvenate a new phase of front office solutions for corporation organisations, thus they are poised to transform the retail banking experience by enhancing customer interaction.

Revealing this, the global solutions executive, IBM Banking Industry, Mr. Sunny Banerjea, said that the collaboration, would cut across all types of delivery channels, such as branches, contact centres and self-service kiosks.

The new modular solutions, he said, integrate front and back office systems with technologies such as Voice over IP (VoIP), streaming video, web conferencing, and instant messaging to help branch office employees deliver more personalized products and services for customers and drive organic revenue growth.

He noted that financial institutions value the relationship with their customers and are known to personalize products and services that better meet their financial needs, independent of the time of the day or the delivery channel. Customers are now demanding an experience from their banks similar to the customer-centric services they get from other industries, such as retail, travel and entertainment.

He emphasised that as a result, banks are striving to deploy technologies and IT architectures that help enable new marketing and sales programmes, more dynamic and timely employee training, and improve business process improvements to optimize a collaborative customer experience.

The IBM and Cisco front office solutions for retail banks, he said, addresses these issues through the transformation of front office banking by enabling a new, flexible multi-channel environment that delivers a more tailored and timely customer experience, streamlines processes and lowers operational risk and cost.

He added that the series of modular front office solutions feature IBM hardware, software, and services, as well as Cisco core and advanced networking technologies.

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