Digital technology is always increasing, and the same goes for the banking industry.
Transforming the digital landscape for larger legacy banks who are stuck in their traditional ways is difficult. In a rapidly changing industry with challenger banks on the horizon, how do you keep up with the right technology?
Due to the nature of the industry, banking environments are often stuck using old monolithic intranet systems and legacy technologies. This makes it difficult to follow industry trends, promote a social way of working, and freely share and access information, all while still maintaining high levels of governance and keeping data secure.
Luckily, some modern intranet software can align their institutions on a technological scale, creating a modern and digital experience staff comes to expect, much like their customers.
Not only has there been a shift from cash to card and towards mobile banking for customers, but banking institutions are starting to feel the pain of maintaining a static and outdated intranet software for their employees.
From lack of data security to inefficient workflows, the old way just isn’t working anymore. Some have turned to modern intranet software like digital workplaces to alleviate those pain points and help increase efficiency, align teams, and keep data and information secure.
Centralized, secure data
Financial organizations like yours manage a lot of information that changes constantly. How you handle this information and your data is critical. Digital workplaces keep all of your information and data in a centralized location, allowing you to quickly and easily distribute information and keep employees up-to-date on news.
Privacy and permissions
Administrators are able to edit and control permissions so you can control who sees what information. You can also determine exactly what data gets archived, what gets deleted permanently, and when. Add members at any time, and even invite people from outside your organization. You own not only all the data and contents created in your digital workplace, but you also own the full lifecycle and retention policies of your data and content.
Documents and files are the lifeblood of the financial industry, and your bank or credit union is no exception. A digital workplace allows you to keep all of your documents and information in one, organized and centralized hub for easy real-time access to policies and quick communication.
Global hub for communications
Intranet software like digital workplaces acts as a global hub for communications so you can connect employees all over the world. This allows you to offer better customer service and quickly and easily communicate and distribute certain information to target audiences. Likewise, integrations with other financial tools and platforms ease the pains of siloed workflows and enable employees to work more efficiently.
Digital banking revolutionizes how customers manage their money and how your organization functions.
Aligning and engaging their employees in business priorities was critical for one of our clients, a leading UK asset management firm. Implementing an intranet software like the Beezy Digital Workplace was the key tool to enable this.
“Our starting point is always about enabling our business. We aim to lead by example with a relentless focus on how we can improve the employee experience, which goes hand-in-hand with the focus that we place on the client experience,” said Global Intranet Manager of a UK Asset Management firm.
When I discuss the Digital Workplace with teams across our business I ask two questions: What are you aiming to achieve? And who is the audience that you are targeting? Like most businesses, the need to increase employee productivity and make jobs more satisfying by helping people to find the information they need are key business enablers.”
The firm set out with key parameters for a new intranet solution.
They ended up choosing Beezy, our award-winning and modern digital workplace that transforms the way banks and large enterprises work and collaborate. Enabling and enhancing collaboration and communication, aligning departments, and easily controlling data permissions.
Beezy doesn’t have access to your data––everything is in your own environment. We are the only vendor that is native to SharePoint and Office 365 that doesn’t host your data on our secure platform – you own and keep it all. Beezy can scale too, no matter how many users or employees you have.
Launching or implementing any new software can be a challenge. Especially in a traditional environment such as the banking and financial industry. Most banks and financial organizations get by with outdated intranets and technology, which doesn’t allow for much growth. Before implementing a new intranet software, outlining a key approach to their digital workplace was key. It had to meet their key parameters in order to be successful.
“Our digital workplace is a shop window to the rest of the organization and it was vital for it to be launched in the best way. If people like what they see they will trust us and come back for more.”
In such a heavily regulated industry, security and efficiency are key. New digital players are free from the technical debt and legacy systems that burden incumbent banks—helping them bring new offerings to market quickly with intranet software. Allow digital workplaces like Beezy to transform your organization with digital workplace solutions that help maintain regulations, improve workflows, and protect your data.
Ditch the old, monolithic intranets and implement a new employee internet that reflects the modern consumers of the banking industry today.
Whether you are aiming for improved communication, automated administrative tasks, customizable workflows, or broader organizational transparency, Beezy’s Digital Workplace can help you deliver a digital experience that your employees use and have come to expect.