Gegham Azatyan, cofounded Dexatel in 2015, innovating in CPaaS and omnichannel solutions for secure business growth.
In banking, timing is everything. Customers expect instant updates on transactions, account activity and, most importantly, fraud alerts. A delay in notification can mean financial loss, and nothing erodes trust faster than finding out about suspicious activity too late.
As the founder of a business messaging solutions provider, I’ve seen firsthand how financial institutions can struggle with fragmented messaging systems. It’s like trying to cook a gourmet meal while running between two separate kitchens: not ideal.
This is why some banks opt for a CPaaS, or Communications Platform-as-a-Service, solution. These tools allow companies to integrate communication capabilities into their apps and workflows. A number of companies, my own included, provide CPaaS tools, and through this, I’ve been able to see what banks should keep in mind to find a solution that fits their needs.
Integration With Existing Systems
Few things frustrate banking professionals more than clunky systems that don’t talk to one another. Banks handle enormous amounts of data, and every inefficiency slows down operations. If employees have to constantly juggle platforms, mistakes can happen, response times can lag and customer satisfaction can take a hit.
This means that when evaluating potential CPaaS tools, banks need to ensure the solution will actually improve their processes. One of our banking clients, for example, was convinced they had the perfect plan for integrating messaging into their customer relationship management (CRM) system, but after rolling up our sleeves and taking a deep dive into their systems, it became clear that their proposed solution would have created more headaches than it solved.
Organizations may need to work closely with their CRM’s technical team and test different approaches to find an integration that works. When systems are fully integrated, efficiency can improve. Messages get delivered quickly, support teams respond faster and customers feel valued.
Before adopting a CPaaS solution, banks should also ask two key questions:
1. Is the platform friendly with various application programming interfaces (APIs) and compatible with our existing CRM and core banking systems?
2. Can it scale with our infrastructure and handle the volume and sensitivity of our data?
Compatibility and scalability are often overlooked until too late. A robust CPaaS solution should offer RESTful APIs, support common protocols and come with integration documentation tailored for enterprise environments.
Banks also need to prepare for internal change management. Even the best integrations can fall flat without proper staff training or stakeholder buy-in. Another challenge is data migration. Cleanly transferring communication histories and customer profiles into a new system requires planning and technical oversight. It’s not always smooth sailing at first, but when done right, it can pay dividends in speed and satisfaction.
Security: A Non-Negotiable Priority
Let’s be honest: No one wants their bank making headlines for a security breach. Financial institutions are high-value targets for cybercriminals, and even a minor vulnerability can have massive consequences. Customers trust banks with their most sensitive data, and that trust is fragile. One misstep and they’re gone. In fact, 78% of customers said they “would switch financial service providers if they felt their data was mishandled,” according to “The Connected Financial Services Report” by Salesforce, which surveyed 6,058 financial service institution customers worldwide in March and April 2023.
When integrating messaging into banking systems, security must be airtight. Encryption, authentication protocols and compliance with strict regulations aren’t optional—they’re the foundation. Banks should ensure a potential CPaaS provider can operate within strict security guidelines while ensuring seamless communication among their platforms. Banks can’t afford shortcuts in security. Customers expect their data to be protected, and failing to meet that expectation isn’t an option.
Remote Access And Supporting Digital-Only Banking
The rise of digital banking isn’t a trend; it’s the new normal. Many customers want full access to their accounts from anywhere, anytime. They expect a seamless digital experience, whether they’re checking balances on their phone, transferring funds at midnight or receiving real-time fraud alerts. If a bank can’t deliver that, customers will find one that can. The aforementioned Salesforce report supports this: Researchers found the digital experience was the top reason customers switched banks.
One of our clients recognized that their digital banking services needed an upgrade. Their messaging system forced employees to manually retrieve messages from an external dashboard, which was creating unnecessary delays. Customers were left waiting, and frustration grew. But after integrating messaging into their CRM, response times improved because customers could communicate directly with bank representatives within the app.
This type of integration isn’t just about convenience; it’s about meeting modern expectations. Banks that embrace digital transformation can keep their customers engaged. To support digital-first banking, banks should ask CPaaS providers:
• Does your platform offer omnichannel messaging, including SMS, in-app chat, email and push notifications?
• Can customers receive and respond to messages in real time across devices?
• Is there support for automation, such as AI-powered chatbots or rule-based workflows for fraud alerts and transactional updates?
Another consideration is message delivery insights and analytics. These can help banks confirm a customer received an update. Features like failover messaging, where alerts can switch from one channel to another if undelivered, can also make a difference. Ultimately, the CPaaS provider should help the bank deliver the same level of service whether the customer is in a branch location or halfway across the world.
The Future Of CPaaS In Financial Services
The financial industry is evolving rapidly, and customer expectations are growing just as fast. Security concerns are intensifying. Digital banking is expanding. The demand for real-time, secure communication is higher than ever.
The takeaway is simple: In an industry where trust is everything, communication matters. Banks that integrate messaging thoughtfully and securely can position themselves for success. Those that don’t? Well, let’s just say the competition is only a click away.
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